When buying a new or pre-owned home, there’s no shortage of things to look out for. However, some aspects of the home are far more important than others. Let’s review the six most important things to look for in the home-buying process.
1. Price
Of course, the home purchase price is one of the first things to consider when buying a house. Not only does this price need to be in your budget, but you’ll also want to consider any potential problems or existing issues the inspection process uncovers. These problems can eat into your monthly budget and make affording the mortgage payment difficult.
2. Home Type
You also need to make sure the home aligns with your family’s needs. If you’ve grown tired of living on top of neighbors in a townhome or apartment, for example, a single-family home is a must. Make sure your potential new home has the right number of bedrooms and bathrooms for your comfort. Also consider other amenities, such as a great kitchen, a pool, a three-car garage, and whatever your non-negotiable features might be.
If you’re handling the home search yourself, this is relatively simple to control — you can make sure you only see homes that meet your criteria. When working with a real estate agent, you’ll want to be crystal clear about what is a priority in your new home and what is negotiable so the agent can find only houses that meet your needs.
3. Location
Location is another huge factor in the home-buying process. Ensure that your potential new home is in a setting you prefer, such as rural, suburb, or urban. You also want to consider what stores are nearby, the school district (if you have school-age children or plan on having kids), property taxes in that area, proximity to hospitals and fire stations, and more.
4. Home Size
The number of rooms is a great place to start, as mentioned earlier, but you’ll also want to consider the home’s overall square footage. For example, squeezing four bedrooms into just 1,000 square feet will likely leave little room for entertaining in common areas.
Don’t forget about the lot the home is on, as well. If you want a house with ample yard space, room for a patio or pool, or good land for gardening, be sure to factor those into your search criteria.
5. Home Condition
The home’s condition is another huge issue, as poor maintenance in a home can lead to numerous problems that can bust your budget down the road. This is where hiring a high-quality licensed home inspector really helps. They have the experience needed to find the easy-to-spot issues and those more complex, hidden issues — the ones that can become major problems later.
Some areas a quality home inspection will check out include the:
Roof: Home inspections will include checking for leaks and structural issues, such as rotten or damaged roof trusses, that can cause immediate or future problems.
Foundation: The home inspection checklist will include checking the foundation for cracking, crumbling, and other structural issues. During the professional home inspection, the inspector will also check the ground the home sits on for sinkholes and other potential issues.
Plumbing: A home inspection service will also check all the plumbing inside and outside the home for leaks. Leaks not only wastewater, but water damage can also impact the home’s structural integrity if it causes rot in the wood used to build the home. The inspector will also check the water heater to ensure it functions correctly and is not outdated.
Electrical: Most home inspections will also include a full electrical system review. The inspector’s detailed report will outline any wiring problems, code violations, or outdated systems that need replacing.
Heating, ventilation, and air-conditioning (HVAC) systems: The HVAC system is one of the biggest draws on a home’s electrical system, especially in southern states such as Florida, Georgia, and Texas. A professional home inspector will examine the HVAC system for efficiency and malfunctions to ensure you know what you’re purchasing will work at peak efficiency for years to come.
Windows: A property inspection also generally includes a review of the windows in the home. In a thorough inspection, the home inspector will determine the types of windows in the home and verify that they are up to code. The former can help you figure out if they’re high-efficiency windows or outdated ones. Outdated windows may lead to even more energy consumption.
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