One of the most frequently asked questions from my friends and clients is "is this a good deal?" Well, first we should define what constitutes "good deals'. If you are searching for a home or property, a good deal is one that provides two things. The first is a good return on your monetary investment. Don't expect to turn around and sell a property in a year or two for a profit. It happens, but much less often today than five years ago. So, look for a property you can live in or hold for at least five years. That way, adjustments to the market will usually result in equity. The second factor which can be considered a "good deal", is a purchse that achieves the result of improving one's quality of life. For a family, that may be a property that is a bit higher in price, but places the children in a good school district, for instance. Or, the neighborhood may be one that has amenities conducive to the well being of the family, such as a community pool, tennis, bike trails and shopping.
So, consider all factors when you and your realtor look at a property. That way, you can have more comfort in knowing you have made a "good deal".
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