Understanding the basic laws that govern real estate transactions is helpful to everyone. Did you know that there are three factors that govern real estate purchases? They are location, condition, and price. Problem is, you can only choose two.
Do you want a house in a great location for cheap? You can have it, but it’s not going to be in good condition.
Maybe you prefer a house in great condition, but still want it to be cheap. It works, but you may not like the location.
So you want a house in mint condition in a great location? I can find that for you, but it’s going to cost you.
None of those sound appealing? Maybe building or remodeling will be better. Before you choose, consider the three factors that govern construction and renovation projects. They are time, value, and quality. Which two do you choose?
Everyone wants their project to be fast and cheap. That is fine, but it’s not going to be good.
Ok, so you want it to be good and you need it to be cheap. That works too, but it is not going to be fast.
Of course, there is always someone that needs it to be good and it has to be done fast. No problem, but it’s not going to be cheap.
Sometimes the choices are hard. The right real estate professional can navigate them all.