Things to look out for when buying a home.?

Question

Things to look out for when buying a home.?

Answer 1

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Answer 2

You will not quickly realize how important location is to value...almost no one does until it is to late.

You can repaint, re-floor, re-roof, re-landscape, re-fence, rewire, re-plumb, re...almost everything much easier than completely change your neighborhood.

A lot of people want a new home and buy in a neighborhood that is poorly located because they are swept away by everything being new.  In a few years it is no longer new and the weakness of the location is what you are left with.

second.  always hire a home inspector that works only for you, even on a new home you want to be sure how well it was built.

third.  Do not bite off more than you can easily afford.  Stay well within your budget so that when a unexpected event takes place you can still afford the home.

Answer 3

Check out the neighborhood> see what the houses around you look like > if they're well taken care.  Make sure the schools are up to snuff > even if you don't have children, when it's time to sell many buyers will want to be in a good school district.

Also, consider how far you'll be from work, family, church, shopping, & anything else you do on a frequent basis> commuting costs will add up.

Will the home meet your future needs?  Or is it just a starter home & you'll be out in 5 years or so?  

Have the real estate agent show you similar homes in your price range to get a good comparison of what's out there.  Most older homes will require maintenance & repair work > try & get a warranty to cover anything major.  And don't forget to add in utilities as a monthly cost.  Basic cable, heat, water, electric > all of that really adds up.

Good luck.

Answer 4

If your neighbors are unhappy with the area, they will tell you.  Ask them./

Answer 5

Be sure to put contingency clauses in your offer - "subject to inspection," "subject to getting financing at such-and-such a rate." You don't have to activate those clauses, but they provide escape hatches, if needed. Be careful of creative financing and don't buy more house than you can afford now.

As others mention, cruise the neighborhood at varying hours to gauge it's personality. And once you move in get active in Neighborhood Watch and other such groups.