Real Estate Rules for a Smart Buy

Do you trust yourself when it comes to choosing the right home? I am usually working to decode a clients comfort levels when it comes to how much they want my opinion. I never want to come off pushy in any environment, yet some need a bit of a heave hoe per say, when it comes to making a decision.

Todays market has challenged every single personality style and those who

are extremely decisive or thrive in the rush are winning this game. And I am fully

convinced that “game” is an appropriate description of what you will experience if

you are buying a home today.

Regardless of how quickly you make the choice to move on a home, here

are some tried and true rules of real estate that will not steer you wrong. If you

can weigh your decision against these 5 concepts, I feel confident you will secure

a favorable outcome in the long run.

1. If you can not keep this home for a minimum of five years, then you should

rent. You do not have to stay in the home for 5 years, but you need to be fully

prepared to rent the home if you get relocated or can no longer live there.

Traditionally, you can expect to be able to sell a home and not have to bring money

to closing if you have owned it for at least 5 years. I am not saying you will

100% make a penny, but you are very likely to have paid the mortgage down

enough to offset your selling expenses and walk away.

2. Location is ALWAYS king in real estate. You should always choose a location

over the home amenities. Often people want bigger, newer, nicer homes with in

their price range. I assure you, you will get way less that you really want for your

budget IF you are buying in the most sought after and desirable area.

Do not be swayed by the “house” if it is located in an area that is less desirable. This is 100% the situation where less now will equal more later. Good areas rarely depreciate. Buy a small home that needs a little lipstick in the best area of town!

3. Never, and I mean NEVER buy a home zoned for a poorly rated public school district. Kids or no kids, now or ever, this is a big no-no. Even if you have kids and they are going to private schools. Schools are all publicly rated so it is easy to do the research in a new place. See number 2, for help with this one. I’m willing to bet that those expensive, tiny, old homes are zoned for a top rated school district.

4. Buy something conforming to your area. This means go with the main style of

your community. If 95% percent of the homes in your area are a two story brick,

do not buy the only log cabin in the area. This is a great time to be boring and get

what all the rest of the residents are getting! Conforming is good in this situation.

5. Look for properties in a walkable area. These would be communities with sidewalks or walking paths, parks and schools, shopping and restaurants, trails and lakes, and community amenities. Rural seems like a great idea, but it is

sometimes isolating and the majority of the population genuinely does want to be

near these things.

We all find ourselves in times where we are unsure of the future and real

estate today seems to be one of those that can cause high anxiety on what you

should do. You will always need a place to call home, hopefully these suggestions

will help you fell like you can safely navigate a smart investment no matter what

the market is doing.