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It’s easy to purchase a home. In fact, the Lake Wallenpaupack, PA, real estate market is booming, and there are a lot of motivated sellers. But the tricky part of purchasing property is finding prime real estate that’s worth every penny of the final sales price. In order to buy a home that is sure to retain its value for many years to come, it’s important to pay attention to three things: location, features, and market value. Location, Location, Location In real estate, location is always mentioned first. Prime real estate is generally easy to spot because of the location it’s in. For a home in Lake Wallenpaupack and surrounding areas, lakefront property is more valuable than any other home. But being next to the lake isn’t the only characteristic of a great property. Location also has to do with the type of neighborhood your property is in. A million-dollar mansion is not going to sell for the same amount as it cost to build it if it’s surrounded by manufactured homes. If you want to buy a house that’s going to appreciate in value over time, then it’s better to buy the ugliest house in the nicest neighborhood than the nicest house in an awful neighborhood. Features A home that you will appreciate for many years has to have the features you want. For starters, you’ll want to buy a home that has sufficient room for your family. Buying a house with more rooms than you think you’ll need is a good idea for several reasons. Particularly, you won’t ever have to upgrade, and it will be appealing to buyers when it’s time for you to move on. When you’re looking at houses, you need to pay attention to the layout as well as to the number of bedrooms and bathrooms. Square footage is an important indicator about the size of the house, but it doesn’t give you the whole picture. Finally, you should take a look at the features and appliances. Newer homes tend to be more energy efficient than older ones, which can save you a lot of money in monthly utility costs. And while you can always upgrade, it’s important to put marble countertops and hardwood flooring into your cost calculations to avoid overextending yourself. Market Value A home is a major investment. This is true whether you plan to live there for the rest of your life or only for a few years. In order to make the most of this asset, it’s a good idea to purchase your home at or below market value. You can determine current market value by comparing the price with other houses in the area. Your realtor can probably tell you how much you’re paying per square footage, but some things cannot be so easily calculated. A home looking out on the river may be worth a lot more than the same home located a few blocks away. Plus, riverfront property is always more desirable because there is a limited number of homes that can be built directly on the shore. Follow Your Heart Even though buying a home is a big financial decision, it’s also important to follow your heart. If you don’t see yourself living in a certain house, then it’s not a good idea to buy it, no matter how valuable it is. You may end up scouring the Lake Wallenpaupack, PA, real estate market for several months until you find exactly what you’re looking for, but it can be well worth it for you. And as long as you pay attention to location, features, and market value, there is a good chance your home will make the trouble worth it.
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