Barbara Corcoran: Bubble-Proof Home
Source: YouTube Submitted by: BarbaraCorcoran
It’s no big news anymore, home prices are far from recovery mode. Bargains are everywhere. However, the big questions are: which ones offer the best value? which one is more bubble-proof? where do I look for one?
In her interview in Good Morning America, Barbara Corcoran shared some great advice on where and what to look for, to make your home purchase bubble-proof.
Where to find bubble-proof homes?
- Pick the right community. Check which type of communities do most home buyers in your area prefer.
- Choose an area with a beautiful downtown. It makes the area more appealing to buyers
- It should have a good public school with a track record of high SAT scores. You can easily check this out at Move.com
- The homes should be affordable. It should be no more than three times the average income of people in the community.
- Low supply means increase in value. It should not be an area where empty nesters are moving out.
What to look for in a house?
- Look for a white house. According to a survey, white is the top color choice.
- Buy in the middle of the price range. If houses are selling between $200,000 to $500,000 buy within the $350,000 mark. It is where the biggest chunk of buyers go.
- Buy a sunny house. People associate a sunny house with happiness. If you have to choose between a small light-filled house and a big dark house, choose the smaller one.
If you’re looking to purchase in today’s market, this is a good quick guide on where to concentrate your search. It makes your future home less resilient to the real estate downturn.
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POSTED IN: Buying a Property
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