Buying a residential home is a big decision. Unlike leasing a home, you may have to spend the rest of your life in the home you buy. Thus, it is advisable to make a very thoughtful decision to avoid regrets. Most people focus on the house features to make a house purchasing decision. However, non-house factors also affect your choice. Here are the main non-house factors to consider when purchasing a residential home.
The importance of a property location cannot be underrated. Ordinarily, consider the proximity of the house to your work or business locations. That way, you will reduce the time and costs of traveling to work. Again, decide whether you want a home located on a busy street or in a less busy suburban area. Notably, the location also impacts the cost of the residential home. For instance, homes in urban, higher-class neighborhoods will attract a higher asking price. Moreover, check the connection to necessary infrastructure like roads, electricity, and water systems.
There is always a reason for the sale. Some sellers may do it for strategic reasons such as making a profit. Yet other sellers have more random reasons like relocation or paying off a mortgage. In other cases, the seller may sell because the house has high maintenance costs or is in a state of disrepair. Whatever the motivation is, the information will enhance your negotiation power when closing a deal.
It is essential to assess the neighborhood of a residential home for sale. For starters, find out if there are zoning issues. For example, a mixed-use zone would have both residential and commercial properties. Then, check out whether the neighborhood is family-friendly. You should also find out if there is a homeowners association in the area. Such associations may have regulations on house renovations and the use of shared amenities like playgrounds.
The availability of social amenities in a residential neighborhood is critical. Therefore, make sure to look at the social amenities near the house. For instance, you may want to buy a house near quality schools for your children's learning needs. More so, the proximity to a hospital would be strategic in case of medical emergencies. Social amenities can include open spaces and green fields, which enhance the view and quality of life. Primarily, houses served by multiple social amenities will have a high resale value.
Crime is a social phenomenon that varies with location. Therefore, take time to check out the crime rate in the neighborhood. You can discuss this issue with your agent or do an online search. Besides, check for security features such as proximity to police stations and neighborhood security measures. Living in a secure area will enhance your safety and reduce insurance costs.
In conclusion, there is more to a residential home for sale than the house features. Make sure that you consider the location, neighborhood, safety, and social amenities of the property on sale. Also, consider the motivation for the sale.
Contact an agency like The Walski Global Team at Keller Williams Hudson Valley to learn more.