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Should You Buy the Best Home on the Block?
06.06.2024 - 13:17 / bhg.com / Lauren Phillips
Does location still matter most? Should you remodel your home to suit your tastes, or for resale value? Are starter homes still a thing? We all have plenty of questions about the ever-changing world of real estate. In our Ask an Agentseries, we’re partnering with experts at Better Homes & Gardens Real Estate to answer your biggest questions about finding, buying, and selling a home.
You’ve probably heard it parroted over and over again: “Don’t buy the best home on the block!” Conventional real estate advice claims that buying the most expensive or highest valued home on the block is a mistake for a number of reasons. The value of your new home will grow more slowly than that of the surrounding homes if the neighborhood improves; the value of your home won’t match the location, so when it comes time to sell, the people who can afford your house might not like the location and opt for houses in different areas.
But while this advice has been around for decades, in today’s housing market, does it still apply? Is buying the best house on the block still a bad idea, even if it’s the best house available for you?
Jessica Poulos
For this installment of Ask an Agent, we spoke with Jessica Poulos of the Better Homes & Gardens Real Estate Northwest Home Team about whether buying the best home on the block is still something to avoid.
Jessica Poulos is the Designated Broker and co-owner of Better Homes & Gardens Real Estate Northwest Home Team, with three offices in northwest Washington. She has more than 20 years of experience working in real estate in the area, helping clients find their dream homes.
With real estate, it’s all about return on your investment, and I never want to put my name on a contract with a client and give
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