04 Jan 08 
Home Buying Guide: Part 1
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For most of us, buying a new home is the most expensive and important purchases we will ever make. Homes should always be thought of as an investment, but in most cases, you buy a home to accommodate your living needs and wants. Whether you are buying a home solely as an investment, or buying a home to live in, there are numerous things you should know and consider about the house before you buy it. This post is part one of a two part Home Buying Guide designed to inform the average home buyer about some of the things to consider when purchasing a home.
Housing prices are often determined by location, size, features and the condition of the home. In today’s market, the average home can easily cost a home buyer over two hundred thousand dollars. This is why it is important for the home buyer to think about all aspects of the purchase before buying a property. Very few people can properly assess a home’s condition and value, which is why you should always have a professional appraiser and real estate agent look at the property prior to purchasing it.
Be sure to keep your present and future needs in mind when shopping for a new home. If you are buying a home to live in, will you be living alone? How much home can you afford? Do you plan on increasing the size of your household? If so, is there adequate space for additional rooms? How long do you plan on living in the home? Do you want a new home or a resale home? etc…
Location, location, location. We have all heard that saying before, and as you might have guessed; there is a very good reason for the repetitive phrase. Buying in a good location is important for a multitude of reasons. Some questions you should ask yourself, or perhaps your real estate agent, are: “Is this home in a good neighborhood or a bad neighborhood?” “How far away will I be from work, shopping, and schools?” “Is there convenient access to freeways?” and so on. Make sure the location meets your wants and needs, and is in a neighborhood and area that will be attractive to potential home buyers when you decide to resale your home.
In regards to the actual home, there are several important factors to take into consideration. Do you want a single-family home, custom home or a condo? Does the home builder have a reputation that may negatively affect your chances of reselling the home? Does the home have features and appliances that you’ve always wanted? How does the home look aesthetically? Is the home in good condition? If the home is not exactly what you want, how much money is needed to make necessary repairs and improvements? If a home isn’t initially pleasing in its appearance, can it be? If so, what needs to be done and how much will it cost? Keep in mind that changing the homes architectural style is not easy and can be very expensive.
A home buyer should always think about every aspect of a home before choosing to purchase it. It’s important to ask the advice of real estate experts to ensure that when you do buy a new home; your home not only meets your needs but is also a good investment.
Tags: buyers guide, buying a home, home buying, home buying advice, home inspection, homebuyer, Homes for Sale, housing prices, investing, new homes, Real Estate, real estate investment
