Are you searching for the perfect house to call home but got stuck between two beauties?
Both tick all your boxes. So how do you know which one is best for you?
Buying a house is probably the greatest investment you will ever make. When you say “Yes!” to your home, there should be no room for doubt.
There are two things to take into account when choosing between two properties. Once you set your priorities straight, you should be able to make a sound decision:
1. Location is everything
You will move in a new home, but also in a new neighborhood. You will be a part of a new community, have access to new (or different) public transport systems.
Compare the two locations and see which one is a better fit for your needs:
- Take into consideration the proximity to your workplace – the house may look nice, but if it is located two hours away from your office, you may want to think again.
- See how the school system is rated compared to the other location.
- If you can walk to stores and restaurants, even better.
- What other location-related priorities do you have? It could be a barber’s shop, a supermarket, the area’s noise level etc.
Tip: ask the neighbors’ opinion. This will help you learn more about the community and introduce yourselves to your potential future neighbors.
Are both homes located in similar areas?
In this case, an extra opinion can help you see things differently. See if your family members agree with your criteria for picking one house over the other, as they might have different priorities. Ask your children’s opinion as well, since they too will live in the new home.
Another differentiator you might want to consider is the home’s orientation:
- Do you want your backyard to be in the sun or would you like it to be shadowy in the afternoon?
- Are you going to have a nice view? And how important is this to you?
The price is a big differentiator and, if you can get the same features for a lower price, it is worth going with the cheaper house. However, do make sure that the builder used top quality building materials and products. Same features for a lower price – that usually suggests someone may have cut corners. It’s not always the case, but make sure you do some research before making a decision.
2. Think in terms of future value
There are two categories of homebuyers:
- Short term buyers (stay in a new house for a few years and then resell it) – In this case, you want to make sure the houses in the neighborhood will not decrease their real estate value in the foreseeable future.
- Long-term buyers (you don’t plan to move anytime soon) – In this case, make sure you examine all the details: from features and amenities, to what the neighborhood offers.
In an interview with Business Insider, economists Stu Hoffman and Gus Faucher explain that “Housing ‘caught fire’ in a positive sense this spring helping to heat up an economy that was frozen stiff in the cold winter months.” With a nearly 30% increase in housing – compared to last year – the housing market is recovering, so prices are going to go up and high from now on.
Therefore, now is a good moment to invest in a house if you plan to resell it in a few years’ time. And even if you don’t want to resell, now is the moment to purchase the home of a lifetime – because one or two years from now, you will probably have to pay a lot more for it.
Tip: Talk about your needs to your real estate agent. If there is any room for negotiations on the two properties you consider to buy, an experimented real estate agent will help you get the best deal.
When choosing between two properties, make sure you take as long time as you need to think the situation through. Make a list with all the pros and cons of both homes. See what works for you and what doesn’t.
If you are looking to purchase a home in Westfield or the surrounding areas, take a look at the homes for sale listed on our website.
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Enjoy the benefits of our Built To Suit program:
- Build your home on a lot you already have (or we can help you find the perfect one)
- Customize everything about your home
- Enjoy reduced downpayment (only 10% upfront)
- Get assistance in finding the best financing solution for your needs
All initial consultations are free at Gialluisi Custom Homes. Schedule yours and get in touch with one of our dedicated team members today.