Conventional material estate of the realm Wisdom of Solomon says to never purchase the best home on the mental block — but is that still the pillowcase ? We checked in with a genuine acres pro to witness out .
Does positioning still weigh most ? Should you recast your plate to beseem your tastes , or for resale note value ? Are starter homes still a matter ? We all have plenty of questions about the ever - changing Earth of real estate . In ourAsk an Agentseries , we ’re partnering with experts atBetter Homes & Gardens Real Estateto answer your openhanded question about determination , buying , and sell a house .
You ’ve probably hear it parroted over and over again : “ Do n’t buy the best home on the auction block ! ” Conventional real acres advice claims that buying the most expensive or highest prize home on the block is a misunderstanding for a number of reasonableness . The value of your novel habitation will grow more lento than that of the surrounding family if the neck of the woods meliorate ; the time value of your plate wo n’t fit the localisation , so when it come meter to sell , the hoi polloi who can yield your mansion might not like the placement and opt for houses in dissimilar areas .
Credit:Jessica Poulos
But while this advice has been around for decades , in today ’s housing market , does it still enforce ? Is buying the upright sign on the engine block still a bad idea , even if it ’s the secure firm available for you ?
Jessica Poulos
For this episode ofAsk an Agent , we mouth with Jessica Poulos of theBetter Homes & Gardens Real Estate Northwest Home Teamabout whether buying the best abode on the block is still something to avoid .
Jessica Poulosis the Designated Broker and co - owner ofBetter Homes & Gardens Real Estate Northwest Home Team , with three situation in northwesterly Washington . She has more than 20 old age of experience working in real estate in the domain , helping guest find their dream homes .
Ask an Agent: Should You Buy the Best House on the Block?
With real acres , it ’s all about return on your investment , and I never want to put my name on a contract with a client and give them advice to waste all their money , and they will not get it back . It ’s always about , “ What ’s the restoration go to be for them ? ”
However , my advice to buyers is not , “ Is this the good investment , and will this make me the most money ? ” Those are estimable doubt . But the first question is always , “ Does this run across the needs of my family , or my job , or my whatever time of year of life you ’re in ? Does this meet my want ? ”
Because that ’s the purpose of a house , proper ? It ’s to live and raise Kid or downsize or whatever that may be . So I think it is all right . If you need the most expensive house on the closure because it has a shop , or it has a detached role or has a second kitchen or something that ’s making it a more expensive abode , dead , that ’s all right . It is about a homebuyer ’s needs .
Let ’s say they have three kids , and they need a sure school district , and that school territory is a little more money , price per square foot . And it does n’t make signified for them to buy in a neighborhood that perchance does n’t have the same [ schooling district ] for that lesser price .
However , if it ’s a full investment , and they ’re just looking at money — we work with a lot of investors , and if all they ’re looking at is return on investment , it could be bad to buy the best house on the city block .
Or maybe it ’s a military family : “ We ’re only fit to be here two geezerhood , and we just postulate three bedrooms . We do n’t know anything about the schools . This is just a transaction for us . ” Well , then maybe we require to check that that , come two age when you get restationed , that you ’re getting the most amount of money . It ’s all situational .
I guess so many real estate agents — we see at either cover answers or , “ This is how it ’s always done . ” But we really have to assess what ’s proceed on with a client first .
This interview has been edit for length and clearness .
