No matter where you are buying Sea Island real estate, there are certain things you need to consider. If you plan to live in the house or apartment, then you should consider whether that house or apartment will fulfill your needs and those of your family.
On the other hand, if you are buying that piece of real estate as an investment, then you’ll need to consider what it’s going to be worth in the future, in case you need to sell it. You’ll also need to consider what kind of rent it will fetch you, if you plan to rent it out.
So here are 7 questions you need to ask yourself when buying Sea Island Real Estate:
- What Kind of Neighborhood Is It In? You want to make sure that the house/apartment is in a good neighborhood. This will ensure your safety if you plan to live there. It will also ensure that the price of the property keeps going up.
- How Big Is It? How much space do you need in the house? This depends on how many family members you have and whether you need a home office/studio.
- Is It Well-Kept? If the house/apartment has been well-maintained, that means you won’t have to spend that much time and money fixing it up.
- Is It Within Your Budget? Try to be realistic about your budget. If you are going to be taking out a mortgage, this should not stretch your monthly expenses to the max.
- Have Prices in the Neighborhood Been Going Up or Down? Look at the prices in the neighborhood in the past five years. This will give you an idea of how much you can hope to get in the future when you sell the place.
- Will It Be Useful? If you’re buying the place as a vacation home, ask yourself if you will, in fact, take the time to go there on the weekends or over the summer.
- What Kind of Rent Will You Get? If you’re planning to rent the place out, then consider how much similar properties are going for in the neighborhood to figure out how much you can hope to get.
Contact DeLoach Sotheby’s International Realty for more great tips when buying real estate in the Sea Island area.