FACTORS TO CONSIDER WHEN BUYING A FAMILY HOME
- FACTORS TO CONSIDER WHEN BUYING A FAMILY HOME
Buying a home for yourself and your family is a proud moment in most people’s lives. The years of hard work and savings is finally culminating into a secure home for your loved ones.
Buying a house is a major decision and even before getting there, you should weigh your option whether to build from scratch or buy an existing one. Any rush decision or miscalculation from you end could see you lose all your life savings.
There are number of factors to consider before buying a home if you want to get value for your money.
Buying a family home is investing in the security and future of your family, and like any other real estate investment, location is key. The location of property will influence the cost and how much value you are getting for your money.
The location of the house will tell you if the seller is giving your money’s worth or if the deal is an absolute rip-off.
As a home buyer, it is also important to consider your family requirements, your budget and the cost of property while making a decision. Homes in upscale neighborhoods usually cost significantly more than those in less affluent locations. So, for instance, if you have a modest budget but you want a bigger house, then it would financially smart of you look in areas where the cost of property is a bit affordable and in line with your budget.
The home will not however get you much is resale value should you decide to sell in future for whatever reasons.
The security of the neighborhood you are moving into should be a top priority when considering buying a home. Homes in crime-ridden areas will fetch low prices because they are in less demand.
You should look into the security features installed in and around the home like electric fence and surveillance cameras. If it is furnished house or apartment you are buying, ask for the warranty certificates for some of the installed appliances so you can get them easily repaired or replaced should they break down immediately you take occupation of the house. If that was in the agreement, look for Choice Home Warranty Bbb for some guidance on companies that provide such services.
The infrastructure of the neighborhood where the house is located is another important factor to consider before settling on a home to buy.
Should drive around the neighborhood to assess the road network, drainage, network signal strength and other facilities that should make your life residing their easy and convenient.
If you have children then you will need schools for them to attend, hospitals for when they are unwell and a playground area for recreation. Actually, having a hospital nearby is important in case of medical emergencies.
Remember you will need to still have a social life and therefore consider the location of restaurants and hotels.
Also, take into account the distance to the nearest shopping malls.