So you’ve found two houses that you absolutely love, and now you’refacing the problem of deciding between two houses in Los Angeles. But, really, that’s a good thing even though it may not seem like it.The good part is that you now have an opportunity to decide which one really is the best for you in all aspects. Here’s how to set your emotions aside and resolve the dilemma.
Make a Pros-and-Cons List
We all know we should do it, but we seldom do when facing a tough decision. But a carefully considered, thorough, dual-column pros-and-cons list is a great tool to help you move beyond the merely subjective and take an objective look at the dilemma.
Your dual-side list of pros and cons will allow you see at a glance exactly what is good about each house and what isn’t. The list should include:
- Size and layout of the houses
- Maintenance costs
- Expenses like property taxes and HOA fees
- Quality of school districts
- Quality of neighborhoods
- Area crime statistics
- Commuting considerations
- Local amenities
A prime consideration in deciding between two houses in Los Angeles is how long each house has been on the market because that can have a marked impact on the price. And part of your decision will involve getting the most house for your dollar.
With a house that has just been listed, the seller is likely to hold out for the full asking price – or maybe even more. If on the other hand, a house has been sitting on the market for some time, the seller just might be willing to accept an offer that is lower than the asking price.
Another aspect of marketability is the reason the house is for sale. If, for example, a seller has to relocate for a job transfer and needs to sell quickly, then you’re likely to get a better deal on the house.
Examine True Value
Also, keep in mind when deciding between two houses in Los Angeles that the sale price isn’t the whole value story. If both houses meet your needs in pretty much the same way and are similarly priced, then you need to look at which one ultimately provides the better economic value.
This requires a look at the longer-term possibilities. For instance, what is the outlook for property taxes? Are they likely to increase for one house, but not for the other? And what about long-term house value. Is one house likely to appreciate over the years much more than the other one? Long-term value can be far more important than initial cost.
Lean on Your Agent
Taking an objective view and making a purely rational decision is mighty hard to do when emotions and desires are involved. And we always like a house based in part on emotional appeal. It pays, then, to rely on a good real estate agent to help you with your decision.
An agent can be immensely helpful with matters like how long a house has been on the market and what the seller’s situation really is. She can also advise you on the appreciation prospects over the long haul and the economic direction of the neighborhood and surrounding area.
All houses have both pros and cons, and you need to look closely at both in deciding between two houses in Los Angeles. And do make sure you look beyond mere emotional appeal and sale price. A key piece of this decision-making puzzle is the knowledge and expertise of a real estate professional. That’s where we can provide some guidance.