Home is a place where you want to get back to and it is a place where more than 50% of memories are made of, and this place needs to be special, convenient, and it needs its charm, of which you can hold on to. It is said that people spend close to 45% of their gross income on “Foundation Expenses” such as housing, medical care, child care, and transportation.
Buying / renting a home is not an easy task, it needs careful research to ensure that the home you are buying is the right one and one which fits your checklist. Today, the market is very tight where sellers have the upper hand, but it should be the other way around, usually buyers should always have the upper hand. Because the situation is the other way around, you may even feel compelled to put an offer the moment you come in contact with your prospective home without doing a proper research. Here is a quick guide to conduct your research and make sure that the real estate property that you are buying is something that you actually want.
Check development policies in and around your neighborhood:
This part of research is really important, check the community that you will be going to live in. IT would be good if you look into the local newspaper, of the local government sites / community sites to see what is happening in your neighborhood with regards to upcoming developments or issues that your neighborhood is facing. See if any major development like laying down roads or any other commercial activity will happen in near your home which can be a major hindrance if you are going to stay there.
Check if the property has any issues:
Does your prospective home has a natural alignment, does it smell weird, is there any animal disturbances, check the walls to see if they are hollow, and last but not the least check the home for pest infestation. Moreover, you can as well look into whether the air conditioning / heater works properly, is the fireplace has proper ventilation, whether the water pressure is fine by your standards, the size of the rooms and the inflow of natural light inside the home. Make sure your home ticks all the checklists that you make to ensure you are buying the right home for you and your family.
It is better to have a second opinion:
It is all good that you are doing the all important research on your own, but make sure you have a second opinion on your home by hiring an experienced home inspector. This is going to be a life saver for you at the end of the day. An experienced home inspector can potentially save you from major embarrassment by highlighting issues that could end up in major repairs down the line.
Do not get pressured to buy the home as quickly as possible:
This has happened to many home buyers where they are pressured to buy the home due to a real tight market and enter into the deal without making a proper research. According to National Association of Realtors 2015 report, 68% of first-time home buyers are from Gen Y category and they can be the most impatient lot of all, where they want to get everything done as quickly as possible and may end up in trouble. Moreover, real estate agents are one of the expert salespeople in the world and their job is to finish the sale as soon as possible and will pressure you to make an offer, sighting the property has a lot of offers and you will miss this chance and all other sales pitches. Do not get bogged down and stand firm, time is on your side and buy only if the home passes through your checklist.
It is always good to talk to the sellers if possible:
There is no better way to buy a home for yourselves by talking with the sellers of the home if possible. They are your best source of information for your prospective home. The sellers know the neighborhood, the community and all other important aspects of the home. On the other hand, you will get to know what were the renovations made and whether the home can take any of the plans that you have on your mind. Do not procrastinate, get 100% information on your home and make a smart buy.
Check for local crime rates in your neighborhood:
It is always good to know the background of the neighborhood that you are entering into. It makes sense to check the crime rates in your area. Do not get bogged down by the idea of visiting your local police station to check on the crime statistics in the area that you will be going to live down the line. If you are buying home in US, Canada, and UK then you can look into crime reports website where you can enter your address or zip code and check the crime statistics and other things. It is better to be safe from the beginning.
It is better to visit your home at different times of the day:
Believe us, this will help a lot before buying a home. Go check at different times of the day like on a weekday, weeknight or on a weekend. Check how it will be like to live somewhere and how quiet is the area on those days. By doing so you may as well test your commute and get to know the traffic patterns during rush hours and also look into the local transportation mechanisms. This part of the research will have a major impact on your enjoyment of the property down the line.
Buying your dream home is not an easy task, it needs patience, proper research and the right property that fits your bill. Get going and do your homework before you buy your home and give yourself the highest chance of getting the right home that you always wished for. Do let us know if you think there should be other important considerations while buying a home.