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Wednesday, November 01, 2017

Why Buying The Lowest Priced Home in the Neighborhood is the RIGHT MOVE - Pine Creek Development in Melbourne, FL Home For Sale

When it comes to buying a home there are a few things smart buyers should avoid including
  1. buying the largest house in the neighborhood. 
  2. buying the most expensive house in the neighborhood. 
  3. buy an over-improved house.
 Why would any of these become a problem?

When it comes to value the largest home's value will be held back by the neighboring homes.  And although it should not be considered a primary investment most home buyers look at their home as an increasing asset over time.

As for the most improved home in the neighborhood the gamble is the other homes will gain improvements and value.

As an owner you will want to personalize and make some changes.  While these improvements as well as maintenance necessities will add value the most important consideration is they are your choice.  

More importantly, most homes will  be sold in the future and it will always be easier to sell a home that is not the biggest and highest priced.

In the end it is the location that can't be changed so I encourage buyers to consider the the mid value and under in a neighborhood when looking at homes. 

So why did I discuss the reasons to look at the lower end priced homes in a neighborhood?  Because here is the best deal in the 55+ gated community of Pine Creek in Melbourne, Florida!
There are two active listings in Pine Creek priced at $198,000 and $263,000.  There is one under contract priced at $230,000.

Recent sales (over the past six months) were reported at $263,000. $262,400 and $234,200.

The home listed at $198,000 is located at 3613 Osceola Drive (property under contract is next door listed at $32K more).

The 3613 Osceola Drive home is a two bedroom two bath two car garage 2003 built home with 1,335 sq.ft. under air.  Don't let the sq.ft. scare you as the open design and high ceilings give the impression of much more space.   Besides, when one is downsizing is all that extra space really necessary?

This home's location within the community is a big positive because it is close to the club house and community pool (across street about 200 ft away!)   

With association fees at $500 a quarter the lawn maintenance and exterior maintenance is included [REVIEW HOA DOCUMENTS TO VERIFY WHAT IS COVERED BY DUES].

If you are looking for a home in a Melbourne, Florida 55+ community consider the reasons noted above and the recent sales... then call me at 321-693-3850.

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