Buying a Home

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Home shopping has been made easy.  With access to the Internet you have abundant information at your fingertips. You have access to data bases filled with property listings, and virtual tours that can take you through a home without even leaving your doorstep. Still, as a buyer, you need to be savvy.  You need to know what is available in housing and how to find the perfect home for you and your family.  You need to do your homework.

Market analysis criteria is available to learn of the market value homes sold for in specified areas as well as of those presently listed. Comparative data zeros in on just exactly how one property compares with another. Everything you, as a buyer, want to know about a home is available to you through the real estate agent you choose to engage with in your search.  You then can make your decision based on your wants, needs, and preferences.

Before making a decision on location, you will want information regarding the neighborhood. You might want to  consider availability to shopping, schooling, churches, parks, recreational facilities, and access to major roads and other modes of transportation.  Along with your wants you will have to also consider those things you do not want.  For instance, you might seek to avoid an area just because traffic is heavy.  Another factor that may influence your decision is the age and general maintenance of the area. Though these factors are beyond anyone’s control, they have an affect on property in a neighbourhood.  If you are unconcerned about such negative affects and still choose this to be your new location, you will benefit from knowing that these negative factors will be reflected in the market value of a home.

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Once you have decided on a neighborhood, you will want to know how homes for sale in this area compare with one another. Of course you will want to compare the price, but also features such as age and style of home, square footage, and number of bedrooms and bathrooms.  If you have a large family, you may want a separate dining room, finished recreation room, or family room addition.  Do you want a fireplace and central air conditioning?  When doing your search, you may also want to consider the benefit of additional lot features, such as a swimming pool, or one with mature trees or other natural benefits, but expect to pay a premium for such features.

So you have found the home you are looking for.  But your search may not yet be over.  You have found everything you want in a home and are ready to put in an offer, but be wary.  You still need to consider the condition of this home.  Is it structurally sound?  Of course you, yourself, may not be able to determine this.  You will want to add a conditional clause in your offer giving you the right to have a home inspection done.  A home inspector will check if footings and foundation are without movement, if the basement is dry, and if not, is wetness just seasonal and caused by improper grading of the lot or drainage via eaves troughs and downspouts. Can it be eliminated by regarding and fixing or cleaning eaves troughs and downspouts?  Or is the leakage caused by cracks in the foundation, a more serious condition.

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Other structural elements such as framing and ventilation will also be checked.  The damage done from flaws may not be apparent to the eye, but a well-trained home inspector will catch them.  Others issues more noticeable are sagging or squeaky floors, sagging or leaking roof, cracks in the stucco, brick, or stone work, as well as window leaks.

Not only structural, but mechanical systems and heat efficiency need to be assessed.  Are electrical, heating, ventilation, air conditioning, and plumbing up to code and in good working order?   Are fireplaces and chimneys in efficient working order?  Is the water well and sewage system in good repair? How well is the home insulated?

Your home inspector will provide you with a full report of the details regarding the condition of your prospected home including costs of repairs.  You have the opportunity at this time to drop your offered buying price to accommodate repairs, and if accepted, go ahead with the deal.  It is also at this time that you have the opportunity to walk away from the deal altogether and continue your search if you are not happy with the results of the inspection.

So yes, there are many helps available to you when searching for that perfect home.  Take advantage of every one, and you will find the home just right for you!

 

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~ by shirleyliseblogspot on March 20, 2013.

One Response to “Buying a Home”

  1. We’re about to start looking at homes for sale in Mooresville NC, and reading through these tips definitely put some things into perspective for me. Thanks for the insight!

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