o two people have the same of your real estate.
take on the same Real
Estate, but you can use •Bedrooms and bathrooms: Three-
guidelines to help determine and four-bedroom houses are
whether a property is right for usually the most popular. Look
you. for houses with two or more
bathrooms.
•Location: Before you buy real
estate, make sure the community •Kitchens: Buyers usually find
appeals to you. Consider larger, renovated kitchens with
proximity to schools, markets, modern appliances more desirable.
and other amenities you find Kitchens that connect to a dining
important. A good community and room offer convenience. Also look
prime location can also help for easy back yard access if you
maximize the resale value of your enjoy entertaining outdoors.
real estate.
•Pools: Buy a home with a pool
•Lot size: While most buyers pay only for your own enjoyment—not
the most attention to the square as a real estate investment. Note
footage of a house, lot size can that families with small children
also be an important factor when may view a swimming pool as a
assessing the value of real danger, which can reduce the
estate. number of potential homebuyers
you attract if you decide to sell
•House size: Look for a your real estate in the future.
neighborhood where the homes are
roughly equal in size and •Garages: If the property has a
amenities. Nearby homes that are garage, make sure it is sized to
significantly smaller in size fit your lifestyle and the
could bring down the resale value neighborhood. Two-car garages
tend to be more desirable than pieces. Have the roof inspected.
one-car garages.
•Plumbing and electrical: Pay
•Closets: Make sure you have attention to bathrooms and
plenty of closet space. Many find bedrooms. Find out if the
walk-in closets in the master plumbing and electricity work.
bedroom desirable. You'll want
spacious closets in the rest of •Fixtures: Consider fixtures,
the house and space for linens such as ceiling lights, faucets,
and towels. and exhaust hoods. Also evaluate
property status.
Evaluate All Real Estate Aspects •Code: If the property includes a
home or building, confirm that
Property condition is a key the property satisfies local
factor in determining the value building code requirements.
and price of real estate. Inspect Consider calling the local
the property. Find out what might department of buildings and
need repair or attention. Find inspections to determine if the
out whether there are any property has been cited for any
termites or other pest issues. code violations. Some
Consider using a professional jurisdictions may have this
inspector trained to uncover information available online.
potential problems you may not
see. •Liens: Check for liens and
encumbrances on the property. If
•Structure: Look at all walls, the title is not clear, what are
ceilings, floors, doors and the easements on the property?
windows, as well as the Title insurance can be very
structure’s floor coverings for valuable in assuring that you are
any cracks, gaps, or missing taking title “free and clear.”
Finally, look at the market.
•Prevailing rents: If you intend
•Appraisal: Consider getting an to rent the property to tenants,
appraisal report. An appraisal check prevailing rental rates in
report can provide helpful the specific area in which the
information on the value of the property is located. Rents can
property compared to others in vary greatly by neighborhood.
the area.
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