Is It Better To Be the Little Fish In The Big Pond When Buying My Diamond Bar CA Home?
First time buyers in Diamond Bar CA often have more desire than they do money. This is not a bad thing, it is just simply a matter of fact. We’ve all got to start somewhere. Sometimes the biggest challenge is deciding whether to buy the large home that will be generally quite impressive to your friends or to buy the smaller home in the impressive neighborhood.
Many times I have buyers who choose the first option. They purchase the impressive big home because heck–It’s amazing! While there is always more than one factor when it comes to making the final decision on where to buy and which home to buy, it is always important to keep resale in mind. Perhaps we will start seeing people remain in their homes longer but in the past, people have moved homes roughly every five to seven years. This is one of the reasons that thinking about resale could be important.
There’s always something quite nice about an impressive home with numerous bedrooms and bathrooms but there can be equally charming and noteworthy items in regards to being the little fish in the big pond. For example, if we take two homes in the exact same neighborhood and we build just a handful of small homes in the neighborhood, the small homes will benefit from the larger homes. Why? This is based upon the Principle of Progression. The Principle of Progression states that the value of a lesser residence is increased in value by its location in a neighborhood of better homes. The flip side is that a large home in a neighborhood of much smaller homes is adversely affected by the value of the other properties. This is the Principle of Regression. Therefore, buying the only Taj Mahal in the neighborhood is probably not a good choice.
The moral is when you are the little fish hanging around the big fish you generally can’t go wrong. You’ll maintain better values for your home and get the added benefit of a wonderful neighborhood. So when it’s time to ask, “What’s My Diamond Bar CA Home Worth?” you may be pleasantly surprised at the value it holds.
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