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Saturday, January 21, 2017

Single and Looking for an Investment Home?

Are you single and considering a home for investment? Buying a new home can be a great long term improvement in your net worth, but it comes with a lot of things to consider. If you are a first time homebuyer that is ready to make this commitment, then I’ve got some great tips for you.

What is Your Goal in Purchasing a Home?

Any time that you look at making an investment in property, you need to identify what your main objective is. Determine what type of investment you are looking to make. Decide if this is going to be a home you plan to stay in, or one you will fix up and flip or one you will rent out.

Choose the Right House

The size and layout of your home should be a huge consideration. You do not want to purchase a home that you will quickly outgrow. Are you looking for a place where you can grow a family? A huge party house? A simple dwelling where you can chill after a hard day?

Location, Location, Location!

If you think that location doesn’t matter, you might want to re-think that. Understand that when you make your purchase, you might have to sell one day. Look at the location of the house from a re-sale value position. If you are in area where homes do not sell quickly, it will be more difficult to sell later on.

Think the Unthinkable

Before making a huge purchase, you will want to run through the list of “what if” scenarios. If you have an accident or get laid off from work, you will need to figure out how to make the payments on your new home. That is why it is best to have 3-6 months or more of emergency funds set aside.

When you get these questions answered, it is time to move forward on home buying. It can be one of the best decisions you make in your life. Work with a real estate professional for the best outcome! For homes in San Antonio, TX – or if you need a referral to a real estate professional anywhere in the country – check us out at http://www.mysatexashomes.com/