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"Tips On What To Look For When Buying A Home" by Barbara Corcoran...From Shark Tank

May 25th, 2019

The tips that Barbara gives are relatable to everyone when making their first purchase on a home. :-)

Two of the key tips that she discusses: (1) You should start small and then work your way up to that home that you have always dreamed of. (2) There are high markets and low markets in real estate, you should prepare for the war. Preparing for the war is never buying the highest house. "Buy a house in the price point in that town that the greater majority of the houses are in (not the lowest, not the highest)." 

For Example:

(1) My husband and I started off with owning our own condo with a 2 bedroom and 1 bath. I was finishing up my last year of college at the time and my husband started his career job right out of college. We lived and practiced with that expense for 2-3 years and sold that. Then, we purchased our first home with 3 bedrooms, 2.5 baths, a basement, 1 car garage and had our first child; lived in that house for 10 years. We made some big changes to our finances for the better while living in that house and eventually sold it. Lastly, we purchased a home with 5 bedrooms, 4.5 baths, a loft, media room, and 3 car garage, had a 2nd child, and currently living in after 6 years. 

(2) When we were looking for our 3rd home, there were other homes in other neighborhoods that had similar amenities and what we wanted. But they were in different towns, either higher or lower in price point, and some of them were from the same exact builder. We went with the price point in a town of our choosing that the majority of the houses were in. We got the house that we wanted with great incentives that were already upgraded, great schools, great neighborhood, the shorter distance to and from the airport, and great distances of going to the City of Houston, Kingwood, and Humble/Atascocita areas. 

Hope you liked my blog, please feel free to share your personal experience to help others!!! :-)

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Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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