#1 Bigger isn’t always better.
Whether you’re a first time homebuyer or a seasoned real estate veteran, sometimes it is easy to get caught up on what we are able to get the most for our money. Let’s face it, we all love the largest and prettiest house on the block. With the huge yard, overflowing landscape and pillared rooftops. They are simply beautiful and if you can afford it? WHY NOT!?
Here’s why this isn’t always the best house to buy.
If you end up paying a pretty penny for the biggest and most extravagant house, while your neighbors are paying $100,000 to $200,000 less, your appreciation is limited. You have also just bought a house with only a few select buyers in your range. When looking for a house, it is always important to purchase a home that has a surplus of buyers. It would also be in your favor to look for a house in the median price range so over the years you can add small updates to increase your value!
Another rule to follow in this category is to never trust your emotions 100%. For example, say you buy the biggest home on the block, only to completely max out your budget and now you have found issues with the home. Maybe it was a little older, needs regular and costly maintenance, which could have been avoided if you followed your head and not just your heart. Remember, any house you buy, you can slowly turn into your home. Never fall for the biggest because in the real estate world, that isn’t always the best.