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Should I buy the largest house in the neighborhood? PDF Print E-mail

When you’re faced with a choice of buying the biggest house in the township or one that is just suitable for your family’s needs – which is the one you select? Everyone wishes to get the biggest one, just to show others that they are different. However, one common problem you will meet when you are trying to sell it later is that the biggest house is the most difficult to sell – for the simple reason that it is very hard to determine the true value of the property. The tricky part is that there are no comparable sales in the neighborhood because there are no similar properties. Estate agents may take a longer time to market your property because there is a lack of relevant data to support the purchase. The banks may also take longer period to grant you the loan. Therefore, I strongly support that you buy a house that suits your need and not the biggest home you can afford, to avoid unnecessary headache.