Although we are currently experiencing a Seller’s Market, in housing, that we have never seen in recent memory to this extent, and as a result, escalating home prices and, much more, qualified potential buyers, which houses, for sale, instead of overreacting, etc., a smart buyer will take the time and make a concerted effort to better understand and truly appreciate those significant factors that every buyer should! These factors are of course in addition to taking a close look at the specific features and quality of the home! With that in mind, this article will attempt to briefly consider, examine, review, and discuss 7 keys and why they are important.
one. Area/region/neighborhood: Consider what you like and don’t like about a specific area, region, and/or neighborhood. What are the strengths, weaknesses and neutral considerations? If you are familiar with the area, why are you drawn to it and what does it offer? If not, do some research, talk to the neighbors and drive, and watch!
2. Your personal considerations, present / foreseeable – future: Each of us is unique, in a certain way! Since, for most, the value of your home represents your main financial asset, it’s wise to pay close attention to what you’re looking for and differentiate between your present and foreseeable future needs, priorities and goals, and how a specific home might serve you! to your purpose! What attracts you, and what doesn’t, and why?
3. Real estate taxes: Remember, real estate taxes are often a major component/part of your monthly home ownership costs! When doing your calculations, don’t forget to seriously consider the impacts of these!
Four. Security/Crime: Check out the figures regarding area safety and crime! For most, living in a safe neighborhood is a very important factor. Look at the data, instead of just asking someone!
5. Mod cons: How convenient is the location, especially as it relates to your needs and priorities? Is it close to shops, markets, pharmacies, etc.? How about access to public transportation? Is it easy and convenient to use a car, etc.?
6. School quality: If you currently have or plan to have a family/children, or even if you don’t (because it affects future resale values), look at reliable data on the quality of the local school system. Many states publish official data etc!
7. Your personal comfort zone: What makes you feel comfortable and how would a particular property enhance your enjoyment, etc.? Does all the data fit your personal comfort zone, especially in terms of cost, monthly expenses, area, location, and all other relevant factors? Remember, if you don’t feel comfortable, you probably shouldn’t buy that specific house!
Be a smarter homebuyer! Consider these and any other personally significant factors before making your final decision!
