Buying
a Home with the Future in Mind
There’s rarely an exception to the rule that real estate appreciates
over time and this certainly isn’t any different in the South Bay
area. The South Bay real estate market is as hot as it is competitive
these days, and this goes for buyers and sellers alike. Many of the homes
we sell or find for prospective buyers never even make it to the newspapers.
Even in this whirlwind arena you certainly don’t want to rush into
a purchase without considering the home’s potential for added future
value.
Follow these simply buying tips to not only find your dream home, but a home that will build big equity in the event you decide to sell somewhere down the road.
Location!
Location! Location!
You’ve heard this before and it still rings true! Houses that benefit
from a pleasant view of the horizon and especially the ocean often sell
at a premium price above similar homes without such a view. In many cases,
a home perched atop a hill or nestled in a beachside community will fare
better than a home tucked away in a crowded neighborhood. This isn’t
to say that living in a small neighborhood isn’t a valuable commodity,
after all, you want to purchase a home for pleasure and living, not just
an investment!
So what other things should be considered when buying a home? How do you narrow in on the perfect home for you and your family while still protecting your most precious investment? While no one can guarantee that your home will grow in value, there are a few steps you can take to maximize your potential home value.
Find
the right community
The first choice you have to make is "which community?" At the
very least, you should narrow your choice down to just a few local communities.
Before you can actually pick out a house, you need to choose what cities or communities you would like to live in. There are many factors you should pay attention to, not only for yourself, but because you intend to eventually sell the home to someone else. Carefully choosing your community is the first step in "location, location, location" and can help maximize your future potential resale value.
Economic
Stability
It makes the best financial sense to purchase a home that is located in
a city with a viable and stable economy. Think ahead five, ten or fifteen
years from now and do your best to determine if the community in which
you are buying will still be a desirable place to live.
Local
Government
Depending on your needs and the needs of your family, check out available
services and programs. A few examples might include a transit system,
local libraries, activity centers, and parks or playgrounds.
Safety
and Security
You should also look into local crime statistics and see how the area
you are considering compares surrounding local communities. Also consider
how close the local fire stations are to your prospective home just ot
make sure they can respond to an emergency quickly.
Schools
Even if you do not have children or you do not intend to have children,
you will still want to pay attention to the local school system. After
all, when you go to sell the property in the future, many of your qualified
buyers will be adamantly focused on the local schools.
Surrounding
Area
Take a little drive around the area making special note of the location
of essential shops and services. This might include grocery stores, restaurants,
gas stations, dry cleaners, and convenience stores. You should also have
convenient access to local highways, major traffic routes, and more. Also
pay close attention to the area’s décor and condition. If
your area looks to be on the decline then it could be an indicator that
the local neighborhood is in decline as well.
As your local
agent I have a wealth of information on all of these subjects so you can
be confident that my knowledge and experience in the South Bay area can
absolutely help you find the perfect home in the perfect location.
Other Real Estate Articles
Buying a Home with the Future in Mind
Considerations That Make a Difference
The Right Impression, Every Time
Market Value vs. Appraised Value…what’s the difference?
Jim Finseth,
MBA
950 Artesia Blvd.
Hermosa Beach, CA 90254
Phone: (310) 994-1800
Email: info@LAdreamhome.com
Always use
a REALTOR®
CA Real Estate Number: #01318643