5. The Home You Purchase
There’s one aspect of house hunting that tends to surprise people. Let’s say you’ve narrowed your choices to two homes that stand side by side in a great neighborhood. One needs repairs and updates but has a huge lot. The other is in tip-top shape but sits on a lot half the size of the fixer-upper. The prices of the two homes are similar. Which do you choose? In most cases, the house in need of repairs is the better investment.
The reason: your house is a depreciating asset. On the other hand, the lot will maintain its value (or likely appreciate) relative to the house. Fortsätt läsa ”How Do I Know If I Am Buying in a Good Neighborhood?”