To Buy Or Not To Buy

By Karla Nielsen | Dick & Karla Nielsen | Keller Williams Tampa Properties

You have been looking for a home and finally find one that you really like.  Now you’re faced with the question:  Should you make an offer, or not?

As a buyer, it’s always wise to first do your research, talk to the neighbors, check with the sheriff’s department and carefully consider a property’s long-term potential; it’s all part of your due diligence. After all, a property is not just a potential family home; it’s also an important investment of family dollars.

These are just a few of the many things you should consider before submitting an offer:

• Is the area’s average income increasing? The more affluent a neighborhood becomes, the higher the property values.
• Are employment opportunities growing nearby?
• Are there any nearby housing or community developments that will enhance the quality of life in the area?  For example, if a park with walking trails or a new high school are being built nearby, the value of the neighborhood should increase.
• What are the crime stats in the area?  Is crime increasing or declining?  This can have a significant impact on future property values.
• What is the walk score?  Are there public transit lines located nearby?  Studies show that housing prices increase in areas where  public transportation is close and convenient.
• Is the property located in a neighborhood dominated by higher priced homes?
• Does the property have features that are valued by most home buyers such as a large kitchen or a spacious lot.  Features with broad appeal will make the home easier to sell when it’s time for you to move on.
• Are there short-term negatives about the area that will eventually disappear such as loud construction projects?  Once those negatives are gone, homes will become more appealing and sales (and prices) should increase.