- Look for a home that it is near all of the amenities that you might need (pharmacy, grocery store, or any other convenience place).
- You should factor in living costs before you make the decision to purchase a home. For example, a home in Brookville will require more in heating costs than a home in other states. Decide what's most important to you, and factor it in.
- If you are planning to sell your home in the market, consider that curb appeal is more important than ever. Be sure to spruce up the exterior of your house. If the outside of a house doesn't immediately attract attention, buyers will just click ahead to the next property.
- Spend some time researching neighborhoods before you search for homes. In particular, look up the crime rates in each neighborhood that you are considering. You may find out some statistics that you were unaware of, causing you to either eliminate some homes or place a priority on others.
- Don't sell too soon. One of the most common mistakes made by real estate investors is that they turn over properties too soon. It is completely natural to want to take advantage of a hot market. However, in an area where the market goes through fairly regular cycles, investors often generate more cash at the time of sale when they hold onto the property for a year or two in order to take advantage of tax benefits while waiting for the market to hit its true high point. This is particularly advantageous when the property was purchased with nontraditional financing that requires minimal payments for the first several years of the loans.
It is always worthwhile seeking advice on the marketability of your current home and the best mortgage deals before beginning the search. Minimize the hardship of home buying. Your needs and interests are always my first concerns. Contact me today!
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