Nobody wants to have remorse or regret after purchasing a condo or a house and while we might know the red flags to look for, there may not be as obvious the signals that tell us it’s a good buy. When looking for a condo or a house, here are five little details that let us know the home is a good deal.
#1. It’s in your price range.
I’m not saying your price range as in $10,000 over or 15% higher than you can really afford. This means that if you are approved up to $400,000 and the home is $375,000, it’s in a great price range where it’ll give you a little bit more wiggle room with your monthly housing costs.
#2. It’s the right size.
If you find yourself settling for a two-bedroom home when a three-bedroom home is really what you wanted, you may not have found the perfect house for you. Granted, most first-time home purchases are not the homeowner’s dream home, but they can be a good place to start, however, if you’re sacrificing space and the rooms you really need, it may behoove you to hold out for a better property.
#3. It’s move-in ready.
Just about everybody wants a move-in ready home but if you’re finding yourself compromising on, “well, will fix that when we move in, it’s okay, we can upgrade later” then you might not have found the home for you. Hold out a little longer for the right property.
#4. A home warranty is offered.
Home warranties are an extremely vital part of the home buying and selling process these days. For a mere $500-$600 you can get a home warranty that will cover just about everything in the home for the next 12 months. This comes in truly handy when a $2000 water heater breaks and you only have to pay a $65 deductible to have a completely replaced and installed.
#5. The home has great potential for value and growth.
Chances are you’ll eventually sell this home so resell value should be as important as finding the right property for you now. Take a look at the potential growth the area has. Is it close to good schools, convenience amenities such as grocery stores, or will there be a lot of construction over the next few years with the addition of a strip mall that may or may not be beneficial to the community?
Finding the right home in the right neighborhood, in the right price range, for the right size, is really putting all the pieces together for the perfect combination of a home you’ll love, have no regrets with, and will be protected for the future.
Feel free to call us at any time for more information on vacation properties, condos for sale in Panama City Beach, and what owning a vacation condo looks like.