Have you found a hidden gem during your house hunt?
Beginning the home buying process can be truly nerve-wracking. As you are looking to make the biggest financial investment of your life, this really isn’t a surprise. However, during your hunt, there’s a chance that you might discover a truly exciting prospect. Here are some of the characteristics of a hidden gem.
Finding a home in an up-and-coming neighborhood can end up being a great deal. Oftentimes, real estate agents will know which neighborhoods are on the brink of being “hot,” but there are other signs that you can look for yourself. For instance, if there is a lot of construction and renovation taking place nearby; this shows that homeowners are pouring more money into their homes, raising the whole value of the neighborhood. Additionally, if new businesses are popping up in the area, you can tell that the neighborhood is experiencing major growth.
While many homebuyers are dedicated to finding a new construction with all the latest amenities, you might do well to look for a home that needs a little bit of work. For instance, go on the hunt for homes that have good bones (solid foundation, roof, plumbing, and electrical systems) but need a cosmetic facelift. These homes are often overlooked and therefore priced a little bit lower. With the money you save, you can easily afford to make the updates that you want.
When buying a home, location sometimes trumps space. Even if a home is small, you will likely be happy with your purchase if it’s in a desirable neighborhood. This is especially true for couples or small families that are just starting out. If you do end up needing more space than the home can provide, then you can always sell. Because the home is in an area of high demand, you will receive a stellar return on your investment.
These are some of the indications that you’ve found a hidden gem during your house hunt. Now, make sure you act quickly to snap up the home before someone else does. If you are buying in the Hermosa Beach area, contact us at Brighton Escrow. We are ready to offer you the top-tier escrow service that you deserve today.