Whether looking for your own home, or an investment property, consulting an expert is key

Looking for a new home in the Los Angeles, Beverly Hills, Hollywood, and Malibu areas all have different challenges. While you may find a home that fits like a dream and is within your budget, many times this isn’t the case. Many home shoppers look at house after house, know their budget, but don’t know or have anyone to guide them as to what a house could be or which they should choose. We’ve all heard the advice that it’s all about location. Location is a major factor in home shopping, whether for yourself, your family, or as an investment property. The part many people are missing however, is having an expert who has done hundreds remodels, rebuilds, and additions to be able to look at the property they are considering and what their goals are and guide them as to which property will provide them what they are looking for and still be within their budget. This advantage isn’t just valuable, it’s priceless. The amount of guesswork and uncertainty that is removed when you have an expert by your side and on your team changes the process from stressful and intimidating to easy and exciting.

We at Advanced have received so many calls and emails flooding in from home buyers and investors across the nation asking us to look at their property list before they commit to one, wanting to know if the land or house has the potential for what they are looking to accomplish that we have realized this is a major need in the community. As always, we are here to help our clients in achieving their goals and dreams in the residential market, and so we now are happy to offer Pre-Purchase Consultations.

Unlike a home inspection, this consultation service aims at giving home shoppers not just what state the home or property is in now - but what it could be, how (and if) it fits with their goals, and helps clients choose the right property. A home purchase is likely one of the largest expenditures or investments a person will make in their lifetime. We have personally worked with clients who made their first millions by flipping a home with Advanced. We have helped hundreds of clients turn a fixer upper into their dream home. 

So, what do you need to do before we begin? 

1. Map out your goals, wishes, and budget.
2. Goals are what you want to accomplish with your property or home. Is this going to be your personal home, or an investment property? Is the goal to enjoy the home with your family, friends, entertaining, cooking, relaxing… or are you intending on creating a relatively passive income source? Or both? Will this property need potential to expand, and add a guest home?
3. Wishes come after you have your primary goals mapped out. These are usually influenced by your goals. For example, if your goal is to have a home for your family where you can entertain, and for your family that may mean a large kitchen space, or living area, or a pool… make a wish list in order of importance to your lifestyle and goals. Perhaps your goal is to flip a home and make money on it, your wish may be to create a certain style of home to add to your portfolio, or to make a certain amount of income from it. 
4. Map out your budget. Did you know that more and more people are using credit cards as financing for their remodels? Map out what budget you have, any investors or resources of money available. Knowing your finances and the budget you have to work with is paramount to achieving your goals. 

We hope this was helpful to you on your journey to buying your home or investment property. If you are looking at homes in the greater Los Angeles area, contact us and let’s start achieving your goals!