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What Are The 6 Most Overlooked Tips For Choosing A New Home?

For most of us, buying our home is likely be the most expensive purchase we make in our lifetime. Because of this, it is very important that you consider all the factors around the home you’re interested in purchasing to make sure that it is a fit for you and your family for years to come.

According to research by The Dallas Morning News and CoreLogic HPI, Texas is one of only five states that are not still seeing a decline in home value. This sign is proof that the housing market in Texas is strong; however, even with a strong market, knowing what to look for when purchasing a house is still a top priority.

Too many homebuyers make the mistake of buying based on the looks of a home or its size, but this can turn out to be a very costly mistake.   

Here are six important factors to consider when choosing your new home.

  • Check the local land and property values of similar homes in the area in order to determine what a fair price would be. Many sellers put too large of an asking price on their home to start; so knowing what to offer is very important.
  • If you have children, check the surrounding area for a number of factors such as the quality of schools, outdoor activities and playgrounds, community events, and easy access to things like libraries and community centers.  Remember that homes located within desirable school districts generally appreciate faster than homes outside those districts.
  • Make sure that the area you are interested in has an acceptable crime level. You don’t want to move into an area that struggles with public safety issues.
  • To some homeowners, a Home Owners’ Association (HOA) is a blessing. To others, an HOA is a nuisance. If there’s an HOA for the neighborhood you’re looking at, find out the monthly fee and what services it covers. Then get neighbors’ opinions on the HOA if possible and then sit down and weigh the pros and cons of signing up for an HOA neighborhood.
  • Check into the local laws before you buy. For instance, if you have children that like to do sparklers in the summer, some areas don’t allow that. Check the local laws to know what you’re able to do at your new home.
  • Check the local economy and nearest major city. In the event you lose your job or your children get old enough to start working, you want a good job market available to get your career back on track.

Thursday, July 24, 2014