HOW THE HOME BUYING PROCESS CHANGES - PRIMARY, RENTAL OR INVESTMENT
With such a diverse group of clients and client lifestyles, luxury real estate agent Jon Granston knows that “one-size-fits-all” approach to buying a home in Del Mar, Solana Beach and beyond is not the best formula for success. When delivering advice to home buyers, he believes finding an agent who takes the time to carefully listen to your individual goals—and openly communicate with you throughout the process— is essential for minimizing stress.
3 Tips for Finding Your Dream Home, Rental or Investment Property
Base your strategy on your goals
Ask the right questions
Understand the shelf-life of the house
Let Your Goals Define Your Strategy
For Jon, most conversations about searching for a home begin with one important question: what is you maximum final price?
Your maximum price—taking into account any necessary remodeling costs—will begin to direct Jon toward which houses might be a good fit for you.
Other factors that begin to guide your home search can include:
Ask the Right Questions
Jon typically begins with a series of basic, yet important questions to narrow down the search and speed up the search process:
Where do you want to live?
What features and amenities are most important to you?
What styles/aesthetics do you prefer?
Are there any styles/aesthetics you dislike?
How are you planning on using the home?
How long do you plan on owning the home?
What other assets do you own?
How does this purchase fit into your long-term financial goals?
“I always ask my clients to think about what is important to them in a home—and what features would positively impact their lifestyle.” –JG
As you begin to answer these questions, you quickly discover how the answers become interrelated. For example, location can be easily driven by pricing, school preferences, and lifestyle needs. With your particular matrix of priorities and desires in mind, you and your real estate team won't waste any time looking at houses that would never work for you.
Timing is Everything to Succeed in Home Buying
Timing can be the most important factor for limiting the risk of your investment. For instance, if you are looking for a house to live in during a transitional period—for example, 2 or 3 years—Jon leads the search for your new home toward areas with higher appreciation, higher rental rates, and easier exit strategies.
These same guidelines apply to investment properties: increasing resale value rises to the top of the priority list.
Jon can help you create a rental history on the property, narrow the search to houses that are likely to hit estimated profit goals, or find a property that is currently listed under market value.
"Understanding the shelf-life of the home is vital to making a smart purchase.” – JG
Meanwhile, Arendsen can make remodeling suggestions that will broaden the house’s appeal to future buyers.
Remember: Long-term primary home purchases are less impacted by the ups and downs of the financial and real estate markets. If you plan on settling in, the natural ups and downs will not affect your day-to-day life or your feelings of security—you are already where you want to be.
How Design Can Enhance Your Strategy
To find a great deal on a house requires an all-encompassing real estate strategy. The home search, purchasing, and remodeling strategies need to be customized to fit your end goals—and Jon and Kari’s team approach can increase your resources to design and execute these strategies, ultimately resulting in an improved lifestyle and greater value, regardless of whether you are purchasing a home for your primary residence, a rental, or an investment property.