Whether looking for an investment property or just a place to call home, you definitely don’t want to end up with a money pit. So how can you be sure you are making money on your home purchase? Larry Aridas, a realtor in Orlando, Florida, has these tips for anyone planning on buying a home.
- Location, Location, Location – Everyone has heard the most important factor in a real estate deal is location! Once you buy a home, you can make all the upgrades to the actual home that you want. However, you cannot change it’s location. Before you sign any papers, check out the neighborhood, schools, and even talk to the neighbors. If you see a lot of for sale signs in the yards around the home, that should throw up a red flag. Click here for neighborhood information on the house you are planning to buy.
- Bigger is Better…Maybe Not – “It’s always better to be the smallest home on the biggest block,” Larry says. Why? Because you have more room to build equity. Leaving room for growth and upgrades allows you to add value to your home.
- Curb Appeal – While curb appeal is usually a phrase for sellers, as a buyer you want to check the exterior of the home as well. Usually landscaping and other exterior features are able to be changed. Behind the mess outside, you could be in for a steal of a deal. Just be sure the inside isn’t neglected as much as the outside.
- What’s Inside – Decorations are changeable. Layout is not. Be sure the home functions in a way that will work for you.
- Get a Home Inspection – The most important thing you can do to ensure you are getting a good home is to have a professional check it out. Larry says to get out of the deal if the inspector finds any of the following:
- Foundation failures or noticeable structural problems
- Prior sinkholes
- Water damage
- Termite or pest damage
- Polybutylene piping
- Keep it in Your Budget – Don’t regret your home purchase because you struggle to make ends meet. Be smart and buy a house within your budget.
The most important help in finding a good deal on a great home will come from your real estate agent. Working with a trained professional that is up-to-date on the current market will ensure you don’t pay too much for your dream home! We are here to work with you and assist you with the buying process. Call us today to start your home search @ 720-593-2014!