Anyone who does not rent their living space owns it, and the modern American housing market is a robust one. It has largely recovered from the 2008 crash, and now, many more young adults than ever are looking for houses to buy. This means turning to real estate agents for help, and a real estate company in the area may offer suggestions on a good property for the client’s price range. Some people buy houses as a means of investing in property, too. These real estate agents may also help a client look for waterfront homes on the Florida coast, which are often attractive to older (often retired) buyers who have a large budget for this. But even younger adult clients can turn to real estate agents to find a house, and they may enlist the aid of a real estate lawyer, too. The same is true for finding a condo. What should a resident of Florida keep in mind when they are looking for waterfront condos or suburban houses to buy?
Buying a House
When a client hires real estate agents, they may get some assistance from CMA reports, or “comparative market analysis.” After all, a home buyer does not want to pay more than what is fair for a property, and sellers do not want to set a price that is too high or too low. Thus, but home buyers and sellers ask real estate agents to provide CMA reports to generate fair prices. This is done by scoping out the prices of local houses of a similar size and type, and this may include houses on the market, those that sold recently, or both. Doing this will generate a median or “meta” price for houses of that type in the area, and that prevent s a seller from setting a faulty price. A too-high price won’t attract buyers, and a too-low price is a huge loss upon sealing the deal. Meanwhile, a home buyer can make use of CMA reports to avoid houses whose prices are too high according to a CMA report’s meta analysis.
Whether a buyer is looking for expensive waterfront properties or something more “typical,” they may want to consider the location, too. The running joke of “location, location, location” is only a mild exaggeration, since the presence or absence of local features greatly impacts property prices in surrounding neighborhoods. Even a nearby highway and its on-ramps can make an area more appealing. Other features may include schools, offices, shopping districts, entertainment, parks, and more. Families may like some neighborhoods more than other just on merit of what is nearby and what is not. Neighborhoods in busy parts of a city are close to many of these attractions, and will have higher prices to match.
Meanwhile, a home buyer may refer to not only CMA reports that real estate agents provide, but also look online to review some houses in an area. This helps a buyer narrow down the list of which properties suit their needs and which do not, based on square footage, the number and types of rooms, the house’s age, and even factors such as the type of roof. Undesirable houses can be struck off the list this way, and the home buyer may then visit other properties in person along with real estate agents.
A personal visit is essential so that the buyer can get a full sense of what a house is like, or “get a feel for it.” Not only that, but the buyer may review all of the hardware in the house, and check for any defects or problems that would not be shown on the website. This may range from creaking floorboards or drafty doors and windows to faulty lighting fixtures, water damage on drywall, termite damage, or anything else. This is especially important when reviewing older houses. But if the previous owners performed some remodeling before they moved out, some areas of the house (both inside and outside) may be up to date, in good condition, and look appealing. The kitchen and master bathroom are common remodeling targets, to update cabinets, plumbing, floor tiles, and more. The old owners also might have had new windows put in, or had the roof’s tiles fixed.