Buying?
- Buying Your Home
- Choosing the Right Home
- Consideration When Selecting a Home
- Location, Location, Location
- Economic Stability
- Local Government Services
- Schools
- Property Taxes
- Property Value
- How Do I Choose the Right Neighborhood?
- Ready to Purchase
- What is a sellers' disclosure?
- What is homeowners' insurance?
- Moving Checklist
Consideration When Selecting a Home
Property Taxes
For many people, this is an often overlooked factor. However, when buying a home, property taxes are nearly as important an issue as the selling price of the home! Some cities have property taxes in upwards of $20,000 that may not only hinder you as the buyer, but also will most likely draw concerns when you attempt to sell your home. To simplify your research you can use the links in our Resource Center. Safety is also an important factor. Does the neighborhood appear to be safe to you? Check to see if there are bars on the windows or if you hear alarms going off. Don't forget to ask the local police department about crime statistics in the area. Make sure to visit the neighborhood at night. After all, you want to know that you and your family will feel safe walking the streets even when it's dark outside. Next, you may want to consider the character of the neighborhood. Are there many families around or is it mainly senior citizens? Talk to the neighbors and inquire about the churches, temples, and schools. This will help you gauge the types of people who will surround you and learn valuable information at the same time.
Property Value
You should take the time to examine real estate records to see how high the property value is. Always remember that location is the single most important factor when valuing a home. If the home you are interested in a home which is more expensive than others in the neighborhood, it may not retain its resale value. Other factors to consider include your proximity to shops, parks, libraries, highways and other forms of transportation. Research the school districts. Remember that homes in better school districts may have higher taxes, but they have higher property values as well. In short, take the time to really think about your personal priorities and look for a home that suits your needs accordingly. Now that you've narrowed the playing field, you're ready to begin seriously looking at homes. Obviously, you should always keep an eye out for any defects or damages. Take notes so you can review them later and make comparisons to other homes you will be viewing. Write down the room measurements and draft the layout so you can figure out how your furniture can best be arranged. Make sure to ask plenty of questions. After all, the current owners know more about the house than anyone. If you are interested, arrange for another visit and bring a list of questions about the property and the neighborhood. Pay close attention to the manner in which the seller answers your questions - is he/she acting defensively or trying to hide something? You'll be amazed at how much you can learn from body language or how the seller responds.
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