Making a home purchase can be an extremely stressful and exciting experience. Not only are you looking for a home that you can spend a substantial amount of time in, you are also looking for one that offers financial security when the time comes for you to sell it and move on. There are many things that you should consider before you make your home purchase.
Not only should you consider the price of the home that you are buying, but the neighborhood as well. Even though the price and the home itself may be perfect, there may be aspects of the neighborhood that may be less desirable for a home purchase. When it comes time for you to make your home purchase, be sure to review these top 10 tips that will help you make sure that you are selecting the right home for your present situation as well as the future.
Review information about the Neighborhood
If you are already familiar with the neighborhood, you may not need to complete this step, but it is important to know what type of local atmosphere that you are buying into. Be sure to check out all the neighborhood sites that you can find and read about how the city plans to develop your neighborhood in the future. This can be an important item when considering a home purchase.
What’s the Crime Rating?
This is an extremely important aspect of the home buying process. Purchasing a home in a neighborhood that has a high crime rate will make your home not only unsafe, but more difficult to sell in the future.
Check Out the Schools
Even if you do not have children, you should look into the schools that are in the area. Buying into a good school district can help your home retain its value and make it easier to sell when you are ready to move. For most parents, this is an important feature and one of the first things that they will consider when buying into a new neighborhood.
What about the Amenities?
You should also consider the specific things that you enjoy doing in your spare time. If you have a hobby of eating out once a week, but there are no restaurants in your neighborhood, you should consider the fact that you will now need to travel further for your weekly outing.
See the home during different points of the day
A home will look differently at night than it does first thing in the morning. Be sure that you at least drive by the home during different times during the day so that you can see how it looks as well as how the traffic is on the streets. If the roads are congested near your home during different portions of the day, you may want to reconsider the purchase.
How long does it take to get to work?
Keep in mind that even though you may love the home, you may not enjoy that hour and a half commute to work for the next five to ten years. Be sure to consider how long it will take you to get to work each day so that you can see if this is time that you are willing to spend in the car.
Don’t skip the home inspection
One of the most important portions of buying a home is having a home inspection completed. This will be done at your own expense, but it is important so that you know if there are any issues with the home that you should be aware of. It is also a good idea to put this into your agreement as a contingency of purchasing the home.
Talk to the people selling the home
Not everything will be provided to the realtor and there is a good chance that your realtor will not know everything about the neighborhood or the home that you are considering. The sellers of the home will more than likely be willing to discuss any questions that you may have and will probably be happy to tell you more about the neighborhood.
Consider additional Costs
Some homes have additional costs, like HOA fees, that you should consider. You should also inquire as to how much the typical utility bills are as well as the taxes and insurance that is typically paid on an annual basis. Checking on whether you will be required to carry flood insurance is also an important thing to consider when purchasing a home as well.
Buying a home is a big decision and there is a lot of thought that must be put into the home that you are considering. It is important that you consider the above items carefully before you make a purchase so that you are certain that you are making the right decision for your future.