There are lots of myths about buying a home out there. If you’re considering buying Dawson Springs real estate after renting, you might even believe a few of them. We’re here to set the record straight for you, as well as help you find just the right Dawson Springs home.
A lot of financial analysts speak of homes as investments. That is, you expect to make a profit when you sell the house. This is true for some people, like those who expect to have to move in a few years or professional real estate investors. However, it’s not a risk-free investment, though buying a house is usually a good long-term investment. If you’re a first-time home buyer, it’s important to be realistic about how the market in your area is moving. Don’t imagine that house flipping is necessarily profitable, and don’t confuse the return you get on an investment property versus a house you actually live in. For lots of people, it’s better to compare home ownership to renting. Almost everyone comes out better in that comparison.
Be Sure You Find the Right Dawson Springs Home for Your Family
You might have heard the advice to buy the cheapest house you can in the best neighborhood in your city in order to realize a good profit on the house when you sell it. There are several things wrong here. To begin with, the most prestigious neighborhood might not be close to the places you need to be most often. For a lot of people, it’s a better idea to live in a good neighborhood, not necessarily the “best”, which is close to work, school, the grocery store, and your doctor. Secondly, you need to ask why the house is so cheap. Do the current owners just need to move fast? Then it’s probably okay. But if there are major issues, you might end up spending way more to fix it than you will get back. In addition, most people who live in an exclusive neighborhood expect a high-end house, so you might have a hard time finding a buyer on a significantly smaller, lower end home.
On the other end of the spectrum, buying a foreclosure isn’t always a great deal. These houses might have major structural damage, due to the previous owner’s inability to afford repairs. A foreclosure might even have been badly vandalized, depending on how long it has been vacant. Be aware that banks aren’t required to disclose as much information as ordinary seller are.
If you’re looking to buy Dawson Springs real estate, please get in touch with my office! I’d be happy to talk through what your needs are and help you find the house that fits them.