Owning a house is part of the American dream. But before making major decisions like this, careful planning and lots of research should be done so you won’t regret anything in the end.
Here are some things you should consider to help you decide whether the house you’ve been eyeing is worthy enough.
Inspect the house
Check the overall integrity of the house. Inspect walls, flooring and rooftop for cracks. It would be best if you can bring someone who is knowledgeable on house structures to make sure that everything is still sturdy.
Check cabinets and door hinges, making sure everything is in place. Faucets, toilet bowls and sinks should all be working and clog free. Electric outlets and heating must be functional and not grounded. Even the wall paint shall be checked for tarnishes.
Next, check the total lot area of the house. If you have a car, parking space should also be taken into consideration. Do you plan to plant trees or any vegetation in the remaining space?
Buying a house requires a lot of planning and money so you want to be sure that you get the best deal. Does it conform to the style you’re looking for? You should buy a house that lives up to its worth.
You’ll probably be spending the same amount as your neighbors in water and electric bills. Ask around for the average costs these utilities incur. It usually depends on the service provider in the area.
If you are concerned with high energy costs, look for homes with optimized weather-proofing, energy-efficient heating and cooling systems and updated electrical wiring.
If possible get records of past renovations, bills and other reparations done on the house. This would help you assess if the house is still worth buying. It would also give you an idea if you’ll need to do some renovations and reparations too in the near future.
Remember that you’re buying a house situated in the middle of other houses. You’re not alone in the area so it would be best to also check the neighborhood. How many of them own their houses? How many are rented?
It’s your job to know if there is a homeowners’ association in the area. The area should be well-maintained and security is strong. Crime rate and violence-related incidents should be low.
What establishments are accessible in the area? How far are they from your location? There should be nearby convenience stores open anytime in case you ran out of supplies. It’s also more convenient if there are teller machines present in the area.
When you’re buying looking for a home, you should also consider its location. Ideally, your location should be near your workplace or the school your children go to.
Police and fire stations should also be visible in the neighborhood. You’ll never know when emergency situations might strike. It’s best to know that help is within arm’s reach.
The price of the house should be within your set budget. You’ll be doing some renovations so include it in future expenditures.
Find a suitable mortgage plan for your house. Obtain more information about other legalities involved before deciding to buy a house. Be sure that all documents are present before doing the purchase.
You also need to have the down payment amount which is usually 20% of the total price of the home.