They say that home is where you make it, but a house can certainly help! It is estimated that there are over 115 million housing units currently being occupied across the United States. Based on the current rate of population growth, it is estimated that around 1.5 million new housing units will be needed every year to keep up with demand. For home buyers this means more options; for home sellers this means more competition. No matter which side of the housing market you find yourself, here are three of the most essential factors to consider when buying or selling a home.
With so many homes on the market today, home buyers enjoy the luxury of having more choices than ever. This can unfortunately lead to frustration for home sellers trying to sell their home without paying for expensive improvements. Picking home improvement projects that beautify and add value to your home is an investment like any other — determining which have the highest return-on-investment rating requires extensive research to determine what projects will bring out the best in your property.
Location, Location, Location
The one thing that home sellers cannot change is the location of their home unfortunately; there is a reason why beach real estate sells for more than similar homes without a view. Home buyers ought to consider the whole property when looking at a home, as water features, forests, and fields can all add to the value of a home while simultaneously forecasting unique issues homeowners may have to face. Most beach real estate, for instance, account for potential flooding by hoisting the actual house several feet with supports — this can also make for a convenient parking space as an added benefit!
Real Help from Realtors
According to the Association of Real Estate License Law Officials (ARELLO) there are over 2 million licensed realtors across the nation, yet many home buyers and sellers often try to bypass the need to hire real estate agents in an effort to save money. The expense of marketing a home by themselves and the risk of making an ill-informed purchase are very real issues home buyers and sellers alike have to address when proceeding without a realtor. The question of how to find good real estate agent never has a clear answer; finding reviews of local agents online is certainly a good place to start.