4 Things to Research Before You Buy a Home
05/04/2012 11:33 AM
While house hunting for the first time, you can easily get overwhelmed by the things you need to consider. While some of these things might be obvious, some might not be so apparent. Take a look at some commonly overlooked things that should be researched before you buy a home:
If your family (and home) have the potential of growing in the next few years, you'll want to look into any possible limitations set upon by your property by a community association.
Restrictions can range from minor exterior changes, such as the home's paint color, to larger impediments, like limitations on outbuildings (e.g. a guest house) or garages. These stipulations can make it difficult to expand your home to accommodate an expanding family unit.
Even if you don't have children, they might be in your future. So you'll want to be sure to look into things like schools and recreational parks, along with other things for kids and adults, like public transportation and proximity entertainment.
While some of these may not seem outwardly important at first, they contribute to heightened housing market values in the community and affect whether you're satisfied with your home purchase. According to the NAR, about 50 percent of buyers found that the "convenience to work was [only] the second most significant factor" when considering home locations.
For 2 more important things to look for, head over to US News' 4 Not-So-Obvious Things to Research Before Buying a Home.