Before buying a house, it’s good to think about making a good investment as a home is one of the most expensive purchases most people make. When you’re looking for your dream house, you don’t usually think about the day coming when you will sell it but it’s always good to shop with resale value in mind.
Here are five home-buying tips to help you make a smart investment:
Have you watched Fixer Upper on HGTV? Typically, Chip and Jo are helping people to find the least expensive house in a great neighborhood to fix up. This is a great idea because it gives your home’s value room to grow and gives you room to make changes and upgrades without pricing yourself out of the market.
Be sure to look at home values in the neighborhood you’re considering. Are they going up or down? Are businesses booming or shutting down? Home values often reflect the prosperity of the communities they are in.
Be sure you buy in the location where you want to live even if you can get a similar house in an area you don’t like as well. Location is something you can’t change. If you don’t love the neighborhood, hold on, there will be another “perfect” house for you to find in your desired area.
Be cautious, also, of a layout that doesn’t work. A bad floor plan is difficult to change without a large investment and if you find it difficult to work with, chances are potential future buyers will also find it unworkable.
Cosmetic items – such as a horrible paint color, or green shag carpeting – CAN be changed and you should be able to look past easy to change details if it’s going to bring you more important things on your list like location and price.
School districts are important even if you don’t have kids. Should you decide to sell in the future, being in a good school district will be important to families with kids and can broaden your pool of potential buyers.
According to the National Association of Realtors, it takes the average home buyer around 10 weeks before finding the right house. Don’t be in a hurry and take your time to find your perfect home!
Photo credits: Tiago Rodrigues on Unsplash and Please Hate All These Things