4 Tips for Researching Your Next Home
1) Get a Feel for Housing Prices
You know the real estate adage "location, location, location." While lower costs might seem appealing, you need to think twice before investing in a house well below the median selling price in an area. There are many reasons housing prices can differ significantly from one part of a city or region to another, including:
- Crime: Obviously, if a neighborhood or portion of a city has higher crime rates, it could drive prices down. If prices are suspiciously low, make sure the crime rate is not high.
- Education: Access to excellent schools will potentially drive housing prices up, but that is a good expense if you have young children who will benefit from quality education.
- Home Builders: Neighborhoods and communities built by certain home builders with a reputation for quality may be more expensive than other communities; however, well-built houses are an excellent investment.
Make sure you get a feel for the reason housing prices are high or low in an area before settling on where to search for your next home.
2) Consider: Should I Build or Buy an Existing House?
Answering this question will be vital to your research. Do you like the idea of being the only owner of your house? Do you find you often want to combine options in two or more homes? Do you want to avoid lengthy and costly renovation projects? If your answer “yes” to any of these questions, you may want to consider building a house.
If you do begin to research new construction, here are some important tips:
- Find a local home builder with a quality reputation.
- Do not pay less to a builder who is willing to cut corners.
- Ask friends, family, and neighbors for recommendations.
- Find a home builder with a history of building homes that last.
- Search for home builders in neighborhoods and communities of which you are fond.
- Talk with a potential home builder before settling.
The team at Realstar Homes is here to answer any questions you have about our homes and communities.
3) Look To See if the Area Is Growing
Is the area for which you are searching growing? Do you want to move to a growing region? Here are some of the pros and cons of moving to a growing area.
The pros of moving to a growing area:
- A growing area will likely have an expanding job market.
- A growing area will likely build new schools and hospitals.
- A growing area will introduce new restaurants and amenities.
- A growing area will have access to shopping and entertainment.
- A growing area will help your home increase in equity in case you ever decide to sell.
The cons of moving to a growing area:
- A growing area might have excessive traffic.
- A growing area might have more entertainment than you can actually enjoy.
- A growing area might make shopping for a house difficult.
There may be a lot of demand for housing in a growing area; however, partnering with a quality home builder may help you skip the bidding wars for existing homes.
4) Look for the Lifestyle You Want
Getting a feel for the reasons behind housing prices, whether you want to build or buy an existing home, and whether you want to move to a growing area will go a long way toward helping you find your next house. You may also want to take inventory of what you want in a community, including:
- What kind of outdoor activities to which you want access (golf, fishing, watersports, etc.)
- What hobbies you want to pursue
- What cultural amenities you intend to experience, like art galleries and museums
- What access to restaurants and shopping you expect
You will not spend every waking moment in your house, so it is important to choose a community with access to the activities you and your family enjoy.
If you are ready to begin researching your next home, the team at Realstar Homes is here to help. We have been building the highest quality homes on the Carolina coast, from Ocean Isle to Myrtle Beach. We have several move-in ready homes and houses in the process of being built, so we can walk you through your options and help you find the property that best suits you and your family. Contact us today for more information about our homes.