Posted by: Regent Homes, on November 18, 2013
Your house is likely the largest single purchase you will ever make. When you think of the dozens of decisions involved and the hefty price tag, it gets easy to lose sight of the forest for the trees. Along with the obvious factors, such as location, number of rooms, amenities and the overall property, there are hidden factors that you might be tempted to overlook if you really like a certain house. Pay attention to these before you close. You’ll be glad you did.
Spaces and places
The great mantra of real estate is location, location, location. In one sense location is a no-brainer—after all, it’s usually the first thing you learn about a house. But there’s more to a house than where it’s built; remember to consider factors that might be important to you, like a neighborhood’s walkability, quality of schools, and access to efficient routes to your workplace. Talk to neighbors to get a feel for the current owners and the neighborhood.
The interior space in a house is also likely one of the first things you’ll pay attention to. Imagine you and your family actually using the space; will that grand staircase be an obstacle to your husband’s weak knees? The basement might be finished with a nice play area, but maybe the kids would rather play upstairs with you instead.
Buying and owning a home comes with plenty of up-front costs. There can be some hidden ones, too: swollen water bills which pay to water the palatial lawn, or inflated electric dues because of the heated floors in the garage. While you’re checking on utilities and homeowners’ association fees, have your water checked—you may need to install a water softener. Also, substantial cell phone dead zones still exist. If you’re going without a landline, make sure your cell phone works all around your property.
Think to the next sale
In all the excitement of finding the perfect house, it’s easy to approach the situation with too much optimism. Even if you plan to live somewhere forever, it’s wise to also think about what would happen if you decided to move someday. Resale potential is an important factor—if your house is in an unorthodox location, in a state of disrepair, has an unusual layout, or is one of the more expensive homes in its neighborhood, you might want to investigate further.
Buying and owning a home can be exciting and overwhelming. There is no perfect house, so it’s important to be able to weigh many different factors to find the best one for you. These considerations will serve you well as you hunt for your dream property.
New Home Owner Resources, Resale Value