Investor who became a millionaire at 26: Don't make this huge homebuying mistake I made (via CNBCMakeIt)
I'm not saying, "Find the cheapest house and buy it now!" You'll only get high returns if you're buying on the best block in the best neighborhood. Don't waste your time looking at a block full of dilapidated houses in a bad neighborhood.
As a homeowner, you can do whatever you want with your house: Remodel the interiors, change the exterior facade, paint it a different color, update the landscaping and so on. But the one thing youDo your research. Talk to locals if you can. Get in the car and drive around until know the area inside out.
. The best locations are usually the most unaffordable. Buying the cheapest house allows you to join the club.Your house will be worth a lot more once the expensive houses on your block get sold. Obviously, owners of the most expensive houses don't get to enjoy this perk.As I mentioned earlier, most buyers stick to purchasing houses priced in the middle range — not the most expensive, and not the least expensive.
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