6 Points To Keep In Mind While Choosing A New Home
When you decide to buy a new home and are going through listing after listings of homes for sale, the emotion that you generally associate with it is ‘excitement.’ However, you rapidly realize that as this is a transaction unlike any other, and it soon turns into a rollercoaster of emotions with excitement taking a back seat. 150%; font-family: ‘Times New Roman’,’serif’; mso-fareast-font-family: ‘Times New Roman’; mso-ansi-language: EN-IN; mso-fareast-language: EN-IN;”>When you decide to buy a new home and are going through listing after listings of homes for sale, the emotion that you generally associate with it is ‘excitement.’ However, you rapidly realize that as this is a transaction unlike any other, and it soon turns into a rollercoaster of emotions with excitement taking a back seat.
Very soon, you experience frustration – trying to find the right home in the right neighbourhood and make sure it ticks all your boxes. This feeling soon gives way to nervousness, stress and. in some cases, disappointment, as a lot of unknowns come into play.
To preserve your state of excitement and ensure that the only other emotions you feel are relief and happiness, we are here to help you. We want to prepare you, guide you and hold your hand through it all.
So, let us start at the very beginning –
5 Points To Keep In Mind While Checking Out Homes For Sale
1. Work with experienced professionals -
In our DIY world, it can be immensely appealing to purchase a home with little assistance from a professional as they cost money. Even so, it is in your best interest to hire the best real estate agent, a home inspector and a lawyer while checking out homes for sale.
There are just too many risks involved in undertaking this acquisition unassisted, and working with experienced professionals can help you avoid expensive experiments and mistakes. Once you decide on looking at the various homes for sale, you should appoint a veteran agent from the best real estate agency in the area.
This professional would help you locate the properties following your requirements, give you the inside scoop on neighbourhoods, schools, housing markets, and, most importantly, guide you in the bidding process to negotiate the best price possible.
The next professional you should hire is a thorough, licensed home inspector. He would be able to identify issues and areas that are not up to the housing code and those that could potentially end up becoming expensive repairs. To avoid conflict, make sure your lawyer is not also representing the seller.
2. Location, Location, Location -
The first bit of advice that you would always receive is to be thorough about the ‘location’ of the homes for sale. However, ‘location’ as the selection criteria itself is extensive. What does it really translate into?
It has many components, the first being the neighbourhood. Always use a keen outsiders’ eye and regard your locale carefully. What do you see when you look at the neighbourhood and neighbours? Immaculate lawn or a noisy ball field?
Make a list of all your observations and think through what they would mean for your comfort as a prospective homeowner and the possible future property value.
Access is the next factor. It is also advisable to visit the area at different times of day and night to see activity levels and enquire about the planned developments in the area. The ease of access, traffic, as well as access to parks, shopping, schools, and public transportation and the other amenities.
Lastly, a home in a good school district always pays whether or not you have kids as it adds to the value of your home.
3. State of the property -
The next thing to keep in mind is the state of the property, with the first factor being its age. Whether you are considering older homes or newly constructed ones, be aware of the positives and negatives that each type brings to the table. Some people love the history and the old-world charm that comes with an older construction, but these require a lot more TLC compared to their younger counterparts.
The next element to consider would be the actual aesthetic of your property, the style of the home, its square footage, the lot size, the decision between condo living, single home or townhome and, most importantly, the right amount of space that you truly need.
Once you make these critical decisions by weighing on their merits and drawing up your list of non-negotiables and desirables, you would have a clearer idea of which homes for sale, you can concentrate your energies on.
4. Layout -
While looking at various homes for sale, the layout also needs to be considered, as not all square footage is created equal.
Closet space, spacious bedroom vs larger living areas, the number of bedrooms, bathrooms; all these are governed by personal preferences. As an example, if you have a lot of equipment or supplies, you will prefer newer homes with more massive closets and lots of storage.
Lighting is again especially important, and we highly recommend looking at a home with natural light and sunshine. If the existing layout is as close as possible to your preferences, you could avoid expensive, and time-consuming remodels.
Although, it might seem a minor issue, too few power points might not handle the number of modern-day appliances. Poorly positioned power points could even limit the arrangement of the furniture.
Finally, keeping a view of the future, look at the houses also with an eye for the potential for further projects to accommodate your ever-evolving needs.
5. Buy a Home That You Can Really Afford -
Finally, always buy a property that you can afford now, not later. It is never advisable to stretch your finances to its furthest reaches; stick to what you can afford to repay currently, and not the maximum you can borrow.
There are always more costs than just the monthly mortgage payment, and hence you should not be caught unaware. Local taxes, monthly utility costs, and association fees would break an already stretched budget.
Once you have made an offer on the house for sale, your real estate agent can ask the sellers for the breakdown of their average monthly and yearly payments. Use this information for your final offer. Always leave a little breathing room in your budget to account for any eventuality and, most importantly, keep those credit scores up.
6. Get the property inspected –
If you’re able to make one in every of the most significant commitments in your life by buying a home, you had better believe it’s imperative that you just get an intensive inspection done thereon property before you progress any longer.
A property inspection can reveal all forms of problems that you just would not see otherwise. This is often true for homes that were built decades ago.
Additionally, a property inspection also can provide you with an accurate idea of what maintenance issues may soon be taking place for you.
Several The Items That Require To Be Checked Out Includes –
The roof -
How way back was it replaced? Is there current damage? How long will it last in its current condition?
Health-related issues -
Is there any asbestos within the home? Lead-based paint? Excessive moisture that might cause mould?
The wiring/electrical -
Is it outdated? Are there any fire dangers/issues that require to be addressed?
Are there any leaks? How old is that the plumbing system? Have there been any updates to any of the fixtures?
Is that the structure itself sound, or are there issues? Is there sagging or drooping? How old is that the home? Is there dry rot or other structural issues to worry about? What about the foundation? Are there signs of termites or other insects?
Is that the heat in good working order? Does it need servicing? How long ago it had been installed?
Perform necessary specialized inspections -
You might have to own additional inspections conducted on the house such as –
- Geological inspection – Important if your house is located on a hillside or near one. The conditions are going to be checked for hazards like landslide risks and drainage problems.
- Chimney inspection – An inspection by an authorized Chimney Sweep technician who can ensure there are not any problems with infestations, CO, or fire risks.
- Roof Inspection – A roof inspection is especially important if the roof is 20 to 25 years old or older and shows any visual signs of harm.
- Pest inspection – You will need or want this if you reside in a vicinity where infestations are common.
- Radon inspection – Radon increases the chance of carcinoma and is found at elevated levels in one in every of every 15 homes within the CANADA you will perform an inspection yourself or hire knowledgeable through your state radon office.
Performing your due diligence will make sure that you are investing in a real home that will not find yourself presenting you with significant surprise expenses.