Navigating the real estate market can be tough for first time home buyers and experienced buyers who are unaware of the constantly changing housing market. To help you with purchasing your next home, we’ve put together a list of everything you need to research so you can be fully informed when you move in.
Location, Location, Location
How long will your commute to work be from the home? How are the schools in the area? Do you want to be closer to suburban, rural, or urban areas?
Before buying your home you need to answer these questions to ensure that the home you buy is going to be the right fit for your life. One of the best ways to compare houses is by using pros and cons lists and considering which home features you want most. Luckily, the U.S. Department of Housing and Urban Development (HUD) website features printable wish lists and home-shopping checklists that you can use to assist you during this part of the home buying process.
WalkThroughs and Inspections
One of the most important actions you can take to be proactive in researching your new home before purchasing is to conduct walkthroughs and inspections of the property. To ensure that the home you’re interested in buying is exactly as advertised, you should:
- test appliances
- test heating and air conditioning systems
- test the electrical and water systems
- review the home’s condition
- check for signs of damage or pests
- open all doors and windows
- inspect any and all repairs that have been completed
- inspect the foundation, ceilings, walls, and floors for any cracks or damages
- run garbage disposals and exhaust fans
- inspect the outside of the home and the land it’s on
- make sure all debris has been removed from the property
If you’re using a real estate agency, ask them to accompany you during every walkthrough conducted so that you can properly document and inquire about any issues you encounter with your agent immediately.
Last but not least, the most important thing you should consider before purchasing a home is your budget. Purchasing a home means you need to be aware of your finances and how your new home fits into them.