Giving your family a house to settle in is a next-level achievement. However, it would help if you considered some things that might affect your household over time. Thus, before signing the contract, check these factors you must know before getting a house.
Location plays a vital role when buying a dream house, as it can dictate your household’s future in the next five to ten years. However, contrary to what most people believe, purchasing a property in the second-best neighborhood is better than buying your dream house in a high-end community for several reasons:
- Price – Houses in progressing locations are cheaper than those in high-end communities.
- Safety – Although high-class communities have already established and polished systems to ensure people’s safety, there is still no guarantee that they can hold up their reputation as one of the safest communities in the coming years.
It is a little bit risky to invest in laid-back, underdeveloped locations. But if real estate companies choose these places for their projects, they foresee that the site will progress in a few years.
- Amenities – Believe it or not, real estate companies love to build projects near churches, schools, and malls. It might not be within walking distance, but most of the time, it will only take 15 minutes to reach these places.
Lot’s cut must always be on your checklist when house hunting. Is the size big enough for the whole family? Does it have a front yard or enough space for the garage? How about a backyard space where you can install a backyard kitchen and pool that you may use for specific occasions?
If the lot’s size and location give you advantages, feel free to make an offer, but don’t hesitate to look for other options if there is anything that might not work with what you envisioned. Remember, you must visualize the house and its location for the next decade.
The House’s Age
Don’t make the same mistake that most home buyers do. Always check the house’s age to know the property’s pros and cons.
Take, for example, an old house. Purchasing it may have advantages and disadvantages. One is its aesthetics. Homes built before the 1950s and 1970s have an appealing look due to their structural details compared to some newly built houses. However, most of these houses need renovation to adopt today’s technologies. You may need a new energy-saving HVAC system to ensure that the temperature in the house is comfortable enough for people inside it. Since these houses are more than 20 years old, you may need to have them regularly maintained and repaired.
Also, you may need to install HVAC access doors and panels for the repair and maintenance team to access your system to ensure they work quickly. Failing to maintain the HVAC system will significantly affect the house’s livability; worse, it may cause you to pay a higher energy bill.
Renovations and Upgrades
Another factor that home buyers mainly overlook is the possible renovations and upgrades. You may need to customize or upgrade your newly bought house, which gives you advantages. Some benefits you may enjoy from upgrading your home include better comfort, lesser need for maintenance and repair, and, most importantly, lower energy expenses. All these benefits will make your house the best healthy place for your family.
So, when doing a house tour, check the area that needs minor or extensive renovations. How much will it cost you? Or is buying the property worth it after considering the number of renovations?
Apart from all the essential factors mentioned above, it would help to inquire whether the house has insurance, as it is the best way to protect your home from calamities, especially in areas prone to extreme weather.
Look for home insurance that may also cover fires, floods, earthquakes, and damage through burglary. You must also choose an affordable insurance policy that covers and protects the physical structure and provide compensation for the broken and lost valuable things inside the house.
Buying your dream house is more than giving an offer of its value. It takes responsibility and wise decision-making. These are necessary for you to avoid losing for purchasing it, and instead of reaping all the benefits of an asset, you might end up packing your things and selling them at a lower price. Thus, make sure that you consider the five factors you need to consider when buying a home. The list will help you find the best house in town without breaking the bank.