Buying the wrong property is not like buying the wrong dress – unfortunately, you cannot exchange it.
It is important that you consider the house as well as its neighborhood before purchase. A great deal means nothing in the wrong neighborhood.
This can easily be overcome by doing adequate research:
— Is there potential for growth in this house?
— Is it close to amenities in the area?
— Are there dramatic infrastructure plans in the pipeline for the area?
It is also important to consider the property’s effect on you, as a homeowner, after tax.