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Something I hear 3 times a week this time of year as I drive my buyers around! In my area, I am seeing property values raise based on proximity to the ocean. You can see the progression in renovations, knockdowns and new construction. I don’t want anyone to miss out on a good opportunity or be squeezed out of an area they have been dreaming of.
Take a peek at some of my tips for getting the best home for your budget!
Location
If you desire to have a home that actually appreciates in value, think long and hard about what you want in a neighborhood. You can always alter the interior and exterior of your home, but you can never change the surroundings of the home. Some of the common changes that can occur are the schools that a certain neighborhood are zoned for and alterations that neighbors make on their own homes.
Size
Many current buyers are stuck in the mindset of, “The bigger, the better.” This thought truly is the driving force behind many decisions that those in the real estate market make. Taking a quick peek at the numbers proves that homes are no different. The average new family home has expanded from less than 1,000 square feet in 1950 to over 2,700 square feet today. Even though this is what most are looking for, do not be afraid to go against the grain. It is always much better to reside in the smallest home on the block in a neighborhood with large homes than to live in a large home in a neighborhood with less to offer. When you live in a small home you have more room to build equity. This will leave a margin for growth by buying at the bottom of the price range in a great neighborhood that you can easily afford.
Exterior
Everyone knows that curb appeal is so very important when it comes to selling a home, but what about if you are purchasing a home? If a seller didn’t understand how important a first impression is, then don’t judge a book by its cover. Curb appeal is one of the only features of a home where 90-95% of the time can be easily adjusted. If you are willing to put in the effort to enhance the beauty of your home it will elevate the value.
Price
Nothing will ruin the whole appeal of purchasing your dream home faster than being house poor. Because of this, I recommend keeping your mortgage to no more than a quarter of your monthly take-home pay and putting just 10% to 20% down on your brand new home.
When it comes to your dream home, I will ensure that you do not pay too much. I believe that mastering negotiation is very important so that your best interests are brought to the table. Not only will I take the time to explain to buyers the factors that go into purchasing a home intelligently, but I will be by your side throughout the entire process. You can feel confident that the home you buy with me will be something that you and your family will treasure for years to come.