By Karla Nielsen | Dick & Karla Nielsen | Keller Williams Tampa Properties
You have been looking for a home and finally find one that you really like. Now you’re faced with the question: Should you make an offer, or not?
As a buyer, it’s always wise to first do your research, talk to the neighbors, check with the sheriff’s department and carefully consider a property’s long-term potential; it’s all part of your due diligence. After all, a property is not just a potential family home; it’s also an important investment of family dollars.
These are just a few of the many things you should consider before submitting an offer:
- Is the area’s average income increasing? The more affluent a neighborhood becomes, the higher the property values.
- Are employment opportunities growing nearby?
- Are there any nearby housing or community developments that will enhance the quality of life in the area? For example, if a park with walking trails or a new high school are being built nearby, the value of the neighborhood should increase.
- What are the crime stats in the area? Is crime increasing or declining? This can have a significant impact on future property values.
- What is the walk score? Are there public transit lines located nearby? Studies show that housing prices increase in areas where public transportation is close and convenient.
- Is the property located in a neighborhood dominated by higher priced homes?
- Does the property have features that are valued by most home buyers such as a large kitchen or a spacious lot. Features with broad appeal will make the home easier to sell when it’s time for you to move on.
- Are there short-term negatives about the area that will eventually disappear such as loud construction projects? Once those negatives are gone, homes will become more appealing and sales (and prices) should increase.