American millionaire shares tips for first time home buyers
22/05/2018 16:55 | Source: Vnexpress
When buying the first home, buyers should spend more time exploring the neighborhood they are considering, even take a visit at night.

Sidney Torres is a self-made American millionaire who has developed $ 250 million in real estate. When Torres was 20 years old, his grandmother co-signed a loan to help Torres renovate his first home. Later, he sold the house and used the profit to buy a house next door.

With his years of experience in the property industry Sidney Torres advises first-time homebuyers to spend plenty of time in the neighborhood they are considering. He said: "The biggest mistake the first-time home buyers always make is they fall in love with the house and they don't really do their homework to understand the community, to understand the neighborhood, to understand the street that they're on.”

Millionaire shares tips for first time home buyers
Sidney Torres (Photo: CNBC)

According to Torres, you should go to the area you want to buy a house all morning, noon and night. When you go there at night, you know the activities that can affect your life later that day you can not see.

According to Torres, first time buyers should go to the neighborhood they are considering in the morning, the middle of the day and even at night. Because the neighborhood could have a completely different feel at night, said the millionaire.

Torres added: "Before I buy anything, whether I'm building a resort or I'm just looking to develop a small shotgun house, for me, it's really important to see the sun rise and the sun set. You want to spend time there in the morning and you want to spend time there in the evening."

In addition, buyers also need to consider other things, for example, how close the property is to good schools, shopping centers and main transportation sites.

Torres stressed: “If you're going to live there for 10, 15, 20 years, it doesn't hurt to spend 48 to 72 hours there before you actually commit to buying it."