My Blog

Location!?!

1/18/2019
One of the first things a new home buyer decides on is the location of their new home. 

What do you mean there is nothing in my price range?
 
Could it be that you have to look at neighborhoods bordering the one you are interested in?  If it has all the amenities and school district you seek out it might be a good alternative.

Are you skilled enough to do some DIY work?  A distressed home might be an option.  A distressed home could be a foreclosure, short sale or estate.  The range of updating and repairs needed vary so looking for a home that will not be a money pit especially if you do not have the resources is key. If you need to move soon then an option may be to purchase a home that is part of an estate. Many of these homes are in need of cosmetic updating so if you can put up with gold shag carpeting for a while this may be the option for you.

Taking on a home that is distressed does take a little analysis though.  Your real estate professional should be able to assist. It is important to look at what a home that is fully updated in the neighborhood is selling for.  Calculate the amount that it is going to cost to update your potential new home.  if the cost of the home plus the cost to remodel are at or under the sales prices of fully updated homes then it could be the opportunity for you to move into the neighborhood you are dreaming about!

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