Recently it seems that consumers are so busy trying to out deal their families and friends on a new home purchase that they miss out on real estate’s most traditional and time-proven mantra “location, location, location.”
“Location is a decision based on personal feelings, needs and perceptions,” said Debbie Hooge, owner and CEO of Tuscany Homes in Eagle Mountain, Utah. “Too many of today’s buyers are so desperate to get a good deal that they end up losing sight of their families needs and wants.”
A family has to live in a home, not just invest in one. Therefore, the primary considerations for the purchase of a home is whether or not that home is located in the right neighborhood, has the right kind or type of schools, is convenient for work or to commute to work, and is in a location that meets other primary needs such as the proximity to friends, family and recreational amenities.
Once these location needs are met, then the next criteria for choosing a new home is whether or not the home fits the needs of the family that will live in it.
For example, a family with one child would feel lost in a home with six bedrooms whereas a family with four children can feel cramped in an upscale home with only two or three bedrooms.
In the end, the fair market value of any home is what a willing buyer pays a willing seller. Therefore, whatever a buyer pays for a home, regardless of the perceived 'good deal' is the true value of that property. So, once a buyer purchases a home, they set that home’s value, at least for the next couple of years. This often times limits the amount for which the property is worth. Too often a family wakes up to find that their good deal is, in fact, a big nightmare of unfilled dreams and expectations.
Read this article at ArticlesBase.com
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