Any new home buyer will get lots of conflicting advice when it comes to searching for the right home. Lot's of people will tell you to consider the home's location, your future plans, the school system, and the growth of the community around your home. These are all important considerations. But there's one more thing to think about when it comes to finding the right home in El Centro - the potential for resale.
Most people don't buy a house will plans to resell the home forefront in their mind. What most people don't necessarily think about is that the average home buyer will own 5 to 7 homes over their lifetime. Real estate is one of the best ways to build wealth, especially in a community like El Centro, where home prices just seem to steadily increase. You can find a great starter home in El Centro, and as your home increases in value, you can eventually sell at quite a profit. Then you can put your earned equity into a new home.
If you think that there's even the remotest possibility that you will sell your home in the future, you should consider the resale potential carefully when you go real estate shopping. There are several factors you should consider that will affect resale potential. Location, location, location. That's the mantra of all real estate agents - consider location first. Location is important because it affects the price you'll pay for your home and how much you can reasonably expect the home to increase in value.
Is this a good part of town? Do you see a great deal of growth or change? Is it a popular part of the city for other buyers? Is this a "turn around" part of town - part of the community that's undergoing a revitalization? When a city is going through a dramatic change, it can be a bit unpredictable - it's hard to say whether the community will go up or down, so be cautious. How current are the features and appliance in the home? Sometimes you can get a great deal on a home that seems a little tired or downtrodden. Depending on how long you plan to stay in the home, those features could be good or bad. When you see old-fashioned elements to a home, consider how easily those features can be changed.
It's one thing to put in new carpet, or paint all the walls. But if you have to replace kitchen cabinets, countertops or bathroom fixtures, you are going to have a great deal more expense. Will you be in the home long enough for these changes to payoff? How much elbow grease are you willing to put into the home? It's easy to have big plans for changes to a home, but think about your time and willingness to undertake a project. Home remodeling isn't for everyone. Don't let minor changes keep you from owning a great home, but don't buy a home that needs major renovation, especially if you are new to the do-it-yourself remodeling project. El Centro is a great market for real estate.
The most important part of finding a home is to make sure you have a home you can live with, and a home you like. Then, you can sit back and watch the value of the home increase - and your resale potential increase along with it.
Click here to get a free copy of Jeff Nelson's, "7 Common Home Buying Mistakes," a 10-page report that describes the mistakes to avoid when purchasing your new home in El Centro, California.