Its no secret that real estate is booming in the suburbs. If youre looking to relocate from the city, there are plenty of advantages to be found, but its important to do your research first. For those who are ready to take the plunge, here are a few tips to keep in mind when house hunting in the suburbs.
Be Prepared for a Sellers Market
Because demand is so high, buyers should expect to encounter an extremely competitive market. Bidding wars and multiple offers have become commonplace even as prices continue to surge. Once you have a clear idea of what youre looking for and what youre willing to spend, be prepared to act quickly.
Find a Home Thats Worth It
One of the most important things when buying in a sellers market is to consider worth versus value. Yes, prices are high, but a home where the whole family can be comfortable and enjoy peace of mind is priceless. You may have to pay top dollar today, but in the long run, it will probably be worth it, especially if you plan on making this your forever home.
Look for the Right Town
You might be under the impression that all suburbs are the same, but youll certainly benefit from taking the time to find the right town for you and your family. Of course, school districts are a top consideration, but other characteristics to look for include a walkable downtown area or access to nearby nature and activities.
Account for Hidden Costs
City dwellers should be ready for unforeseen expenses when making the move, like higher heating and cooling costs, landscaping, snow removal and more maintenance in general. Additionally, you might have to buy a car (or two). These expenses can quickly add up, so its important to be aware of them from the start to avoid any surprises.
Published with permission from RISMedia.
