Want to get the most house for your money? Here are some guidelines for buyers:
Look for that special little enclave inside an expensive neighborhood.
Home buyers have long been encouraged to seek the least expensive house in the most expensive neighborhood they could afford. This is because property values in that area will rise more swiftly than those in a low-cost neighborhood. In fact, the value of the land could eventually outstrip the value of the building.
Search for a home with extra land that could be sold separately.
Do you have your eye on a nice neighborhood where the houses are attractive, but years are quite small? Yet within that area, you’ve located a property featuring atypically larger grounds? The chances are you’ll pray a premium for the extra land. Still, that premium could be less than the true value of the home if zoning laws let you divide the land into two pieces and sell one portion.
Visit again tomorrow for more tips on finding hidden value.
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