Buying a home isn’t something to take lightly. It is a big-ticket purchase – usually the most expensive thing you’ll ever buy – and it bears careful consideration. There are many steps to take to protect yourself from making a costly error and avoiding them is extremely useful.
Let’s look at a few of the things to think about before buying a home.
What Is the Neighborhood Like?
Understanding the neighborhood is an important consideration before moving into the area. Is it an up and coming area or already very popular with locals? Is it safe to walk around or does it have a high crime rate?
If you’re not familiar with the area, it is a good idea to visit during the daytime and also in the evening to see how the area changes. Does it feel safe? Talk to local people and see how they feel about it. Have they been a victim of a home invasion or a crime there? If possible, arrange to stay locally for a couple of days to get a feel for the place before making a buying decision in that area. Don’t buy blind.
Are There Decent Schools Nearby?
For anyone who is thinking about having kids in the future or already has them, then being in a school district with good grades is important. In most cases, you’ll want to avoid having to pay for private school and you certainly don’t want to get stuck paying for private because the local public-school system has low grades. Plan ahead by checking what the better schools are in the area and comparing their academic records to the national average. Also, check if there are school buses from the local schools that pick up locally too.
Will the Home Be Large Enough?
Will the house or apartment be large enough? If you’re single but plan to meet a future partner, will the new place be big enough for two people or when adding a family later? How many bedrooms, bathrooms, and other living areas do you require now and in the future?
Think about outdoor space too. Do you like being outdoors and will really enjoy a back yard and patio space to sit and relax? Is a work area important to tinker on side projects on the weekend, whether that’s something new for the house or fixing up an old automobile? It all bears thinking about to ensure you buy a large enough home.
Covering Unexpected Contingencies Like a Pro
When you’re not sure or don’t want to rely on previous opinions about a property, be sure to set up an inspection contingency in your buying contract. The contingency provides for when inspectors fail to pick up on major problems with the electrical wiring, the roof, or plumbing pipes in the home.
A contingency like this provides the opportunity to check the property more thoroughly after the contracts have been signed. Should anything untoward be discovered, a revised purchase price or the ability to back out of the deal is covered.
Buying a home is a personal decision and a major one. We don’t do it often, so we’re inexperienced in how to do so properly. Let professionals provide a guiding hand to avoid common pitfalls and ensure everything goes off without a hitch.