Location, Location, Location

Location, Location, Location

“Hello, we are looking for a new home and not very picky. We would like a 3,500+ square-foot, 4-bedroom, 3-bath, 3-car garage, with a study, updated, open floor plan, single story, with a pool, on more than an acre, with privacy, in a neighborhood, in Argyle ISD, with trees, and our budget is no more than $425,000.”

A lot of our initial conversations start just like above. If that sounds like you, that is okay. A good agent should be a good listener and be skilled at identifying what is the most important couple of items in your home search.  Most likely your Realtor will be able to find you most of what you would like, however understand you will definitely have to compromise.

When purchasing a pre-owned home we tell our buyers that if we can find you a home that scores a 7 or 8 on a scale of 1 to 10 then we should write a contract immediately. The reason is that it is almost impossible to find a home someone else built that is a perfect 10. An 8 is a home run!!! Even if you build a custom home typically compromises will be made to accommodate budget.

One of the main items we encourage our clients to settle on early is location. Some people will not want to buy a home that backs up to a busy road because they are concerned about noise or resale value. However, in Highland Park, near downtown Dallas, there are million-dollar custom homes that back up to the Dallas North Tollway. These typically sell quickly and are highly desired for their location. Sometimes what one buyer sees as a negative, other buyers will see as a positive and actually be willing to pay a premium for it.

Locations also change over time due to progress or communities growing. A few years after one buyer moved into a quiet country setting, a 90-lot development was opened near them with third acre lots. The buyers were disappointed that their dream location had changed so much. To their surprise though, when they decided to sell, their home had more than doubled in value.

As you settle on your location determine 2-3 things about the location that will be most important or as I like to refer to them as “deal-breakers.” This will allow your agent to find you a location that meets or exceeds your expectations. If you have a list of 10 items that your location must meet, it is unlikely your agent will be able to find you a suitable place for your new home.

Please reach out to The Woods Group if we can ever be of service to you in your real estate transactions. You can reach us easily at 214.733.9239.

by Will Woods

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