The real estate market is healing in some markets(like Augusta, Ga) which means the home hunt will be beginning soon, if not already started, for many first time home-buyers. Before you all go out searching for your new home, make sure you keep a few things in mind.
Don’t Even Think About It
Having the largest house in the neighborhood will hurt you in the long run when preparing to sell your home. If anything, buy the worst home on the best block and renovate it. This will give you much more bang for your buck, just don’t over do it.
Comps play a big role when it comes to selling your home. If the homes around you are half the size of your home, don’t expect to much more than what their homes sell for. If you buy a house for $400,000 in a neighborhood where your neighbors are paying on average $200,000-$300,000, the value of your home will only appreciate so much. Don’t limit your home appreciation value.
Think of your home as an investment–imagine yourself having to sell your home years down the line. Would it be a tough sale? Would you have to price your home lower than what you paid because of the comps in your area/neighborhood? Before buying your first or next home, research! research! research!
The information above shows how vital it is to have a real estate professional working for you. Let them do all the hard work! For more information on this topic, comment below.