Buying your first home can be as exciting as it is demanding. Home ownership is a huge part of the long-term goals of many individuals especially as it provides much needed space for growing families. However, it is important to give this plan some thought as there is no time given to “think about it” after the purchase and there is no refund policy for you too. Hence, you must ask yourself the right questions, so you do not end up making costly mistakes. Here are nine practical and important questions you must ask yourself before you buy a home.
Why am I buying a Home?
This is arguably the most crucial question you must ask yourself as it is vital before you begin considering your options. Do you wish to buy and rent it? Are you going to live in it? Finding answers to these questions will help you determine the size of house that you would purchase and the loan structure that best suits the purchase.
What are your Long-term Career Plans?
Although you may have factored in the financial implications of a home purchase and consider yourself ready to buy a home, your career path may be an obstacle. If there is a chance you could be transferred from your current office location in the next few years, it may be ideal to reconsider your options.
What Kind of Neighborhood do you desire?
While your current situation – nature of job and age could play a big factor in deciding your choice of neighborhood, you might want to consider other factors such as the ease of access to public parks, the quality of local schools, and any other relevant environmental factors if you are thinking about starting a family in few years.
What is the nature of the house?
It would be near impossible to get the perfect house upgrade. The beauty of the wood floors or the amazing nature of the bay window may seem attractive, but you must really take a hard look at how outdated the apartment is and how much time you would invest if you engage in DIY projects yourself. This will help you avoid purchasing a home you could regret in future.
How much Utility can you reasonably afford?
Although your usage will largely depend on your family size, identifying the utilities you need to pay, and all the costs associated with moving into a potentially larger home will help you in making a wise decision.
Are there any environmental issues in the neighborhood?
Look out for any polluted sites in the area that may contain hazardous materials or any other contamination that could lead to emission of unhealthy fumes. You can make use of the Environment Protection Agency website to identify such areas.
What is the Security Situation?
You may be satisfied with the nature of the house and the local schools; however, you must consider the security of the area. In many cases, realtors may not inform you about every detail concerning the crime rate and overall security situation of the area. It is recommended that you contact the local police, ask for relevant security statistics and decide.
What would your Work Commute look like?
Have you found the perfect house already? Your work commute in the morning and evening should play a big part in your decision and if you find out you cannot bear the commute; the house is not one for you.
What is the Condition of the Drainage?
It is understandable for you to fantasize about the patios and visually pleasing lawns. However, the gutters are usually expensive to take care of when there is a problem. When it rains, does water pour over the gutters? Are there functional gutter guards in place? What is the proximity of the water emptying system to your house? These factors are crucial as you take that big step.
Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com. To contact one of our real estate agents call 734-426-6060 today.