Did you know that capital gains taxes are not payable on the sale of a home you own? Depending on the concessions made when you purchased the property, the neighborhood can have an impact on everything from how the home appreciates to how easy it sells.
The following questions should be asked before you decide where you want to purchase a house.
What are you most proud of about your home?
You have a lot of experience in the neighborhood you are looking to buy a house. You can start to narrow down your search by looking at what you love about the neighborhood you live in and areas you have lived in.
What would you like to see differently?
Similar thoughts can be applied to the peculiarities of the various neighborhoods you have lived in. Perhaps you didn’t know that there was a sewage plant right next to your house, or that there was weekend bar and restaurant traffic from another area.
What importance do you attach to each one of these factors?
This list will be growing as you go. Now it is time to rank all the items.
How much do you have to spend?
This may not matter as much depending on where you live. There are many opportunities to get in the door at entry-level homes in upscale areas, but you need to know how much you can afford.
Are you a parent? Pets? In the next five to ten years, will you be able to care for your pet?
Buyers make a big mistake when they shop for a neighborhood that suits their lifestyle, and not one they will grow into as homeowners. It is impossible to predict what life will throw at you so it might be a bad idea to plan to move to a better school district later in life.
Are you in a committed relationship with someone? Do you date? What will it do to your choices?
While a luxury condo in the area with the best nightlife might seem like an excellent choice for entry-level housing, it may not be the right place for you if your future plans include moving in with your partner. If you are looking to get married, it might not make sense to move to an area that is primarily known for its large family population.
Which type of home would you like?
A single-family home is better for you if you have children or pets. If you plan on renovating your home, think about how you will clean and maintain it. Then consider the type of homes that best suit your needs and look at the neighborhoods with a lot of these types of homes.
This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for homes for sale in Rio vista Fort Lauderdale we are the real estate team for you!