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10 Important Factors To Consider When Buying A New House

Buying a house can be daunting. It is a huge move after all. There are many factors that need a careful and thorough analysis prior to reaching a decision about which house to buy. Even before this comes the decision regarding buying or constructing.

To sum it up, there are countless decisions to be made when thinking about a new home and land acquisition. Here are some factors that should definitely be kept in mind:

Location

Investing in a good location will always pay off. Even in times when the real estate market hits a dump, good locations maintain their standing. It’s important to understand that you can make as gorgeous a house as you want, but if the location isn’t up to the mark, there’s nothing you can do about it.

In short, you can change an ugly house to make it look astounding, but you can’t change the location. So always invest wisely in good locations that are sure to stay profitable in the long run.

Another thing to be kept in mind here is the commute time from your choice of location to your workplace. Ideally, this should be as minimum as possible to save both time and money!

Neighbourhood

Next up is the neighbourhood you’re thinking of buying a home in. Assessing a neighbourhood can be a tricky thing to do. But don’t you worry, we’ve got just the trick for you!

The easiest way to assess the suitability of a neighbourhood is to meet the people who reside there. Take the time out to go and meet them, visit their families, see what the lifestyles of these people are. Neighbours are really important in deciding where to live. A pesky neighbour sure can make your life hell. But a good one can be your shoulder to lean on!

Timing

Selling and buying property requires that you have considerable time on hand. Rushing into decisions, especially ones as huge a buying a house, is a really bad idea. There are so many facets to this decision such as how to finance it, how to manage it and so on and so forth. These questions require careful deliberation and assessment.

Schools & Colleges

While this may not be a concern for everyone, schools and colleges located nearby is a tremendous apprehension for many. Good quality schools located nearby can make your life really easy knowing the commute is short and your children are getting a great quality education!

Oh, and not to forget, it also lends better potential for capital growth of your property! Another advantage of choosing a neighbourhood with good schools is that should the need arise, it’ll be easy to rent out your property.

Size

It’s really important to be practical about decisions as big as buying a new home and land. Before deciding on the size of your future home, consider the following points:

  • How many bedrooms do you need?
  • What are the areas that you want to focus on? Perhaps a bigger kitchen would be preferable to bigger rooms? Do you want a huge bathroom or do you want a separate walk-in closet instead?
  • What kind of storage would you need? A whole garage or just closets would do?
  • Are you planning to grow your family? Adopt a pet?
  • How often do you entertain?

All of these things should be factored in when you think about the size of the house you need. There’s no going back once you have a house and then realizing that it doesn’t quite fulfil all your needs.

Infrastructure

Infrastructure refers to basic yet indispensable things that hardly ever register on our minds. Before deciding on an area, check if their water supply is uninterrupted, road/train networks and other basic amenities such as lighting, telephonic connections and the like are proper.

Crime

For your own peace of mind as well as the well-being and protection of your loved ones, considering crime rates of the area is an important yet often neglected task. A lot of this information is readily available online as well.

Green Open Space

Not only are green open spaces pleasant for the eyes, but they’re also important for health! A beautiful environment with good landscaping and plenty of trees can have a positive impact on health, morale and can also lead to increased desirability and therefore good investment potential.

Maintenance

Never buy something you can’t uphold. For all intents and purposes, the house you acquire is dependent on you to maintain it in good shape, and this doesn’t come cheap. Take an estimate from several experts to ensure you don’t get nasty surprises later on!

House Inspection

This is particularly relevant in case you’re buying a pre-owned home. A house inspection can reveal all the secret flaws that might cost you big bucks in the future!

This list is by no means exhaustive, but will give you a good start!

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