Everyone wants to live in their dream home at some stage in their life. However, not everyone gets the chance because they cannot buy their dream home. The price is partly to blame because a property is incredibly expensive in the modern day. But, more often than not, they don’t know what to look for in their perfect home. They don’t know what constitutes a great house because they are not real estate agents. Realtors have an expertise and experience that allows them to spot a good property a mile away because they are professionals. Here’s what they would look for in a home before they decided to make a purchase.
The best home is always the most affordable. No matter what people think, they cannot live in a home they cannot afford. Rather, they can, but it will cost them a lot in the long run, and that means more than money. Obviously, the prices are quite extravagant, and there are not too many people who have hundreds of thousands in the bank. In that case, a buyer has to find the best loan option. The interest rates and the monthly repayments are always an issue and are something that needs a lot of consideration beforehand.
Prime real estate is in a great location. Buyers want to be in the mix of the action, but not too far in that they cannot get away when necessary. For example, plenty of people love big city life – going for drinks, eating out, catching a show, etc. Yet, when it comes to the end of the night, they want to go home to a nice, quiet house. The buyer has to decide what they want from the location. Do they want a relaxed atmosphere or something busier? What the commute into work? Everything needs thorough analysis when investors are looking for a near perfect property.
It is not just about the buyer, not if children are involved. The odds are that most buyers have more people to think about other than number one. When kids come into the equation, so do schools. A parent will always want the best for their children, and their education is a big part of their well being. Being closer to a good school is something that will go in the child’s favor because they are a part of the local community. Also, kids and parents don’t want to commute for half an hour on a school run every morning.
Being outside of the city means that a buyer needs a quick route back to town. The availability of the buses, the trains, the trams, etc. turns a good house into a great one. The homeowner doesn’t have to worry about living on the outside because it is so easy to get anywhere within a short space of time. That way, they get the best of both worlds.
A property investor should never forget the impact of the resale value. Sometimes, a buyer won’t want to stay in one place, or they might want to flip it for a profit. In that case, how much can the property go for when it goes back on the market?