The Real Estate Agentâ€™s Guide To Purchasing a HomeAug 6 2012
When preparing to purchase a home, whether you’re a first time home buyer or looking for an investment home, it pays to do your homework before house hunting. But where do you start? Do as the experts do! Here are some insider tips Real Estate Agents follow to know where to find great homes for their clients.
Study The Local Pricing
Every agent knows to study current house price trends in their areas, and you should too. See what the average home price is in the town you’re looking at, then compare them to the average price in neighboring towns. This will reveal what town is more in demand as well as which properties are priced “fairly”. You can find home prices online or in your local newspapers.
Check School Rankings
Check your state’s board of education website or PSK12.com to see what schools near you are at the top or moving up in the ranks. This is obviously beneficial if you have children, but can also be a good investment if you don’t as homes in a good school district will be more desirable if you decide to sell.
Look Out for Development
When driving around possible neighborhoods, keep an eye out for any new roads, schools, etc. This is a sign that the community is set for a growth spurt and home prices could end up increasing in future years.
Watch the Outskirts
If you’re looking to live in a major city, but are finding that the home prices are overpriced, check out the outer fringes of the city. These areas will soon be in demand and are still a short commute to the center of the city!
Explore Low-Tax Alternatives
This information can be received from a local tax assessor or your real estate agent once you get one. Check to see how much the town charges in taxes per $100 of house and compare it to the neighboring towns.