10 Features to Consider When Buying a Property for the First-Time

The buying process is exciting but at the same time, it involves certain complexities. When buying a house, every buyer has their own priorities. The buying process takes time and it is easy to get off track.  

But if you have already set your priorities, then it will be of great help and this will guide you through the entire process.  

As a professional real estate agent, I have penned down some basic yet the most important factors that a buyer must look into before buying a property. This blog will take you through the process.  

If you hire a real estate agent, your realtor would also want to understand the things on your priority list. Once the priority aspect is understood, the house which does not work for you will be eliminated, making it easier for you to understand what is needed and what not.  

 

In this blog, we will discuss things that one must consider when buying a new house. Each point may rank differently in the order of importance for individual buyers, but every point will be worth it.  

Let us check it out. 

The Location  

Most buyers want a location that allows them easy access to the places they frequent the most such as their work place, school, shopping, recreation, friends, family, and the place of worship. The buyers look for easy access to the main roads and also check the flow of traffic.  

Checking the location before making a purchase can help in saving you from the hassles, getting out of the neighborhood and will also save you from unreasonably long commutes.

  

Deciding the location of the home within the neighborhood is really important. Some people prefer buying a house away from the traffic, in a peaceful environment, while others may want to live amid the developments to access the basic amenities.     

The Size  

A considerable number of people give a little thought to the size of the house they are going to buy. Within the neighbourhood, the lot sizes may be similar but once you are going to show and look at what is available, you will soon see if you have got a clear preference of corner, interior, large or small.  

Some lots come in pie-shape; some are rectangular, and some are even irregular in shape. Depending on privacy, you will use the lawn and the length of the driveway.   

Bedrooms in the House  

Each family will have an idea of how many bedrooms they would want to have in the house. Most people will want at least two bedrooms, or more, if there are children in the house. 

Some families may want their kids to share bedrooms, while others may like to have separate bedrooms for each to accommodate different study and play time. If you have got regular visitors for any length of time, it is nice to have a bedroom which is designated as a special guest room.  

Bathrooms  

You must decide ahead of time how many bathrooms you prefer. Older homes might have just one bathroom, and there are chances that the buyers often look for more bathrooms.  

If the house has only one bathroom, make sure you can live with that arrangement if remodeling is not feasible. New homes generally have two or more bathrooms, but some bathrooms might not have a shower and a tub.  

The size and style of a bathroom are also important factors that you must take into consideration. 

The Kitchen  

The kitchen is the heart of every home. This is the place where food is cooked, of course, and is the centre of the house. The homemakers may have to spend a considerable amount of time in the kitchen area so it is important for you to be clear on whether you need a large amount of gourmet kitchen with a lot of counter space, storage, and sinks or just a normal kitchen will suffice. 

Every family has different ideas and requirements when it comes to the kitchen area so it has become important to look into every single space before buying a house.  

The Age and Style of the Home 

Appliances are expensive and involve a whole lot of processes to replace. It is better to take the time to estimate the age and condition of each appliance. You might have your own strong preference too. For example, you may enjoy cooking on the gas stove and might even dislike using an electric range. For some people, these types of differences can be a deal breaker. If your preferences are also the same, let your realtor know about it.  

A typical kitchen will have many appliances. If there are any that you cannot do without then check to see if the home provides that convenience or that there is room to add it later.  

Some appliances might be easier to add than others such as microwave compared to a dishwasher if the space is limited. 

You can check the washer, water heater, dryer, and water softener as well as the furnace or boiler, air conditioner and the humidifier.  

If the house has fireplaces or the wood-stoves, it is good to know if they have been maintained properly. 

You can also make an educated guess at the age of the appliances, and later on your home inspector can report on it. When looking at the home, do not assume that all appliances will stay with the house itself. 

You must check the property listing to see what is the part of purchase and what is not. If most of the appliances and mechanical systems seem dated, you must look into the replacement cost.  

The Age of The House 

How old is the house you are going to buy is another important factor. If you are only interested in a newly constructed house, then check the age. However, if you are willing to look at the houses that are just in your price range and meet your basic requirements, then you may see homes from several decades. 

Older homes may have a character that appeals, and these may even need more upgrades and repairs. 

Building codes change over the years so it would be great to have basic knowledge of some of the above-mentioned differences when looking at the homes built under different set of rules.   

The real estate agent you hire will know answers to all the above questions so ask them before taking any big decision.  

The Pricing  

Needless to say, even before looking, you should determine the price range and get pre-approved for a loan. Buying a single-family home is a huge investment, and there is always more to it than just the price. Think about how all the costs will affect your finances and then stick to the decision on a particular price range.    

Seller’s Incentive to Sell 

When looking for homes, you will find that some vendors are more motivated than others. Many people place their home on the market but they don’t really care if it sells or not. If not, they stay happy for their house not being able to sell. With the sale of such a home, there is usually not much wiggle room on the price. 

There are times, however, when a vendor is really motivated to sell the house. This can be because of many reasons such as real estate sales, job relocation and the need to move out of the state.  

Maintenance of the House  

Unless you are buying a newly constructed house, there is generally quite a list of potential maintenance items. When looking at the house, you should make a list of things that can help you in making such a big decision.  

 

The house might need repairs, large or small, replacements or additions that would convert the house into a home. 

Some items can be cosmetics, and others might take a lot of time and money to complete. Is it a reasonable list or if it presents a financial crunch? You must stay true to your priorities to find the right home. Location, bedrooms, lot size, bathrooms, and the kitchen areas are as important to your enjoyment of the home as they will be during the resale. 

Understanding the age, style, condition of the home, appliances and components will help in determining the amount of work you will need to maintain it over the years. 

 

Once you are aware of it, you will be able to look into the possible price offers that will make your investment worthwhile.  

Also, you will be putting in a lot of time and effort to look for a perfect or close to perfect next home. So, make sure you tap into the knowledge and support of your real estate agent, mortgage professional, and the home inspector.  

For any assistance regarding home buying, contact Manny Singh, the best real estate agent in Hampton Park.