Knowing what first time home buyers want can make you money
I found this story from http://www.zillow.com/ by ProfessorBaron.com and he talks about all the things that first time home buyers want.
The first part he mentions is the affordability of a home. That is a major first factor that they look at. We currently have a home listed in the Moreland Hills area that is $275,000. If you want to be in Moreland Hills that is an entry level home for that. That is the type of homes we purchase about 75% of the time.
The next factor that he list is the neighborhood type. If the area has all the amenities that someone would want and if there is street noise that can be heard from the property. It also mentions places that you can walk too. That to me is what makes properties worth more is that walking factor. Lets face it if you can walk to a Starbucks or any other quality coffee house from where you live would that be a factor to you if you were looking at two possible properties to live in? I put a lot of time into knowing areas and what they have to offer.
The last two things they talk about are the neighbors and Schools. You want to look at the neighbors and make sure before you buy that they are keeping the property in good condition. I know in a lot of cities in the Cleveland Metro they really monitor the lawns and the condition of each property. In fact if you do not mow the lawn the city will do it for you and send you the bill. That does help keep your neighbors in line on the condition of the property.
They will of course check schools if they have kids or going to have kids. and that becomes an important factor.
Every property we purchase for our investors we check all the above and see what type of property we have and make sure it fits our investors portfolio. Brett Young Coldwell Banker and Rooftopinvestment.com