ALL
PROPERTIES
AGENTS
OFFICES
RESOURCES
SEARCHES
RECENTLY RATED
Learn
Factors to compare when picking between potential homes
07-15-2011
Factors to compare when picking between potential homes
July 15, 2011
Home buyers can often tell right away if a home they're looking at doesn't suit their tastes or needs - but what happens when they're torn between several options? Sometimes, buying a home isn't as simple as coming across one's dream property. Home buyers might have to choose between a couple of different homes, and in those cases, it helps to have an experienced real estate agent to break down the positives and negatives of each. Below are a few factors home buyers should keep in
mind when they're down to the finalists in the home buying process.
Compare maintenance, utility and tax costs
Two homes that are similar in purchase price may differ greatly in secondary costs. The National Association of Realtors (NAR) reports it's important to ask the home seller for past utility bills and property tax payments, since this can determine how much the new home buyer will pay for those expenses. Home sellers may also be able to give some idea of what it costs to maintain the property regularly. According to Freddie Mac, maintenance costs should average between 1 and 3 percent of a
home's value each year. If all other matters are equal, these considerations might make the difference in a home purchase.
Which will retain its value better?
A number of factors determine how a home's value is calculated, including its location, condition and the value of surrounding properties. Freddie Mac reports a real estate agent can normally provide information on how a particular home's value has changed over the years, providing at least a general idea on how well it will retain its value in the years to come. Home buyers may end up choosing one property over
another because it will hold up better price-wise in the long run.
Weigh specific characteristics
Beyond financial matters, home buyers may want to compare each home's features and amenities one last time. According to Liberty Mutual, it helps to look into each home's safety features and construction quality. Additionally, NAR reports it can be helpful to compare each property's neighborhood and see which would fit their desires and needs better.
Ultimately, Freddie Mac reports these characteristics can affect how well the property maintains its value over time, and real estate agents can provide appreciation-related knowledge to help home buyers break the tie.
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
Coldwell Banker Real Estate LLC will never sell or provide information to a third party without your
prior consent.
Click here to see our full Privacy Policy and Terms and Conditions of Use
Click here to see our full Privacy Policy and Terms and Conditions of Use
Top Tools
close