Real Estate Musts - Location, location, location...
The old saying is so true. A home's value is very much dependant upon its location. So when someone says. "location, location, location" make sure that thought stays in forefront of your mind when you consider purchasing real estate. The greatest thing about owning a home or condo (besides the write-off for taxes), is the fact that homes generally appreciate in value.
Most people are well-aware of the real estate trends throughout the nation. In the last few years, sellers in most parts of the country experienced tremendous gains on their home investment. Case in point, I used to live in the suburbs of Seattle and bought a nice home in the valley for $125,000. The area was just beginning to be developed and was very quaint with one gas station, small restaurant, and a few shops. Seven years later and a few strip malls and more communities in the area and my home that I sold for $160,000.00 was now selling for $250,000.00. If only I would have stayed there a few more years, I could have made a killing.
Well, now I live in Michigan and the economy and with the influx of homes that are for sale, Michigan has not experienced tremendous gains like the rest of the country. Overall, realize that real estate still continues to be a good investment.
Here are some of the things to consider when you think about purchasing a home that is for sale. In concerns to the location: What do you desire in a community? How important is character, quality of schools, access to work, recreational facilities, and the closeness of entertainment hot spots? Answering some of these questions will help you figure out what type of neighborhood you are looking for.
Realistically, the neighborhood should be top priority. Take a long walk and observe the details of the neighborhood. Talk to the neighbors and try to get a feel for the area. If you are looking at new homes, ask the neighbors about their experience with the builder. Asking questions will give you some insight and help you make a wise decision.
In downtown Grand Rapids, the vibrant city life of the downtown condos usually draws empty nesters, retirees and people without children. Downtown Grand Rapids with its influx of condos, the medical community and great entertainment venues all within walking distance have made this community a welcome home place for many.
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