Choose a Neighborhood When Buying a House

Part of the Video Series Income, Credit & Home Loans: Buying a House

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The neighborhood quality can determine how much house you can afford. See why in this video on buying a home.

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Choose a Neighborhood When Buying a House
Hello! My name is Brett Staggs and on behalf of Expert Village, I am going to be telling you how much you can afford for a first time home buyer. When purchasing your first home and you are trying to figure out how much you can afford and specifically what is the right house for me, one very important thing to look at is neighborhood. The neighborhood of hopefully your new home is going to project, hey in a couple of years, will this house sell for a good value? Will I be able to profit from selling this home? Will it depreciate? A couple of things that can help a home depreciation a neighborhood is having schools nearby, shops and also just the type of neighborhood. Is a lot of people moving out is one thing to look at. If you see a lot of for sale signs around a home that you are looking at, something might be going on in that neighborhood where everyone is moving out and therefore, the value of the home is not going to be as strong as you want it to be. So take a look at the neighborhood, everything involved, other homes on your street and that can help you decide if this is the right home for you or not.

About the Expert

Expert: Brett Staggs has worked in the mortgage industry for 6 years, with a title company, a credit reporting company, & two banks, where he was a loan processor, taking loans from application to closing. Read More