11 Jun When You Buy a House, Look for These Signs of Value
Whenever you spend some of your hard-earned money, you want to get good value. That is true when you go out for dinner, and it is certainly true when you purchase a home. Buying a house is one of the biggest financial decisions you will make in your life, so you want to get it right. If you are looking to buy a home in Maryland anytime soon, keep the following tips in mind!
You may have heard the expression that a particular house has ‘good bones’. What does that mean? Simply put, it means that the house is structurally sound. There may be cosmetic issues with the home – it may need new paint, for example, or maybe updated cabinets – but the actual structure of the home is solid. This is an important point, and something that you should be looking for in any home that you consider buying. Cosmetic fixes tend to be relatively cheap, while structural issues can be incredibly expensive. If the home has foundation problems, for instance, you could quickly find yourself sinking huge amounts of money into the house shortly after moving in. Needless to say, you want to avoid that outcome if at all possible.
As you shop, try not to be too swayed by the cosmetics of any given home. For example, if one home looks beautiful inside and out – but it has some structural concerns – and another home looks a little rough but is solid from top to bottom, the choice should be easy. You can plan out cosmetic upgrades, and include the cost of those in your budget, but you probably don’t want to go near the house with a potentially long list of repairs needed.
A Great Neighborhood
You aren’t going to be able to move the location of your home, so it is essential that you pick a property located in a good neighborhood. The location of your new house is going to be one of the main determining factors in terms of how much value it retains – and accumulates – moving forward. Some of the key aspects to watch for in a neighborhood include the quality of the schools, the availabilities of parks, the crime rate, and more.
Keeping with the Trends
If you are planning to remain in your new home for many years to come, you may not be particularly worried about its short-term resale value. Still, knowing that your home has many of the features desired by buyers is reassuring in case you do need to put the house back up on the market. Some of the elements that many present-day buyers like to see include open floor plans, wood or tile flooring, and plenty of natural lighting. A home with these kinds of features might not appeal to every single buyer on the market, but it is likely to draw plenty of attention when it hits the market.
It isn’t always easy to find value on the housing market, but the persistent shopper should be able to find something that checks all of the right boxes. Of course, it is important to remember that while you want to find value, you also want to find a home that you can love. With any luck, you’ll find that perfect home where the value is right and all of your family’s needs are met. Good luck and have fun shopping!