Home buying is one of the most significant commitments that you make in your lifetime. It is the largest purchase most pe ople will make, yet it involves numerous factors that are outside the buyer’s scope of knowledge. For house hunters, knowing what to look for when buying a home is extremely important. There are a number of things that can affect your quality of life while living in that home, as well as the property value. When seriously considering what to look for when buying a home, consider the following variables.
The Right Location
The right location can affect everything from the ease of reselling your home to the amount of noise that you endure on a daily basis. If you have children, then the school district in which you live will be another important factor. Consider your commute to work and how much time it will take to get to and from the office. Alternatively, is your home close to public transportation? Research particular neighborhoods you're considering and if they are safe. Neighborhoods have different characteristics so you will want to choose the one that best fits your lifestyle.
Good Resale Value
When considering purchasing a home, also consider the resale value for the long term. If the home is in a popular area now, that popularity may wear off. If the home is in a gentrifying area, the property will gain value. Other factors that can affect resale value include the number of bedrooms and bathrooms. You should have more than two bedrooms and more than one bathroom.
Reasonable Property Taxes
One of the big pitfalls that first-time homebuyers can fall into is that of property taxes. It is important that you carefully research property taxes in any neighborhood that you are considering. If you fail to do this, you may have to deal with issues like unexpected reassessments and rate hikes.
A Sound Structure
While decorations and paint can greatly influence your perception of a room, you should look beyond the color and focus on structural issues. You will want to look carefully for cracks in the walls, potential water damage, or unleveled flooring. All of these should be indicators that the structure and foundation of the home is weak or has warped. Having a home inspection prior to fully purchasing the house can save you from costly mandatory repairs.
A Dry Basement
It will be necessary to examine the basement for any signs of moisture problems. One way to do this is to try to detect the damp or musty smells that indicate the presence of mold. Check to see if there are any signs of leaking around the foundation and look at the beams to see if any of them are rotten. If there is a crawl space, look for signs of moisture as well as for foundation cracks.
If you need to figure out what to look for when buying a home, then make sure to speak to a real estate professional. Contact us at Mary Roy and Team and let us help you find the home of your dreams!