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Articles
Think Re-sale Before You Purchase Phoenix
Properties
It's hard to think about selling Phoenix
properties while you are in the middle of searching for a
Phoenix home. Most often, you plan on living in your new home
for quite some time. But actually, most people will buy and sell
their home within five to seven years. So if you are looking for
a home in Phoenix, you need to carefully consider the homes
resale potential before you even make an offer.
Many owners may purchase up to 7 homes in their lifetime.
Typically, a buyer finds a house that meets their current needs
- enough bedrooms and baths, in the right school district, easy
commuting potential, close to shopping, etc. But, long term our
needs tend to change. Many owners use their first home as a
leverage to buying their next home. Usually, the next home is a
step up, either in size or location.
When your goal is to eventually move in to another home, you
should consider a home purchase carefully - you want to meet two
goals: a home that offers you the greatest potential to build
equity; and a home that has the best ability for resale.
There are a number of factors that contribute to a Phoenix homes
resale value. One of the first considerations is the location.
While many areas of Phoenix have been
active in terms of real estate purchases, as the market slows
there are definite areas that continue to grow in popularity.
Examine neighborhoods carefully to see how active the current
real estate is and also what plans are made for the community in
the future.
Also, consider buying trends. Are most of the buyers for Phoenix
properties young buyers, families, or retirees? There are
districts of Phoenix that are better suited to certain
lifestyles.
Last, consider what changes (if any) you feel are necessary to
make to a property. Many buyers look at homes that are "fixer
uppers" as a way to make substantial equity. While it's true
that some changes can make a big difference to a homes value,
make sure that you aren't considering changes that are outside
of your scope, either in abilities or in budget.
The Phoenix market is in the perfect position for careful
examination - it's slowed down enough that you can really take
your time and think about the future potential for a property,
rather than feeling pressured to buy.
You can find the perfect home in Phoenix -- it just takes a
little time to search and patience to find the gem among the
rough stones.
Utilize my
Phoenix MLS services to find Phoenix Properties.
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