With the New Year upon us, many of my clients are asking how changes in 2018 may impact their decision of buying a home. Whether they’re looking for a condo in Sarasota or a family home in Cape Coral, buyers want to ensure that a new year won’t bring drastic changes when they’re in the middle of making such a large purchase.
Of course, every New Year has its own challenges and rewards, from real estate to anything in life. But when you take into consideration what the year may bring, it helps bring perspective, as well as sound planning to your decisions. Although you can’t predict for sure what the future will bring, taking time to think about the possibilities can help you maximize your financial choices. On that note, today, let’s look at 3 considerations for anyone buying a home in 2018.
Carefully review your tax situation with a professional
If you’ve been watching the news, you know that taxes are in for big changes in 2018. And in the real estate industry, people are already talking about what that may bring. Even though you may have reviewed your tax situation previously, now is an excellent time to do a double check. These new changes may have a significant change on your unique situation, whether that means an increased budget or a change in where you’ve been thinking about buying a home. I also recommend speaking with a tax professional, so that you can get the best insight on your finances.
Go over the regions you might have been interested in
With that in mind, the new tax changes are sure to shake up moving patterns throughout the country, if at least a little bit. For properties like Southwest Florida real estate, this could mean an even greater influx of new residents coming from places like New York and San Francisco. Even if you had a good idea of what areas you might have bought a home in, the tax changes could shift trends in a way that affects your final decision.
Keep an eye on trendy areas for real estate
And to complement our previous point… I’m also recommending that my clients look for those areas that are diamonds in the rough, where values could seriously jump. Areas like Northern Cape Coral, Charlotte Harbor, Bradenton, and several others are on my list to keep an eye on. Still, cities in our immediate area that were already becoming trendier could possibly see property value increases over the next 12 months that are very healthy. Of course, your personal situation is what matters most in making that final decision on any of these areas.
Do you need a trusted expert to help you find that up-and-coming area for SWFL real estate? I keep a close eye on our market, and I’d be happy to answer any questions you have!
Terry Records
Broker/Owner
Records Results Real Estate
Residential Sales and Property Management Service