Tips For Buying A Home

Important things to consider when buying a home.

Visit the house at various times of the day. The windows that let in so much light during the day may be a peeping Tom’s dream at night. That seemingly quiet residential street may be a noisy, highway-feeder street during morning or evening rush hour; or it may be near impossible to get from your quiet street across traffic and onto the feeder street in the morning. The adjacent school may seem like a nice perk if you’re buying in the summer, but during the school year, daily playground noise and extra traffic may be more than you bargained for when buying a home.

Look through recent newspaper archives to find information you may not be able to see. Perhaps the municipal water well that feeds your neighborhood has high levels of contaminants or a proposed high-voltage power line may soon be coming through your back yard. You can also check with the city or county to see if there are any proposed projects before buying a home.

Visit with the neighbors to get a feel for the neighborhood. How many people in the neighborhood own their homes? Sometimes it’s hard to tell at first if you’re choosing a neighborhood that’s primarily rental houses. Checking out the neighborhood you are buying a home in should be a major deciding factor.

Find out if there is an association in the neighborhood. Also find out if there is a community newspaper and if they plan get togethers and block parties. If the community plans events together that is usually a good indication they have shared interest in the look and well being of the neighborhood.

Talk with the sellers you are buying a home from to find out more about the house. What problems are they aware of that the house had in the past – even if they’ve been fixed? An ice dam five years ago may have caused water damage that has since been repaired. But it’s good to know that the house may be prone to ice dams so you can take preventive measures rather than find out the hard way. Discovering the basement flooding was solved by building up the landscaping in a particular area will prevent you from leveling the ground there in later years.

Invest in a home inspection before buying a home. Virtually all houses have defects, according to National Association of Exclusive Buyers Agents. Some will be obvious and most will be curable. But knowing what needs fixing can help you negotiate a lower price – or at least prepare you for costs you’re soon to incur. Strongly consider getting inspections, too, for lead paint, radon and wood-eating pests.

When buying a home get detailed records on past improvements. This isn’t always possible. But if you’re told the house’s exterior was painted two years ago – and then see a receipt noting the whole project cost just $1,000 – then you’ll be forewarned that cheaper materials were used and that you may be looking at repainting sooner than you thought.

Don’t just assume remodeling will be a snap when buying a home that needs some work done. If you voice your ideas to the sellers, you may be able to glean valuable insights. For instance, perhaps that shower is in an odd location because, when remodeling 10 years ago, the previous owners discovered a costly structural impediment to putting a shower where it would seem more appropriate.

Check out the seller’s previous tax bills when buying a home.Don’t just ask what the seller’s most recent tax bill was; ask what several recent tax bills have been. In some areas, houses are re-appraised – and taxed at higher rates – frequently. That great deal and good investment may not seem quite so grand if the property taxes skyrocket year after year. Again, look at newspaper archives or talk to your Realtor about the way taxes are used in this area. In some cities, schools are substantially funded through property taxes – which means you can count on yours increasing regularly.

Reconsider any extras or lack there of when buying a home. Are you sure you can live with a one-car garage, or a detached garage, or on-street parking? The pool may be a nice bonus, but can you afford the upkeep?

Explore the surrounding area of your potential new home. If you’re not just making a cross-town move, you may not know that only three blocks away, this pretty neighborhood backs up to a dumpy commercial area or a less-than-savory part of town. If the home is near an airport, fire station, police station, hospital or railroad track, expect to hear trains, planes or ambulances throughout the day and night. Make sure you’re not too close to an agricultural area that may generate odors or kick up dust or other airborne problems.