The price of the property is just one of the many things that a homebuyer needs to look into when buying a home. There are other things to consider once you start shopping for your dream home. Having a list of priorities that you want in a house is a good start. This will help you narrow down your options and help your realtor know what you’re actually looking for.
Basically, your criteria still depends on your lifestyle needs. So we’ve put together a list of important features you should consider before taking the plunge and buying your dream home.
Things to Consider when Buying a Home
1. Location of the house
Surely, you want a location that is accessible to places you visit the most. You choose to buy a home that’s far from traffic or near the neighborhood’s recreation area. You can also get a property with a booming job market and low cost of living compared to other major metro areas. Depending on your preferences, the real estate industry is vast enough so you can get the right house that suits your needs.
The Zillow Group Consumer Housing Trends Report 2019 lists the home features that rank as very important or extremely important to most buyers.
2. The size of the property
A big house can mean more space to maintain and higher utility bills to pay. But this also doesn’t mean you need to buy a smaller one. The size of the house and lot matters so think about how much space you really require. When going to open houses, you’ll notice that every house is situated on various lot shapes and location. You’ll see corner or interior lots that are in rectangular or irregularly shaped.
3. Crime rate in the neighborhood
While crime is everywhere these days, everybody wants a safer neighborhood. When searching for a home, you might as well check out the crime stats in the neighborhood. While your real estate agents can’t legally answer about what happens after dark, you can check the following online tools – myLocalcrime or Community Crime Map.
4. Property condition
Unless you’re buying a new house, it’s important to assess the property condition. Buying an old house might require lower initial, but higher maintenance costs. Don’t buy a house just because it has the kitchen layout that you want. A beautiful house can still hide real problems. Surely, no house is perfect but always pay close attention to details. Are there plumbing issues? Do you see any uneven floors or small wall cracks?
5. Long-term value of the property
A typical Houston homeowner stays in their home for at least 12 years before selling. Think long term when shopping for a home. If you’re planning to expand your family, have a dog, or buy another car, make sure the home you’re looking into now can accommodate your future needs. If you intend to sell your house in the future, you might consider possible ways to increase the market value of the property.
6. Get pre-approved for a mortgage
Getting pre-approval doesn’t guarantee a loan. A lender might need additional requirements or your financial situation changes. Regardless, it’s still important to get pre-approved for a mortgage before buying a home. The most important reason is that you will have an accurate idea of how much home you can afford. Based on your financial history and health, you’ll know which neighborhoods are actually in your price range.
7. Hire a real estate agent
Most homes sold will have an agent representing the seller. The listing agent will make sure the seller’s best interests are being protected. To make sure that your best interests are being protected as well, you should hire a buyer’s agent.
It can be tempting to try and go it alone when buying a home. But a buyer’s agent is at your disposal for any questions or concerns regarding the property you’re looking into. If you’re concerned of the cost of hiring one, a real estate agent’s commission is paid for by the seller and not the buyer.
Home buying requires a thorough examination of the property and its features. The whole process can take at least 4 months so take advantage of this time to carefully check each property that fits your criteria. You and your loved ones will eventually stay in the house for a considerable period before turning it into an investment. As such, don’t hesitate to be particular until you find the home that can accommodate your needs.
Have you considered these factors? If you haven’t seriously thought about these factors, now is your chance. What other important things do you consider when looking for a house? Let us know in the comments below. If you find this blog post helpful, please consider sharing it with others. And, if you’re looking into buying a house in Houston, talk it over with an APEX Realtor today