Maybe you are single and buying your first home. Most likely, this isn’t going to be the home you raise kids in. We still encourage you to buy in a growing family neighborhood where schools are established or are in the phase of being built. This is the perfect investment scenario. A home where families are flocking and schools are growing is only going to go up in value. So buy that family home even if you don’t plan on staying in it for the long haul—your wallet will thank you in the end. Of course, realtors and sellers have a legal obligation to reveal pertinent things they know about the property. Things such as past floods, restorations, and future building proposals in the vicinity are all topics that should be revealed to a potential buyer. Wouldn’t we all like to know if a baseball field is proposed for construction across the street?
Although, sometimes the realtor is in the dark just as much as the buyer. Perhaps the seller has hidden some of the less attractive events that have gone on in the home—such as mice infestations or toilet overflows that soaked into the drywall. Your best bet is to hire a trustworthy realtor. Ask your realtor to do some leg work for you (that’s their job after all); ask them to look into city plans, future schools, roads or other construction proposals, and past insurance claims. A trustworthy, reputable agent is paramount to discovering the real truth behind the walls of your potential dream home. We have mentioned that stretching yourself a bit when it comes to price can increase your profits in the long run, but you still need to be very careful that you are buying something that leaves money in your budget to buy food. Avoid rich house, poor man syndrome.
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