Tuesday, October 28, 2014

8 Things to Consider When Buying a Home



Buying a home is the biggest purchase of your life.  You want to make the best informed decision you can and that’s where I can help!  I have compiled a list of 8 important things to consider when you are out looking at homes to buy.  This list is a little different because these things are usually over looked when buyers find a home that they like, but can have a huge impact down the line.
1.      Think long term – You want to find a home that fits your current needs, but your future (5-10 years) needs are just as important.  Keep these in mind.

2.     Think resale – According to HomeInsight.com, the typical homeowner moves every 5-7 years.  Make sure when you are looking for your home that you are thinking about resale.  Things like updates, home layout, surrounding areas, and neighborhood are important factors in resale.  

3.     Look at all the expenses – Make sure you take into consideration all of the expenses that you would have if you lived in the home.  Things like a neighborhood HOA or a pool in the back yard can change the look of the expenses.  You don’t want any surprises, so the best bet is to make a list of all of the possible expenses for the home.

4.     Look Beyond Staging – Sometimes homes are staged so well you just fall in love with it.  That’s not a bad thing, but it’s important to realize “that stuff” won’t be there when you move in.  Look at the bones of the house and see your décor, furniture and family in it.  

5.     Ask for the HOA Info – If the neighborhood does have an HOA, you want to ask for the HOA Rules and Regulations before you put in an offer.  You want to make sure that your lifestyle and the HOA Rules will be a good fit.  For example, if you have kids and have 5 cars but the HOA doesn’t allow for cars to be parked in the driveways overnight, then that neighborhood might not be a good fit for your family at this time.

6.     Check into the neighborhood and demographics – Location, Location, Location.  If you’re not familiar with the area, do some research.  Search neighborhood information, area crime reports, schools, the local amenities.   Drive the neighborhood at different times of the day.  This can show you how busy the neighborhood is, and the interaction of the people that live there.   All of these are very important things to help with the decision making process.

7.     Test commute – You are going to be doing this commute every day.  Test the commute and make sure that it will work for you.  For example, the house is 10 miles further away from work, but the traffic in that area is so bad, it takes an extra 20 minutes.  Make sure you are informed.

8.     Get a Professional to help – Realtors have the education and experience.  The market is always changing, and Realtors will be able to navigate you through it all.  From the start, helping with neighborhood knowledge, market conditions, pricing the offer, negotiations, and lots of paperwork. 
Make a list of items to check out, ask your Realtor for help and be as informed as you possibly can before buying a home. 

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