When Buying a Home Comps are Key

You have to remove all emotions when investing in real estate. It is important to look at the comparables for what insights they have to offer you on a property. One of the biggest tool you can use is a price per square foot ratio. Other than wondering if the paint colors will work with your furniture- or if you like the color carpet, consider what the cost per square foot is in relation to comparable properties. For instance two similar homes in the Stoneridge development in Prescott Valley have many similar models for sale. With minimal difference in the houses, they can differ in price by $30/sqft or more. Two houses of 2000 sqft will have a difference in price of $60,000, which will buy a lot of paint and other fix-ups.