Your Ultimate Guide to Home Buying: Factors to Consider

Purchasing a property is a significant life decision. As a home buyer, it's essential to consider several factors before committing to a new home. Here is a comprehensive guide to help you navigate the home-buying process effectively.

Price

When buying a house, the price is usually the biggest concern for people. If you go over budget, you might end up being house poor. That means you'll be putting too much of your income towards mortgage payments and not have much left for other things you want or need. So, before you start looking for a house, take a hard look at your budget and figure out how much you can really afford to spend on a monthly mortgage payment.

Also, make sure to get pre-approved for a mortgage from your lender before you begin house hunting. This will give you an idea of your price range and help you avoid wasting time checking out homes that are way over your budget.

Location

When it comes to buying a home, where you choose to plant your roots can really shape your daily routine. That's why it's super important to think about location as you're on the hunt for your dream home. There are a bunch of different things to think about when it comes to deciding on a spot, so make sure to take a step back and evaluate all the factors before making a final decision.

• Flood Zone

• Crime Rates

• School District

• Distance To An Airport

• Public Transportation

Roof Condition

Hey there! Want to avoid a huge surprise cost in the future? Don't forget to check the roof's condition when you're checking out a house. You probably won't be able to physically see it, but here are some questions to ask to figure out its condition:

• How old is the roof? The lifespan depends on the material, so knowing the age of the roof can give you an idea of how much longer it can last.

• Does the homeowner have a roof certification letter? It's not necessary, but it's worth asking if they have it since the letter estimates the lifespan of the roof over the next few years.

• Can a roof inspection clear things up? A roof inspection can help you get an accurate assessment of the roof's condition, especially if you're concerned about its age and overall condition. Make sure to get one if you're unsure!

House Size

Hey, when you're checking out houses, make sure to think about whether they'll be a good fit for you and your family. It's important to pay close attention to the size and layout of the house so you can tell if it works for you. Here are some things to think about when you're taking a look:

• Square footage

• The home’s overall layout

• Number of bedrooms

• Number of bathrooms

• Living room size

• Whether there’s a garage, basement, or attic

• Yard space

So, when you're looking for a home, it's super important to figure out what's most important to you. Is having a big yard a must-have? Or maybe you need to be close to good schools or public transportation. Whatever it is, make a list and prioritize it. After all, a home is a huge investment, so you wanna make sure it ticks off all your must-haves!

Plumbing Issues, Water Damage, and Mold

Got a confusing home plumbing issue? Don't worry, it's easy to get overwhelmed when you're not familiar with the systems. Do a thorough inspection for issues like leaks, unstable toilets, discoloration, water heater noise or rust, and musty smells. If you suspect water damage or mold, get it checked out by a pro—it's better to be safe than sorry. Your real estate agent may be able to provide extra insight, too!

Property Taxes

When considering the cost of owning a home, it's important to keep in mind the amount of property taxes you'll be paying each year. Take some time to research the recent property tax rates in your area and make sure you factor this into your overall cost of living so you know if you can afford a home.

Homeowners Association (HOA)

When you're looking for a house, be sure to consider whether you want to live in a neighborhood with a Homeowners Association (HOA). These associations come with fees and restrictions that you need to take into account before you make an offer. You should also think about how much you can realistically afford to pay in HOA fees each month, as this will be an extra cost alongside your mortgage. That way, you can make sure you're not putting in an offer for a house in an HOA community that's too expensive for your budget.

A Good Foundation and Home Exterior

The story of the wise man who built his house upon the rock is a reminder that a strong foundation is important. Bowed walls or bulging foundation walls can be a sign of a structural issue and can be expensive to repair. Just one steel reinforcement strip alone may cost around $1,000. Other warning signs to look out for are cracks in the foundation, exterior, drywall, or ceiling, gaps above doors and windows, sunken stairs or porches, and sloping or uneven floors or tiling. Not all cracks are serious, though, so be sure to get a professional home inspector to assess the situation.

Outlets and Appliances That Actually Work

That shiny refrigerator in the kitchen might look impressive, but does it actually make ice? It's important to check all appliances when you're looking at a home, from dishwashers to washers and dryers, and even microwaves. Don't forget to bring your phone charger when you tour the house to make sure all the outlets work – you don't want to find out the hard way that one of them isn't functioning!

Amenities

Finally, think about what kind of extras you'd like in a neighborhood. For instance, if your house doesn't have a pool, look for one in the community. Or, if you have kids, a playground in the neighborhood is a great bonus. Plus, if you don't have the time or the energy to take care of a lawn, look for a place with an HOA that covers lawn maintenance. In the end, amenities are great to have but aren't necessarily necessary. They can make living in your neighborhood an even more pleasurable experience.