5 Ways to Recession Proof your Next Home Purchase.

5 Ways to Recession Proof your Next Home Purchase.

1. Location. You’ve heard it over and over again but it’s worth repeating. Buy in the best neighborhood you can afford. When the market slows down, the best neighborhoods in town are always in demand.

2. Good schools in safe areas are the number one reason an area of town is crowned “the place to live”. Buy a home in the best school district and you will be able to sell your home in any housing market.

3. Location within the neighborhood can add or take away value. If you buy a home next to a busy, noisy road, your home will be worth thousands less than the home a few blocks up the street on a peaceful cul-de-sac. Avoid homes backing to power lines, railroad tracks or commercial buildings.

4. Single Family homes detached homes sell better in a down market over condominiums and townhomes. The best selling homes have at least three bedrooms, two full baths and a two car garage.

5. Don’t buy the most expensive home in your favorite neighborhood. The larger, more expensive homes bring up the values of smaller homes. The flipside…lesser homes subtract value from nearby homes. Buyers want the nicest homes they can afford in the best neighborhood available. If you own the best house in your neighborhood, chances are buyers will skip over your home for a less impressive home in a more prestigious neighborhood.

These are just a few basic tips I give my buyer clients when we start a home search. There are of course many other variables to consider. If you keep these five principles in mind, then you will be well on your way to securing a home that will gain in value over time.

Need help finding the right home in the Raleigh or Cary areas?

Just send me a list of your criteria and I will give you a Free current list of homes to consider or go to www.4FreeList.com .

I tell my clients “ I won’t recommend a home purchase to you that I wouldn’t buy for myself”. Visit us on-line at www.TriangleNC.com.