Is location the most important factor?

If you’re buying a home, the first thing you should do is choose a location. It’s the most important factor when buying real estate. Location matters, even the location inside the neighborhood will have a large impact on your home’s value. Another factor to consider when choosing a location is buying near water.

Is location more important than house?

When it comes to resale value, the location is one of the most important (if not the most important) factors in determining a home’s long-term appreciation potential. So if you’re hoping to sell your home in a few years, then location should be a strong consideration.

What is the number one rule in real estate?

The 1% rule states that the monthly rent collected on an investment property should be equal to or greater than one percent of the purchase price.

Which is more important when building or buying a new home?

Even though the upfront costs of building can be higher, it may be easier to recoup your investment. “You can have more significant profits with the resale of your new home. Money and features aside, building a house can lead to a level of satisfaction that you can’t achieve through buying an existing home.

Can you move out if you have a problem with your neighbor?

Unlike in a rental, moving out at the end of the lease is not an option so you have to learn to deal with the problem neighbor. If left unresolved, neighbor issues can make everyone’s life stressful but many new condo owners may hesitate to effectively deal with difficult neighbors.

What are the common problems of condo owners?

To help you, here are 8 condo common neighbor problems and their solutions. The Noise is Driving You Nuts! Possibly the number one complaint of condo owners is having a noisy neighbor that drives you up the wall. It can be the loud stereo player, babies crying, or loud footsteps—noises that can trigger your reflexes to just shout back and get mad.

How to deal with your neighbor in a condo?

Be pleasant and keep your cool and learn to know your introvert condo neighbor. The hallway in a condominiums is not an extension of any unit. It is important, therefore, to be mindful of your belongings not overflowing into common spaces. What about cigarette smoke?

How can you tell if your neighborhood is in decline?

Nearby homes, stores and facilities play a huge role in determining your property value. A healthy neighborhood guarantees a steady rise, while an unhealthy neighborhood will enter a vicious cycle. With help from seasoned real estate experts and a top-ranked appraiser, we’ve compiled the best ways to tell whether your neighborhood is in decline.

What did I learn about downsizing and condo living?

You can’t always do things your own way. But, like anything in life, you learn to put up with the bad as long as the good takes up a bigger space. Despite everything I had to give up by downsizing, I have come to love condo living and all the positive things it has to offer.

Are there any rules for living in a condo?

As with any neighborhood, condo buildings will always have their share of crotchety old relics, who consider themselves guardians of the almighty book of rules – and condominium communities sure love rules! During my time here, I have encountered our resident enforcers on several occasions.

Is it better to live in a condo or detached home?

Living in a detached home can sometimes feel isolating, as we grow older. We may no longer go out to work and our social calendar may not be as busy as it once was. In a condo, you’re never lonely and there’s always a choice of functions to attend right in the building.