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How To Choose The Best Home Location
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How To Choose The Best Home Location

Now it's time to decide where your want to live. It's so pleasant to go to your own little castle after a hard days work and sit back relax and enjoy "home sweet home." At least that's how it's supposed to be. But that's not the case for every homeowner.

It's said that the three most important elements in any real estate decision are: location. location, and location. This adage is certainly true for homebuyers, and especially true for the first time homebuyer. Nothing will affect the value of your home an its ability to appreciate like location. If youhave to choose between price and location, choose location. You can always update your house and make it look better, but you can't change the neighborhood you're living in.

Here are a few tips to assist you in finding that great property in a good area:

Buy the worst property in the best neighborhood: The most successful home will never buy an expensive property in a marginal area. You want to buy your home in a reputable and economically stable area. Buy your home in communites that are in demand and popular among other homebuyers.

Never buy your home in rental areas: Buy your property in an area where it is predominately owner-occupied. There will be less tenant turnover and homeowners tend take pride in ownership. They normally maintain their properties and the community better. Buy neighborhoods, not properties. Smart investors buy schools, transportation, shopping, libraries, parks, and churches. They buy where the jobs are or where they are going to be. To determine if the home is going to be a dream home or not check out what's happening around it. Is the neighborhood improving or declining? Are there vacant properties and vacant lots in the neighborhood? Are businesses moving in or out? Are jobs being created or lost? What is the neighborhood's forecast for the future?

If you buy your property in neighborhoods that are increasing in value each year the market value of your house goes up, raising the equity in your home. Normally that's the way it's supposed to work, but only if you buy in the right areas.

Buy only in good school districts: A successful, but little known way to choose the best neighborhood for you is to buy in communites with good school districts. Usually the better neighborhoods have the best schools.

Buy your home with selling it in mind: Your home must appeal to future homebuyers or they wont buy it. If you think that they wont buy it you wouldn't either.

A good resource with lots of knowledge about any neighborhood is the local postal worker. They walk the neighborhood for 8 hours a day. They can provide you with much needed information about the neighborhood your interested in. Armed with better information you can make a better decision.


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