Most people will end up buying relatively few houses during their lifetime, which means it’s hard to accumulate a lot real estate experience. However, buying a Bakersfield Short Sale home can be simplified if you focus on treating your purchase like any other investment. Instead of relying on how a house makes you feel, evaluate it like you would a stock purchase.
5 key things to consider before purchasing property:
1. Correctly evaluate your needs. Make sure you have a good understanding of both your current and your predicted future needs. For instance, if your kids are all heading off to college in the next two years, you may not really need the large five-bedroom house you’ve been looking at. The key is to be honest and realistic.
2. Don’t fall in love. Obviously, you want to enjoy living in your house, but don’t get emotional about things you could easily add to a less expensive Bakersfield home make you rush into a foolish investment. If the house is what you need and priced appropriately, then go for it.
3. Know your comparables. The greatest mistake you can make is overpaying. Arriving at an exact price can be hard. Even professional appraisers can arrive at vastly different valuations. However, carefully looking at the area’s recent sales can let you know if you’re at least in the right ballpark.
4. Be honest with repair and renovation costs. What happens if you find what appears to be a great deal until the inspection comes back with a laundry list of necessary repairs. A lot of buyers may run away, but it could still be a great deal. The only way to know for certain is to get a bid from a professional.
5. Do your homework. If you like a property, made sure it’s in good condition and are comfortable with the price, seal the deal. It’s a lot of money to spend, but doing all of your research can make it a lot easier to reach a decision and move forward.
For more tips on purchasing a Bakersfield Short Sale home like an investor, please call me at 661-717-5856 or email me at Miguel@elitereoteam.net
Miguel is a Real Estate agent at Miramar International INC 01736656, covering the greater Bakersfield area.
Phone: 661-717-5856
Email Me
Helping Bakersfield home owners avoid foreclosure with a short sale
Miguel Garcia specializes in short sales in Bakersfield. I am your Bakersfield Short Sale Specialist Realtor and Bakersfield loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advise under any circumstance. Seek legal advise and representation in all legal matters.
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