Buying a house can be daunting, especially if you’re not familiar with the process. Before you step foot in an agent’s office and make your offer, there are a few things you should keep in mind so you end up getting the perfect home for your needs. Here are 7 Things To Look For When Buying A House as they’ll help ensure you get the right place at the right price…
Things To Look For When Buying A House
Location, location, location
If you’re thinking about buying a house outside a city, make sure you consider the cost of living there. If you’re going to be living in an area where you have to factor in the cost of living, then you may as well buy somewhere close to the city.
If you’re looking at buying in an urban centre, consider whether or not you’ll be able to find a job in the area. A job in a city means you’ll have far more options for where you can live. You can also look into amenities in the area like the availability of gyms and preschools so you can be sure you’ll be able to find a place that will meet your needs.
When you’re looking at buying in a suburb, make sure you consider the commute to work. Depending on where you’re buying and where you work, longer commutes can be frustrating when you have to drive the same number of hours every day! If possible, try to buy in an area that isn’t a long commute from where you work. You can also look at renting out an extra room in your house or apartment to generate extra income if you’re looking at a suburb.
Is The House Still For Sale?
Many first-time home buyers make the mistake of assuming the home they’re interested in has already been sold. This could not be further from the truth, as many homes are put on the market and not even bothered with a listing sign.
If you see a house that’s “For Sale” but not actually “SOLD,” it’s likely the owners haven’t even decided to list it yet. Make sure the house you’re interested in is still for sale before you go looking for it.
This may seem like common sense, but it’s surprising how many people overlook this critical detail. It’s important to remember the saying, “If you don’t know where you are, you don’t know who you are.” Once you find a house you like, make sure it hasn’t already been sold before you start looking for an offer.
What’s the asking price?
Price is a huge factor when it comes to buying a house. Figuring out what the asking price is can be tough without actually seeing the property. You can ask the seller how much they’re asking but you’ll want to be careful when doing so. Most sellers are aware of how sensitive this question can be and will be careful or even evasive when asked.
You can find a lot of great information online, such as Zillow, to help you get a better idea of what the asking price should be. A lot of the information you’ll find can be applied to other properties so you can get a good sense of what the average asking price is for the area you’re interested in.
How many other offers have been made?
This is one of those details that you probably wouldn’t think of but is actually very important. If the sellers have already received multiple offers, this could mean a few things. It could be that the house is in a great location, has a lot of potential and has been priced appropriately. However, it could also mean the house has serious structural issues, such as a flood plain, or that the neighborhood is in a less desirable part of town.
The more information you have on this front, the better. What you want to do is find out how many other offers have been made on the house. This can give you a good idea as to how much the house is worth, relative to other homes in the area.
Do you like the neighborhood?
Does the neighborhood in which the home is located appeal to you? If you’re not happy in the neighborhood, you’ll likely be unhappy living there. Instead, try to buy in an area you enjoy. This will make life easier for you, and it will also make it easier for your family as they’ll have a place they enjoy living in.
What are the features of the house?
When looking at the house, make sure to look at everything. Don’t just look at the exterior, check out the yard and the inside of the house as well. A house can look great from the outside, but be in terrible condition once you go inside. Make sure the house you’re looking at has the features you’d like to have in your new home, such as a finished basement, enough bedrooms and living space, and a yard.
While it may sound trivial, finishing up the basement can add a lot to a home as it makes a great place to store your belongings and also gives you a place to host parties and family get-togethers. Having enough bedrooms and living space can help you accommodate your growing family as well as give you room to host friends and relatives when they stop over.
Is the property located in an up-and-coming area?
This is something that can’t be measured, but it can be judged. If the house you’re interested in is located in an up-and-coming area, this could be a huge plus for you. This could mean the area is in the midst of a revitalization and is expected to experience growth in the near future. Perhaps the house is located close to a major highway or in a high-traffic area, which could mean the area will see a surge in new residents and businesses.
This, however, could also be a huge negative if the area is on the verge of crime or is considered undesirable. Make sure the house you’re interested in is located in an up-and-coming area before you make an offer.
What are the pros and cons of the property?
This is a very important question to ask! When you meet with the listing agent to look at the property, you’ll want to ask them to detail the pros and cons of the house. It could be helpful to pull out a notebook or voice recorder and record this information so you don’t forget anything. You want to make sure you understand all the pros and cons of the property.
For example, if the house has a backyard that’s in a state of disrepair, you want to make sure you’re aware of this before you make an offer. You don’t want to buy a house with serious structural problems that could ruin your entire life. Make sure the house has significant cons before you make an offer.
Check out a few more houses before making your decision.
This is something that can’t be stressed enough! When you start looking for houses, make sure you look at at least 5-10 houses before making an offer on the first one. You want to make sure you’re not settling or that you’re just looking at the wrong type of property. Make sure you’re not just looking at houses that appeal to your style and price but also ones that are in areas you’re interested in.
Make sure you’re looking at the right location and at the right type of property, such as a single-family home vs. a townhouse. This will help you make sure you’re making the right decision. Once you find a few houses you like, make an offer. Your offer should be contingent on the seller accepting your offer.
Ask for Showings Before You Buy
One thing you can’t do after you find a house you like is wait until the deadline to make an offer. This is when you want to make your offer, not just before you find a house but before you even look at one. The reason for this is because you want to make sure you’re not just looking at the wrong type of property.
Make sure you’re looking at houses that are in up-and-coming areas and also make sure they’re in the right price range. One of the best ways to do this is to make a showing request before you even look at a house. This way, you’ll see only the properties that are in the right areas and in the right price range.
Final thoughts
Buying a home can be expensive, time-consuming and stressful. Be sure to check out these 7 things to look for when buying a house so you get the right place at the right price.
