At Coldwell Banker Preferred, Realtors® in Bakersfield, we know that everyone has different ideas in mind when looking for a new home, but there are a few factors that come into play with every house. As you’re attending open houses and considering homes for sale in the area, the three things that are likely continually popping into your mind are price, location, and condition. They might be in a different order than that, and they may rearrange with each house you look at, but they’re always there, influencing your opinion on a certain property. In this post, we’ll cover all three and by the end, hopefully you’ll have a better idea of how they can work in your favor when purchasing a new house.
Price is often the first thing that people look at when shopping for homes. Everyone has a budget in mind when thinking about moving, and a house that’s in their price range is definitely attractive, at least at first glance.
Some buyers, especially those who keep a close eye on the market, watch for prices to drop before they consider purchasing a home. Others will check the internet and local ads for deals on foreclosure properties and short-sales, so that they can get the best price on a new house.
If you’re thinking about buying a home, then price definitely needs to be one of the things you consider as you look at properties in the area. A particular home might catch your eye due to its location (which we’ll cover next), but if there’s a higher price on it, you may need to adjust your expectations and what you can afford and whether or not it’s worth paying a bit more for the home you want.
Another important factor to keep in mind when looking at a house is where it’s located. Price might not be a problem for you, but what’s most important is how close your new home is to schools, nightlife, hospitals, and more. If you have kids, then you might want to be close to a local park that has playground equipment and sports fields. If you’re a young professional, then you likely want to be close to the city center, where all the commerce and activity takes place on a daily basis.
A home in a popular location is usually going to cost a bit more, as will new construction properties in an emerging development. If location is at the top of your list of priorities, then you may have to compromise on price and condition, in order to land the home you want.
When you’re looking at homes for sale, location and price might come into play, but perhaps not as much as condition. You might be looking for a fixer-upper, and while it may not be in your preferred neighborhood, it’s definitely within your price range because of its condition. Depending on when the house was built and how well its been kept up, you might find that there are opportunities to update the kitchen, bathroom, and other spaces to bring the property up to date.
On the other hand, if you’re looking at a property in a prime neighborhood, but the price seems a bit high for the condition the house is in, then you might have some bargaining power when it comes to the final purchase price. If nothing has been updated in decades, then it’s possible to bring the cost down before settling on a final amount.
Contact Us Today
If you’re thinking about buying a home, then please contact our team of Realtors® today. We’d love to see what you have in mind for your next home, and we’ll gladly talk price, location, and condition with you.