New Home Buying... Consider This!
When you decide to go buy a new home, you’re going to hear a lot of things that don’t make sense, or that may seem confusing to you. Often, there’s no one to explain things to you, and you get caught off guard. These are just a few things for you to know that might help you as you go on your journey towards home ownership.
1. The more land you have, the more your home will cost. Land is a very valuable commodity, as builders are always looking for areas to put houses or buildings. A small house on a lot of land will cost you the same as a big house with almost no yard. And, land doesn’t mean land that can be used for, well, digging, so to speak. If you bought a lot that was totally paved, that would still be called “land”.
2. You need more land for a ranch than you do for a traditional home. Ranch houses are all on one level, which means everything is spread out. Traditional homes have most of the bedrooms on the second level, so they can be a bit more compact.
3. When measuring square footage, attics and basements don’t count. This one doesn’t make a lot of sense, especially when you consider that many people have finished basements, but it’s something you need to know. A finished basement adds to the value of the house, but since it’s not counted in the square footage, you could benefit greatly from the extra space. The same goes for attics that have been modified as useful space.
4. Not all “bedrooms” are equal. A home might have five bedrooms, yet not be able to legally classify itself in that manner. In today’s world, bedrooms must have closets to qualify as a bedroom; this wasn’t always true in the past. There are also height issues. A bedroom must have a ceiling that’s at least 7 feet high; that’s why many attic bedrooms aren’t legally allowed to be called that. Still, it could be valuable space to use.
5. Think about the costs associated with heating a house with lots of open space. Houses with 13’ ceilings can be compelling and beautiful, but that’s a lot of wasted space when it comes to heating your house. If you live in a cold area, your utility bills could skyrocket from what you’re used to.
6. Always look at baseboards and corners in every room, including the bathroom and the tub areas. You can get caught up in the beauty of a home and miss some obvious signs of things that aren’t quite right. Most potential new homeowners don’t know mold from a decoration, and may miss cracked or worn away areas along the floor that might indicate pest problems. We tend to almost always look up or around; don’t forget to look down.
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“Always look at baseboards and corners in every room”
Yup.. A lot can be hidden behind mouldings. It’s really a surprise to find a damaged wall after you bought a house, and decided to replace/remove the moldings.
“don’t forget to look down”, and look closely as well.
Very general tips but useful information for homebuyers no doubt.
Real Deal Property ´s last blog ..Real deal property
It’s true about the bedrooms but homes are valued at how many bedrooms they have even if you couldn’t really fit a bed into it. And you heating comment is a good one – we moved from a small house to a much larger one and the heating and lighting costs have gone skyhigh….
Very useful tips that are sure to get buyers thinking. Thanks for the list!
I am strongly considering moving to a home this spring. I currently rent and am a first time home buyer. What are the key things I should look for to ensure that I am getting a good house and a decent deal when I buy?
Daniel Corporate Housing´s last blog ..Stylish and affordable rental homes
Homebuyers should not just focus on the actual home – where the home is located is important as well. You’re not just investing in your home, you are also investing in a neighborhood or in a local community. You also have to consider your new home’s distance from your friends, family, school, work, commercial areas and other services.
It’s also worth considering how you can add value to a home. I expect most will change things (bathrooms, kitchens etc.) on moving in to suit personal taste. On some properties this will add more value than other due to other factors such as location, neighbourhood etc.
If you have the self confidence to do it, then before putting an offer in on your new home, it is a good idea to knock on the doors of some of your potential new neighbours to talk to them about the area and get a first impression of the community you will be moving into. Better to find out before you are committed than once you are in and it is too late!
Allan @ Cardboard Moving Boxes´s last blog ..Contact Us
Sometimes more land doesn’t = more value. Especially when the dreadful “flood plain” is a factor. In some of our rural areas the school district and septic tank approval is a huge factor. Location, Location, Location is by far the best calculator. But in general, you’re right. Who doesn’t want more land?
Brian @ Columbia SC Real Estate´s last blog ..MLS Listings Columbia | Craigslist Cross-Reference
Thanks for sharing. Great point with #6 especially. I know a family that was very excited for their new home and then discovered mold after moving in. The entire family was ill. I’d recommend a house inspection too.