Buying a home for the first time or even if you are on your 5th property can be stressful and confusing. Buying a home is not just about negotiating the best price but you also have the floor plan, number of bedrooms, lot size and configuration, location, condition, construction style, and decorating among other things to consider.
The Lot Makes A Big Difference In Home Value?
You have heard the term "location, location, location" used in real estate before I am sure. If you listen to Donald Trump, that is one of his main considerations before buying a piece of property.
The same house on different lots can add hundreds of thousands of dollars to the value of a home. If you back up to a busy street, it can take away value from your home. A home that backs up to a busy street would be considered to have incurable functional obsolescence. Whatever you do to the property, the power line over your backyard is not going anywhere.
Backing Up To Busy Road Can Reduce The Value Of Your Home
My advice here is to stay away from busy streets. Road noise for most homeowners is not desirable. You may be from Manhattan and are used to constant street noise. It may not bother you but I can promise you that it would bother a majority of home buyers.
It is important to think about the day when you will have to sell your home. You need to be aware of what are negative features to the average home buyer if you want minimum issues when it comes to sell in the future. You may not care now but you will in the future if you are trying to sell your home and nobody is writing any offers.
Are Two Story Homes Bad?
Two story homes are neither good nor bad. You just need to keep in mind what is typical for the area you are looking in. In the Southwest for example, keeping a two story cool in the summer can be difficult especially if it has a west exposure. People may be used to two story homes on the East Coast and Mid West but in the Southwest, a lot of people just do not like them.
I have lived in Arizona most of my life and know from living here that two story homes are very expensive to air condition and keep cool in the summer. When I was out looking for a new home I would not even consider one. You would only know that if you have lived in Arizona for a while.
My Back Yard Faces West Is That Bad?
The direction that your yard faces is more of a function of where you live as to whether or not it is desirable. If you live in a climate that is colder you may appreciate more heat. If you live in the Southwest a west facing backyard is not desirable.
I will use my Arizona example again. In Arizona if you want to sit on your patio in the afternoon, you will catch the blistering afternoon heat and sun on you. You really would not be able to go out there until the sun goes down. If you lived in a cooler climate you might actually look for a west facing yard so you would have more sun on it.
Only One Bathroom – Will This Hurt The Home’s Value?
Buying a home with only one bathroom would be considered functionally obsolete. It may have been the norm in the 1950’s but by today’s standards it is out of date. Buyers today are looking for 2, 3, 4 or more bathrooms in a modern home.
You may like the house now but in the future you will have to sell it and having one bathroom will cost you. You will either take a huge price reduction or will have to put an additional bathroom in and that will cost you money.
Hopefully this article gives you a little more insight when you are out home shopping. If a home does not feel right, just keep looking. Remember, trust your gut. The right home for you usually does not require a lot of consideration. You will know it when you see it.
