Recession proof house
January 15, 2008
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With the sluggish economy and eroding housing values potential home buyers are hesitant to enter the real estate market these days due to fear of loosing their investment. Here are some tips for those buyers who want to take advantage of the bear market and still to protect their life time investment.
1. Buy location. Prime areas with low crime, good schools and amenities tend to keep their value. This is what everyone wants and you can not build or reproduce of these properties in prime locations.
2. Do not buy the most expensive house on the block. Get a smaller house in the best area that you can afford. You can always improve the house but it is hard to improve the neighborhood.
2. Amenties matter. Transportation, proximity to parks, libraries, wilderness sanctuaries but also to good shopping, restaurants, freeways all count. You want to live private life but still to be close to the amenities you enjoy in your daily life.
4. At the time when cash is king again do not spend your money on unnecessary improvements.
To be continued soon....