Whether you're buying for an investment or for a place to live, here are the 6 things real estate pros know about buying a home:
- Study local pricing – check with realtors to find areas where prices are accelerating and the average home price is higher than other nearby areas.
- Lock in an interest rate by getting pre-approved for a mortgage; this also tells your potential seller that you're a serious buyer.
- Investing in a growing community can be very profitable, so look for a catalyst, such as new infrastructure in the form of roads and schools.
- Investigate property taxes – find out what the tax rate is per $100 of assessment, when the last assessment was made, and if one is expected soon.
- Look for schools that are moving up or are at the top of the list of school rankings – you can find this information on the state's board of education website or check on PSK12.com.
- As homes become more expensive in a major city or town, surrounding areas with good, or planned upgrades to, major bus and rail transportation will become more desirable.
You can read the full article here.