Some Considerations When Buying

 

This is probably the single most important consideration to keep in mind when buying a home.  In the real estate business, it is said that three things count in establishing property value: location, location, location.

Where is the house located?

Houses may be updated, renovated, and improved, but neighborhoods and communities tend to retain their basic character and market value over periods of time.  Is the home in a safe neighborhood where people want to move, buy homes, and raise families?  Is there access to schools, transportation, and shopping?  Is the area run-down, filled with high crime, or noisy?  Are people moving away to better places to live?  Look for an area where homes sell quickly and easily.

How long has the house been on the market?

It's a good sign if houses stay on the market for less than three months; if it takes six months or more for homes to sell, look elsewhere.  Avoid neighborhoods with a large number of undeveloped lots, abandoned homes, poorly maintained homes and yards, a large number of FOR SALE signs, or mixed zoning (commercial and residential together).

This Homebuyers Tip was excerpted from:

How To Buy A House, Condo, or Co-op, by Michael C. Thomsett and Consumers Union of the United States, Inc., 1996,

ISBN# 08904438331

Buying Considerations | Buyer Tips Main | Home