When you look at a home, don’t look at it from the perspective of a buyer or a long-time resident. Think of this home as an investment. It is something that you might want to sell down the road. So, don’t get easily attracted by mundane things. Focus on the actual important things that make a home prime real estate.
Location
There is nothing more important in purchasing a home than its location. Where is the house located? If it’s in the middle of nowhere, it will be difficult to sell in the future. And why would you want to live there, anyway, unless you are purchasing the home as a vacation house? When it comes to location, your home can have the ugliest bathroom and kitchen and it still would be the best investment if it’s located near a school or a shopping center.
School District
Parents want their kids to go to the best school. This means that when they decide to buy a property, they will look at the school district first. What are the schools near the house? You might not have children now, but you never know down the road. If this is a long-term investment, you should check out what schools are available for your future kids.
Condition
What is the condition of the house? Get a home inspection report to know what repairs the house needs. You should also have the roof and gutter inspected. Call a gutter cleaning company to remove dried leaves from the gutter. You can easily see problems in the roof and gutter once they are clean. You can renegotiate the terms of the contract if you find problems in the roof, which is sometimes the last thing on some homebuyers’ mind.
Fixer-upper
Are you buying a home that needs fixing? Make sure you are willing to spend on the repair and renovation of the house once you sign the contract. If you are not ready for it, don’t try to force the seller to renovate it for you. The asking price will skyrocket. Look at other properties instead. If you still want to buy the fixer-upper, look at the things you need to repair and find out how much you will spend on them.
Maintenance
Before you put in the offer for the home, check how well-maintained it is. And aside from that, evaluate also how you are going to take care of this real estate property. If it demands a lot of maintenance work and you don’t have the time or money, forego your plan to buy it. Choose a property that will fit into your lifestyle and the demands of your work.
Crime
Just how much crime is happening in that neighborhood? This is not only a concern for you, but for future homebuyers, too. Information is available on the internet about crime statistics. The police publish blotter reports regularly. Crime stats–especially petty crimes–tend to be higher than you expect. Petty crimes happen all over the country. What you should check out is the statistics on heinous crimes and burglary.
Walkability
How walkable is your home to the store, school, pharmacy, fast food restaurant, etc.? You can check out the walkability score of the home in many apps and websites. People want to be able to walk from their homes to the laundromat. They want these places to be accessible from their homes by walking. No longer do people want to be reliant on private vehicles. The need is shifting to public transportation, which means that the walkability of an area is going to be an important factor for future homebuyers.
Amenities and Facilities
What are the amenities right on your fingertips when you buy this home? If it is located in a condominium building, what are the facilities offered to you? Does the building have a gym, sauna, pool, health clubs, and shopping centers? If you are going to live in a building with no access to your own garden, you should at least try to choose a location that’s near a public park.
Taxes, Dues, and Fees
So you fell in love with a property. You want to make an offer. But, did you check the taxes and dues? If there is a homeowners’ association in the area, you have to make payments to that, too. Are you comfortable with it? Talk to your real estate agent about the taxes and dues. You can also go to the city hall to check these. Finances related to homeownership are a bit confusing, so it’s best to talk to an expert before making an offer.
You have to be smart and practical when choosing a real estate investment. Don’t be too emotional when evaluating a property. You have to think on your feet and decide with your best interest at heart.