Home Purchasing: 7 Most Critical Factors

Home Purchasing: 7 Most Critical Factors

Home Purchasing is a big decision. It not only represents one of the biggest financial investments of your life, but it also is where you will spend a significant portion of your life. Due to this, there are many factors to consider before signing the dotted line, besides how many bedrooms the house has and if the kitchen happens to be updated. Here are 7 things to look into before buying that dream home.

1. Geography

Location is about more than just the neighborhood when it comes to home purchasing. The area of the country you choose to live in can dramatically impact how affordable a home is depending on housing costs in the area as well as the price of property taxes and utilities. Beyond price, things like weather, culture and job opportunities are all things you will want to consider before settling down for the long term.

2. Lifestyle

A quaint cottage surrounded by open land may be picturesque, but is living in a rural area far from shops and cultural entertainment something you enjoy long term? There’s no correct answer to this, but be sure to only grab a place in the city, the country or the suburbs if that is the lifestyle you are comfortable with from day to day versus a nice vacation.

3.Home Purchasing:  New/Previously Owned ?

Home Purchasing with previous owners tend to be less expensive than buying or building something bad new, and you have the benefit of seeing how the home holds up over time. At the same time, older homes will need repairs much sooner, and if the home happens to have older wiring or plumbing, you will want good house insurance to cover any potential problems.

4. Neighborhood

Looking into the actual dynamics of the neighborhood is, of course, important. Is your home the nicest on the block or does it fit in nicely with the other homes? Look into crime statistics, income level and typical education level of the neighborhood. When home purchasing consider if the demographics of the neighborhood match what you are comfortable with. If you can, try to talk with some of the people that live in the neighborhood to get a better idea of what it is like.

5. Traffic Patterns

Traffic is commonly overlooked when home purchasing, but living next to rush hour traffic or having a stream of cars pass through your street everyday because you live right by the elementary school can quickly become a nuisance. Also, do you have easy access to main roads from where you live? What will the commute to work be like. Be sure to try out the commute and drive around the neighborhood at several times of day to see if the traffic patterns will be tolerable.

6. Proximity to Activities/Family

It is also important to consider how close you want to live to your friends and family as well as which leisure activities you will want close access to. If you only like to go out every once and a while living further away may not matter, but if you like going out several nights a week, closeness to those activities will be important.

7. Public Services

Finally, be sure to check out the schools, parks, libraries, museums and other public services that will be important for your family. How well maintained these places are can tell you a lot about how well funded the city is and whether your property values will stay up or not.

Robert Cordray

Robert Cordray

I'm a business owner and entrepreneur turned freelance writer who enjoys writing about business, and Technology. I have experience in writing software, mobile app development, and information systems.

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