The Buyer’s Agent of Asheville Announces Top Five Reasons Not to Buy a Home

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Consider the pros and cons of location, value, condition, resale potential, cost of ownership and property boundaries when purchasing real estate in Asheville, North Carolina.

Buying a home can be stressful. Lifestyle, needs and desires play a role in choosing the esthetics of a home, but what about the reasons not to purchase a home. The Buyer’s Agent of Asheville, North Carolina has announced the top five things to look for when making the decision to purchase a new home.

Location - Consider where the home is located. "Location, location, location," is a common and almost hackneyed phrase in real estate literature. The idea is to buy a house that will appeal to the largest number of potential future home buyers. A careful choice of location can minimize potential negative influences on future resale value, and maximize positive influences.

Value / Condition - What is the value of the home today? What are the values of the homes in the area? Does the home need work? Is the home a money pit? It may be the perfect neighborhood, but the house may need a complete overhaul. The idea of throwing money into a home that may never give it back may not be the best idea. Consider an appraisal prior to making a decision.

Resale Potential - Since most home buyers expect to buy a bigger and better home someday in the future, resale value is an important factor in decision-making. Is the neighborhood or homeowners association kept up and located in an area of town that will stand up to future city growth or economic development? Consider what businesses / schools are located around the vicinity and what this area may look like five years from today.

Cost of Ownership - Consider the costs beyond the sales contract. Are there homeowners association fees? What will yearly property tax and homeowners insurance be? On-going maintenance, utilities and repairs will also need to be a consideration when deciding if this is a dream house or dump it now house.

Property Boundaries - Get the details on the lot lines. Too often down the road a neighbor may ask for a fence line to be moved or a tree to be taken down. Be sure to know the exact specifications of your lot.

Most people are unprepared for big repairs and hidden costs of home ownership. Understanding the potential ups and downs prior to signing the contract is important. Put emotions aside, look at the long term property goals and weigh the pros and cons with lifestyle needs and wants on real estate purchases.

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Jon Corbin
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