Tip #1: Pick the Neighborhood First
There's an old joke about real estate. One person asks - "What are the three most important things to consider when you buy real estate?" Another person is quick to answer "Location, Location, Location!" While that may not be a very funny joke, it is true, location is the number one most important factor in determining the value of a home. This means that you need to seek out the right neighborhood first. To make a smart purchase you may have to sacrifice square footage, appliance upgrades and home features, but in the long run buying into the best neighborhood that you can afford will pay off.
Tip #2: Look for Signs of Pride of Ownership
You're not just buying a house, you're buying into a neighborhood and how well your neighbors do or don’t take care of their home and yards will effect your home’s value over time. When you're out looking at houses make sure you look around the neighborhoods you drive through carefully. Are the neighbors taking care of their front yards? Do they trim the bushes? Do they sweep the gravel off their sidewalks and driveways? Are there old vehicles and oil stained driveways everywhere? Then you may want to try another neighborhood.
Tip #3: Check out the Schools
This is important even if you don't plan to have children because in many neighborhoods schools drive and support housing values. You should research school boundaries before you go out looking at homes. If you have children one block can make a big difference whether or not your child attends that desirable school or not. Search Albuquerque homes for sale by school district.
Tip #4: Investigate the Crime Rate
There are many different sites you can use to check everything from crime stats to sex offender information.
Tip #5: Remember that Square Footage Can Be Misleading
How a house is laid out and how the floor plan flows has a big effect on how large or small the home feels. Does the house have long narrow hallways? Does the house have a two story entryway that's open to the top? Features like these can have a big impact. In some extreme cases, the square footage may not even be accurate.
Tip #6: The Price Per Square Foot Can be Misleading
Don't pay too much attention to the price per square foot. Accurate pricing of a house is much more complicated than simply taking the square footage of a house and multiplying it by the average price per square foot in a neighborhood to determine value. Factors like updates, appliances, lot size, lot location and condition have a major impact on value.
Tip #7: Keep Current Housing Trends in Mind
Tastes in Housing Change over Time. In 2006 everyone wanted extremely large homes with tons of space including giant loft areas. Formal dining rooms and two living rooms. In my opinion things got a little out of whack and home builders were going crazy building 3,500 square foot homes, but some of them only had 3 bedrooms! In today’s market, trying to sell a 3,500 square foot three bedroom home is very difficult. In general, home buyers are spending less and are looking for more sensible and more affordable floor plans. These are just a few factors that go into making a smart home purchase. For you and your family there may be even more, so make sure you Call or Text Rich Cederberg at (505) 803-5012 and hire an Albuquerque Real Estate Agent who will help you weigh all the factors that go into making a smart purchase. Start your search for Real Estate in Albuquerque.