Making Big Changes
Live in your home for 12 to 18 months before undertaking any major renovations such as additions or knocking down walls. What you initially think you want may change after you’ve lived there for a while. – Fran Carpentier. Get the real scoop on which home improvements are really worth the investment, you might pause before adding a pool.
When you have a specific house in mind, think about potential developments. For example: If the home is near a busy road, will there be expansion in the near future? If there is a lot of open space around the home, will more homes be built in the area soon? If there are several homes for sale in the neighborhood, are they selling quickly and who’s moving in? It may be difficult to find concrete information about future developments. Read city council, county commissioners and planning and zoning agendas and minutes for the location you’re looking at to get an idea. Also, keep in mind the potential resale value of your future home because no one knows what the future holds and you may need to sell earlier than you imagined. Find out if your state has the hottest real estate market and what the housing market looks like in 2018.
Learn about some of the best and worst projects to improve resale value.
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Schools are Important
Even if you don’t have kids yet or don’t plan on having kids ever, schools in the neighborhood are important to consider when buying a home. A good school district can help maintain home values and boost resale opportunities. It usually brings with it higher taxes, which go partially to the school district. Do your research to determine if buying in a good school district is worth it for your household. Read up on the house hunting mistakes you can easily avoid.