When Looking at a Property
You’ve reached the touring stage of buying a home: you’re face-to-face with what could be your new home. Exciting! Here are some key things to consider when shopping for a property, some of which are often left out of online listings:
Location is a deal-breaker for some homebuyers, but you may also want to consider where a property is located within a neighborhood. Consider how long it takes to get to area schools, restaurants, stores, highways, etc.
2. HOA Fees
Homeowners Association fees can vary by property, so you can’t assume another property listed in the same neighborhood has the same fee.
3. Bedroom Sizes
5 bedrooms in a 2,500 square foot home may feel a lot more cramped than 3 bedrooms in the same amount of space. Consider square footage per room rather than simply the number of rooms for a more accurate picture of the space.
4. Age of Roof
Some older roofing materials simply weren’t built to last. Take note of the home’s age and whether the roof has ever been replaced. This may help you determine if you may have to pay thousands of dollars for a new roof in the near future.
Newer asphalt shingle roofs typically last 20 to 40 years.
5. Storage Space
Even though closets and cupboards may be included, a home’s layout may not accommodate for much extra storage. Depending on what you own, you may need more storage space under the stairs, in a garage, or in a loft.
6. State of the Windows
Are the windows uninsulated? Do they appear to be wearing away or showing signs of condensation between the panes? Consider the potential cost of replacement and how much those windows would be upping the home’s energy costs.
Replacing windows for a home may cost anywhere from $300 to $700 per
7. Age of Appliances
If your potential home’s appliances are be more than 10 years old and showing obvious signs of use, you may want to factor in how much it would cost to replace them.
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