When you’re looking for a new home to purchase, you can literally spend hours upon hours house hunting, reviewing listings, speaking to agents, ultimately getting nowhere in your search. Surely the home of your dreams has got to be out there somewhere.
8 Things To Consider Before Buying A New Home
Finding the home of your dreams can be daunting, but it is possible. And it is possible without making making major sacrifices, too. I remember when I was house hunting a few years ago, I had looked at several homes, including one that was a definite possibility. But before we were through checking out homes for the day there was one last house: A quaint Cape Cod-style home that was listed as "a dollhouse--must see to appreciate". As soon as I walked in the door, I just knew it was perfect, and I had to have it. But the asking price was so low, there had to be something wrong. Faulty boiler? Leaky roof? Damp basement? Nuh-uh, nothing. The sellers were simply motivated.
We had a home inspection performed which verified the sellers' claims. There was no major work to be done on this home, it passed inspection with flying colors and I got the home of my dreams for a song. Much like my experience (and every other home buyer's), there are some very important things to think about before you hand over any money or sign any documents toward your home ownership. Here are 10 things to think consider before you buy a new home.
#1: The Cost Of Any Potential Repairs
If your home inspector decides that the house is need of repairs, then you'll need to provide the seller with a few different quotes, so they can factor the repair costs into the final selling price.
#2: The Home's Exterior
As mentioned, a home inspector will point out any repairs that need to be performed on the property before he gives his seal of approval, and this goes for your home's exterior as well. However, you have to take into consideration what your house is cladded in. Vinyl siding will last longer than wood shingles and brick and stone may last longer than vinyl siding. Wood-framed windows almost always need upgrading to vinyl. And a wooden deck can splinter and become rotten. Be sure to check out the roof, and take into consideration its age.
#3: Your Style And Taste
Before you move into a home make sure you'll be happy with the architecture. Is it a style of home that you can live with for what could be the rest of your life? If you gravitate toward a more modern style of architecture, changes are you won't be comfortable living in a home full of wood floors and shiplap walls.
#4: The Insulation
If the house you’re looking at doesn’t have adequate insulation, then chances are you're going to pay extra on heating and cooling bills, not to mention the increase in your carbon footprint. Make sure you speak with your home inspector on just how adequately insulated your home is, including the attic, basement and all windows.
#5: The Moving Costs
If you're lucky and moving for work, your company may allow a stipend for your moving expenses. This is a HUGE help when it comes to hiring movers and purchasing packing materials. But chances are you're just moving house on your own accord, and for this reason you'll have to think about factoring moving costs into your budget.
#6: The Storage Space
When choosing a new home, be sure you have a wish list of items you want your new home to have. This might include hardwood floors, a fireplace, a swimming pool and the like, but most importantly, your wish list should include adequate storage space. And we're not just talking about an attic or a basement. You need to make sure that there are plenty of closets, shelves, kitchen cabinets and perhaps a pantry sufficient enough to meet your needs.
#7: The Sunlight
While it may seem like a strange thing to check, it’s important to see which rooms are north and south facing. This allows you to see what areas of the home receive the most (and the least) sunlight. For example, if you have a sunroom but the room doesn't receive enough sunlight, then this space would not be appropriate for plants and flowers.
#8: The Neighborhood
There may be a chance that you'll find the perfect home, but it’s just not in the right area. Perhaps there's an ugly cell tower blocking an otherwise beautiful view, or a nasty smell emanating from a treatment plant nearby. Be sure to drive around the neighborhood and get the lay of the land before signing on the dotted line.
Keep these 8 items in mind when shopping around for your dream home to help you in your decision making process. Is there anything else you'd consider? Let us know in the comments below.