Location, size, amenities and condition. At first glance these might all seem to be in conflict with each other. But that’s what a wish list is all about. If you take the time to think about what you want, the inconsistencies and conflicts will come out.
1. How close to work do you need to be?
2. Does driving on a major expressway or in traffic make you crazy?
3. Do I want a big garden?
4. Do I want a home in “mint” condition or do I want to fix it up over time?
Lifestyle is a very important part of a wish list. Now prioritize that list. For example, would you give up a wood-burning fireplace if it meant having a two-car garage?
If a wish list is everything you want in a home, a reality check is everything you can’t live without. For example, you may want a three-bedroom home but you absolutely need two bedrooms.
Finding the right location is a problem for many buyers, not just first-timers. In part, the answer will be decided in the spot where your bank account meets your wish list. One family I was helping to relocate from Dallas to San Diego wanted to live by the beach. They had had a large house in Dallas with a swimming pool located on a cul de sac. For the price of their home in Dallas they were able to get a two-bedroom condo one block to the surf in Ocean Beach and they decided that was a pretty good trade.
What is a poor location?
A location that might be difficult to sell because:
—It is on or near a highway.
— A center of nightlife activity
—-Near a busy intersection
—-Near a school
—-In the midst of a high crime area
—-On a run-down block or in a deteriorating neighborhood.
Of course plenty of people can spin what might be called a poor location into a positive selling point. If you buy a home in a run-down neighborhood but it surrounded by yuppie housing you might be able to turn a profit as the neighborhood improves over the years. Being located next to a noisy high school may mean you can keep an eye on your children throughout the day.
A good location is one that allows the owner to thoroughly enjoy every aspect of his or her home.
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