House Buying Guide: What to Keep in Mind
There are three events in a person’s life that are worth celebrating. The first one is when they graduate from college. The second event is when they land their first job, and the third one is when they buy a house. Everybody dreams of owning a house one day, but not many people get to pull it off.
Photo Source
Buying a house is a big milestone that requires a lot of contemplation. Houses do not come cheap; therefore, you need to prepare adequately beforehand for it. There are things that you need to be aware of when you are looking to buy a house. They include the following.
Your Budget
Photo Source
This is the most crucial bit. Like we have already pointed out, houses do not come cheap. You will need considerable funds to buy or build one. In the current American climate, the median price for a house is about $320,000. That price rises exponentially if your dream house comes with extra land space and other amenities.
Before starting your search, you have to understand your financial limits. That way, you can narrow your hunting down to properties that are within your range of affordability. Whatever you do, do not expend all your savings in buying a house. You will still need money for refurbishing and other emerging issues.
Seller Incentive
Sometimes your lucky stars can align to your advantage. You may be looking for a house at just about the same time that someone else is desperate to sell theirs. These are the kind of deals you need to keep tabs on constantly. People who want to get some property off their hands quickly are always open to negotiations.
The ones you should avoid are those that are willing to sell but are never in a hurry until they get the ‘right price.’ You could spend a decade persuading them, and they will not move an inch. Always be on the lookout for good deals.
Location
Photo Source
As you scout for a house, keep an eye out for the presence of necessary amenities. Think about schools, hospitals, malls, places of worship, and so on. How far away from your potential house location are they? Convenience is very important. You don’t want to live in a place where you have to drive 2hrs to reach the nearest shopping center.
With schools, you also need to find out how good they are. You might find yourself stuck in a place with below-average schools, and that could negatively impact your children.
The Size of the House
Large families need a bigger house. A house for a family of 5 will need at least four bedrooms and a sizable living room that can accommodate many people. You also need to account for furniture space. A big house requires a lot of furniture: sofas for the living room, tables and chairs for the dining room, beds, and cabinets for bedrooms and kitchen cabinets.
The Kitchen Layout
Photo Source
The kitchen is one of the most essential parts of a house. It should be spacious enough to accommodate any new kitchen furniture you may carry along. There should also be enough room for movement. Check the plumbing to ensure that there are no leaks.
People that love cooking take kitchen spaces and layouts very seriously. You may like the rest of the house, but the kitchen lets you down. Talk with your realtor about the possibility of remodeling. It may cost you more, but you will be getting exactly what you want.
The Age of the House
A brand new house is always a better choice. It lasts longer, and if down the line you feel like selling it, it will fetch a reasonable price. The fact, however, is that most homes are never new, at some point or the other people have owned them. This doesn’t mean that you should not buy them.
Take your time to assess a house properly to determine the cost of repairs you will need to get it ready for occupation. Take note of the hinges on the doors and cabinets. If they are old and rusty, plan to replace them early enough. To save on cost, consider buying cabinet hinges in bulk rather than piece by piece: they will definitely come in handy later on.
Work with Reputable Realtors
Buying a house should not turn into a stressful affair. If you work with realtors and agents who are not sincere, you are bound to get stressed unnecessarily. Do your homework before inquiring about a house. Some realtors cannot be trusted. They will do shoddy repairs and lie about it, and by the time you realize what has happened, it’s too late.
Be on the lookout for the red flags; they include obvious things like the lack of a proper website and a physical office. They are also never available when you need to see them. Ask around the neighborhood and you are bound to find someone who knows a thing or two about such people.
Research the Area
Some areas are prone to natural disasters like hurricanes and flooding every year. Before checking out houses, first research the risk factors of the whole area, the entire state. Study the history of floods and tornadoes. You don’t want to live in a place where your house will be torn apart by winds every year.
Research on other factors like crime rates, general laws, and mortgage rates. Once you are satisfied with what you uncover, start house hunting.
Conclusion
A house is a lifetime investment. You are not buying it just for yourself, but for your children and their future generations. Bar any calamity or the need to sell it in the future. A house can stay within your family for centuries. Keep that in mind when hunting for a house and get the best one you can find.
