Buying a house can be extremely exciting, but it is also most likely the biggest purchase you will ever make, and moving is no great joy. Even though it’s extremely easy to get excited about the perfect house you’ve found, there are some things you should take into consideration before signing the paperwork. Following are just a few of the most important that you might forget while admiring the hardwood floors and new granite, and some practical tips to help you along the way.
1. Location: When looking for a home, you need to decide what is most important to you–do you want to live near work, and have a short commute, or live in an area of town that you enjoy more? I have a friend that says he’d rather commute to work than commute to fun, so he’s okay driving almost an hour to work each way. Personally, I like a short commute–at the end of the day, I can be home in a jiffy and relax in my home. If the potential home is far away from your work, really put some thought into how much time you want to spend in a car each day.
Tip: If possible, take the commute for a test drive–go to the house in the morning during the week at the time you would need to leave for work, and then drive to your office to see what the traffic is like. Ten miles may not seem like a lot of time on a Saturday afternoon, but 7:00 a.m. Monday morning may be a different story. Try the same in the afternoon just so you know what you’re getting into.
2. Size: Don’t buy more house than you need. It may be extremely appealing, if the location and price are right, to buy a house that is much larger than you originally intended. “Look at all the space!” you think, while twirling around the huge den, arms spread out Sound of Music-style. With all that space comes cost and work, though. The bigger the house, the more it costs to heat and cool.
Tip: Ask your agent to find out the average electric bills for the property
Also, the more expansive the property, the more house you have to clean and maintain. If it’s just you and a partner, a 4,000 square foot, 5-bedroom house might turn out to be a bit much to vacuum when you only spend your time in four rooms. Also take into consideration the size of the lot–how much time do you want to spend in the yard? If the answer is not much, and you don’t want to pay someone to do the lawn work, spending your Saturday mowing a big back yard can get old fast.
On the other hand, buy enough house. Think about your future plans–how long do you plan on staying in this home, and are you planning on your family expanding? To use the example from above, if it’s just you and a partner now, but in three years there might be a kid or two, maybe that adorable two-bedroom, one bath bungalow wasn’t the best choice, because now you have to sell and move, all while taking care of little ones. The same applies to the lot size–some people really like townhouse or condominium living because of the lack of yard maintenance (which comes with a cost, though, in the form of HOA dues), but if you plan on having a family that would want to spend some time playing outside, you probably want to take that into consideration now and save yourself the cost and hassle of moving later on.
3. Storage space: Make sure the home has enough storage place to store everything you have now, plus a little extra space for stuff you will accumulate over the years. Always check out closet space, but check out other spaces, too: attics, walk-in storage, extra space in a garage or carport.
Tip: Take note of how many closets the house has (and how big they are), and compare that to your current living situation. My favorite areas of town all contain homes that were built in the 1960s and before, and closet space was not a high priority in most homes of that age.
4. Neighborhood: You’ve found what you consider to be your perfect home. Now go outside and take a look around you. Are the homes and yards in good condition? If not, is this something that will bother you every time you pull into your driveway?
Tip: Listen for traffic noise, and take note of how well the house is insulated for sound. Is there a train nearby? If so, they don’t go by often, but are loud when they do, so keep that noise in mind when you are considering buying the home..
Tip: Drive through the neighborhood during the day and at night to make sure you feel safe.
Tip: If schools are important to you, make sure to call the system and check for the zoning yourself, and ask if they are planning on rezoning any time soon.
BIG Tip: Take a walk down the street and talk to people that you see outside, tell them that you are thinking about moving into the neighborhood. Neighbors generally LOVE to talk, and they will tell you the story of the neighborhood (and possibly your potential neighbors) without any sugar coating.
5. Condition: You will most likely have an inspection done before you buy a home (I would never, ever, suggest purchasing a property without an inspection), but there are some things that you can be on the lookout for before you put in the time and effort of writing an offer.
Tip: If it’s an older home, check out the windows–inefficient, single pane windows can add up to big electric bills in the winter, and windows can be expensive to replace. Again, ask your agent to find out the average electricity costs for the home.
Tip: Look at the ceilings and the top of walls for any sign of water stains–peeling wallpaper along the top edge is a good indication that there may have been some water damage.
Tip: Take a deep breath–if the home has a mildewy smell to it or feels damp, mold can be very expensive to clean up.
Tip: If the home has wood siding, and the paint is in poor condition, get an estimate to see how much it will cost to repaint the home once you purchase it.
6. Layout: You’ll generally know when you walk into a home if you like the layout, and this is a personal preference. Maybe you want an open floor plan where you can keep your eyes on everything all at once, or maybe your prefer separate living spaces. Take time to consider how you will live in those spaces, though. Do you want a separate, formal living room? If you’re looking at a house built in the 1970s or before, you will most likely have two separate living spaces. How will you use that space? If the house is completely open, are you going to always be okay with seeing, and hearing, your family all the time, or will you eventually want some separation?
Tip: If you really love everything about a house except a couple of problems with the layout, talk with your realtor about possible ways to change the space and ask for a recommendation for a good general contractor.
7. Light: Many people don’t take light into consideration when buying a home. Light can have an effect on your outlook and mood, and moving into a house that is naturally dark can be a huge downer. You can always bring in lamps to increase light in a space, but there’s just something to be said for natural sunlight.
Tip: Make sure you see the home at least once during the day.
Spending just a little time to consider these seven factors and following the tips above can save you time, money, and effort. Never rush into buying a property, no matter how perfect it may seem at first glance, because you are making a decision about where to live your life. Talk to me today about finding your way home.