How I Tell If a Home’s Actually a Good Deal

Mar 11

if you're shopping for a home, especially in a market like OKC, it's easy to get caught up in price tags, photos, or “great neighborhood” labels. But those things don’t always tell the full story.

Over time, I’ve learned to look past the surface and focus on the things that actually matter when deciding if a home is truly a smart buy.

Here are the five key things I personally check before calling a home a good deal — and why each one can make a big difference in the long run.

1. Price Per Square Foot — In Context

Price per square foot is a helpful starting point, but it only tells part of the story. I want to know:

How does it compare to similar homes recently sold in the same area?
Are those comps close in size, age, and condition?
Was the home updated or a fixer?

Looking at sold properties within a quarter- to half-mile radius and within the last few months gives me a clearer picture of what the property is really worth.

2. What You Can’t See at First Glance

Great staging and fresh paint can hide a lot. I pay close attention to the structural and mechanical elements that affect a home’s long-term value:

Roof, HVAC, and water heater age and condition
Foundation issues like sloping floors or cracks
Signs of water damage or poor drainage
Old electrical or plumbing that might need updating

If you have to pour thousands into basic repairs right away, that “deal” can turn into a financial headache.

3. The Direction of the Neighborhood

I look beyond the house and focus on what’s happening around it.
A home’s value depends heavily on its surroundings — and where the neighborhood is headed. I look for:

Increasing or stable property values
Signs of renovation or new construction nearby
School district ratings
Time homes are staying on the market

If the area is growing or improving, the home is more likely to appreciate.

4. Monthly Costs Beyond the Mortgage

A home’s price isn’t the only number that matters. I also consider:

Property taxes and insurance
Utility efficiency (especially in older homes)
Possible flood zones or special assessments
HOA dues, if applicable
Expected maintenance costs

Sometimes, a lower-priced home has higher monthly costs than a newer, more efficient one. It’s worth doing the math.

5. Flexibility in the Future

Even if someone plans to stay long-term, I always ask:
What if plans change?

If a home could be easily rented or resold without taking a loss, that’s added value. I consider:

Rental income potential
Market demand
Zoning or city restrictions

A good deal gives you options — whether you stay, rent, or sell.

Final Thought

To me, a good deal means more than just a low price. I look for homes that are structurally solid, priced fairly for the market, and offer long-term value — even if life changes.

If you’re house-hunting and want another set of eyes, feel free to reach out. I’m always happy to give an honest opinion based on what I’d look for myself.

Anthony Coby
Realtor, Chamberlain Realty
Oklahoma City & Surrounding Areas

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