According to Mark Roemer Oakland, purchasing a new home is not an easy task since you have to consider so many different factors. However, there are certain factors that you must check to ensure that you get the best deal and make a wise purchase.
Here are a few critical things to check when buying a home:
- The location – The location of the property is one of the most important things to consider when purchasing a new house. And it is one of the factors that decide the final price of the property. Generally, you would want to purchase a house that is in close proximity to your workplace, shopping centers, parks, malls, places of worship, and schools or colleges if you have kids. The property should also have easy access to many different types of transportation routes.
On the other hand, if the property is located right in the center of the city, it can be too noisy to live in your house and the property would be costlier than average. So, it is crucial to keep a balance between the several requirements.
- The condition of the property – In ideal scenarios, it is recommended that you purchase ready-to-move-in properties that are newly constructed or renovated recently since these allow you to move into your new home quickly and without much hassle. However, oftentimes, you can find properties with great deals that only need minor repairs, and which could prove to offer a better return on investment.
However, if you are considering purchasing old properties that are in need of major renovations, you should calculate how much you have to invest in order to get the property back into good shape before signing any papers.
We recommend you avoid old properties that require you to fix damaged roofs, uneven floors, plumbing issues, HVAC systems, inefficient windows, exterior cracks, flooding, mold, or water damage since these tend to be very costly.
- The number of rooms and layout of the property – The layout of the property is an important factor that you need to consider when purchasing a property. For instance, a house that has at least two bedrooms would be sufficient for small families. However, if you have many kids or would have to entertain guests frequently, you would need 3-4 bedrooms, 2 bathrooms, and guest rooms too.
The size of the bedrooms, bathrooms, living rooms, kitchen, etc. are also important to consider. The layout of the kitchen, entryway, and balcony is also important to consider as well.
Mark Roemer Oakland suggests you set up a home-buying budget based on your pre-approved loan offer and only browse properties that wouldn’t be a burden in the long term. And, although it is possible to stretch your home-buying budget in some cases, it is recommended that you don’t exceed it since there are several other costs such as homeowners insurance, taxes, and more that you have to consider and accommodate within that budget.
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