What to Look For In a Home
The real estate market today is definitely a buyer’s market. If you are a buyer, that means huge advantages for you and your family. In a nutshell, it means you can get more home for your money. It also means that many who were never in a position to fulfil the American Dream of owning a home are now fully able to do just that! That’s exciting, isn’t it? Well, don’t let it get you so excited that you make zealous, unplanned decisions. Don’t just make a bid on the first nice home you see.
Shop around, and compare. You are in every position to do that. You also have every right, right now, to expect low and reasonable prices. Value is also of prime importance today. You don’t want to spend the same money today that you would have when the market was up. Why would you, when you can get a great deal now? With that in mind, it’s important to stay strong when you are trying to talk a buyer down (or, more likely, when your agent is trying to talk their agent down). You are the buyer in a buyer’s market, so you have the right to stay strong. If a price seems too high, it probably is. The seller is probably trying to take advantage of their potential buyers.
Who can blame them? But that doesn’t mean you have to fall for it. So besides general value and an excellent price, there are a few other things you should look for. Expect the kitchen and bath to be in excellent repair and modern. If it looks like the 70’s and the house isn’t at rock bottom pricing, forget about it! Another important element is location. If the house is conveniently located by schools, expressways, stores, bodies of water or other amenities then that factor implies added value. If it is not well located, on the other hand, don’t be willing to pay as much compared to homes that are in a great location. You can make sacrifices and choose to do the upgrades yourself. That is fine. But, in such a case, expect the pricing to reflect this.