Benjamin R. Frink - Century 21

03/06/2024

A loan for a tiny home can be difficult to get, but it's not impossible. What type of tiny home would you go for?

Tiny homes don’t cost much, but they can require a tiny mortgage. Unless you have $30,000 in cash to...

02/28/2024

Designers advise putting your money into six specific areas.

If a kitchen renovation is on your radar screen, and you plan to stay in your home long-term, you ca...

02/21/2024

Are you selling? Consider your listing options.

Choosing a real estate professional you’re comfortable with is an important piece of the puzzl...

02/14/2024

Do you qualify for a VA loan? Here are the pros and cons.

For veterans or service members looking to buy a home with a Veterans Affairs loan, there are some e...

02/07/2024

Give your home a chic update by turning your favorite books into accents, centerpieces, and more.

Are you a bookworm? Do you want to give your home a chic update using what you already own? Perfect....

02/04/2024

A Nice Home Or A Nice Neighborhood: Which Matters More?

When you start shopping for a home, you probably have a very specific image of what you would like that home to look like. You probably also see the perfect neighborhood surrounding that perfect home. Every buyer sets out with an image of the house they want to own, but in reality, compromises are often necessary in order to stay within your budget.

Compromising On The House

There may be certain things that are non-negotiable when it comes to your new home, such as the number of bedrooms or a two-car garage. But as you take a look at the homes that are within your budget, you may discover that it is not likely you will get everything on your wish list. But the great thing about owning a home is that you have the power to remodel it at any time. Once you are in your new home, you can renovate or even add on if necessary to create the home you really want. And if you have managed to stay below your budget, you will even have the extra money each month to make some of those changes.

Compromising On The Neighborhood

So you’ve found the house of your dreams, but the neighborhood isn’t precisely what you were hoping for. Too much traffic, some houses that are becoming run down, or many other issues can mar the area your house is in. In most cases, you will have to accept that you cannot change the neighborhood, and this means that you have to decide if the problems are things you can live with or not.

In some cases, buying in a run-down neighborhood can be a strategic move. If many people are buying up the houses and improving them, then your home might one day be worth a lot more. However, you must realize that this is a risk and it might not work out that way.

Another thing to bear in mind is that if you choose to buy the nicest house in the neighborhood, you may have trouble selling it down the line. If other houses in the area are available for less, why would anyone buy your expensive house to get into the area?

So Which Matters More?

In the long run, when it comes down to choosing between the right house and the right neighborhood, you should choose the right neighborhood. While you can change your house for the better, you can’t count on your neighborhood changing; in fact, it might get worse. So choose the best neighborhood you can afford even if the house there isn’t perfect.

01/31/2024

Take a look at this breakdown of how condo insurance works.

Buying a condominium can be a smart start to being a homebuyer, without many of the maintenance hass...

01/24/2024

How do you build equity in your home? Read on...

If you’ve owned a home for several years and made responsible financial decisions, you may hav...

01/17/2024

Take your current debt into account, as well as potential future expenses, to determine how much mortgage you can afford.

Homeownership is a dream for many people, but some take on more debt than they should. If you’...

01/10/2024

The right mortgage lender can be the difference between getting a loan and losing your dream house.

Taking out a mortgage to buy a house is a huge step. The amount and terms of the loan will have a ma...

01/03/2024

Sometimes following someone else's lead is the best way when it comes to energy efficiency.

Germany leads the world in energy efficiency, followed by Italy, Japan, France and the United Kingdo...

12/27/2023

Not all roofs are created equal - neither are home insurance policies. Find out what is and isn't covered in this article.

A home’s roof is its most important feature, and for good reason. If the roof leaks or is damaged in...