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The Art of Choosing a Property

November 15, 2016

If you have been thinking about buying a home or making a move, in order to protect what is likely your biggest asset, ask yourself some key questions before making an offer:

1.  “Does this house and area have good resale value?”

 

Consider what you will or will not have control over when it is time to sell. You do have control over the home, making improvements, addressing deferred maintenance, and curb appeal. However, you don’t have control over the area. You will have control over the price you ask. You do not have control over the supply and demand in the market. Therefore, planning for your eventual sale when you buy the property makes good sense.

 

2.  “Is the location up and coming, stable, or are there potential issues?”

 

What changes may be coming in five, ten or more years. You may need to do a little reconnaissance to learn about your area’s plans for development if you are in an area that isn’t developed yet or is in an area of rebirth.  

 

3.  “What is the condition of the property and what will be my costs to fix?”

 

I always recommend having an inspection on the property. Remember, costs to repair will eat into your initial cost outlay, affecting your return on investment.

 

When you ask yourself these questions, you will be better prepared to find the best property—and make a sound investment for your future. Reach out to me at: (206) 730-0962 or send an email to nina.bjornstal@sothebysrealty.com .  

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