What You Need To Know Before Buying A House

Filed in Buying a Home on Sep.04, 2009

You were just surfing the net and you saw a picture of this unbelievable house, the perfect house. You know it’s the house you want to buy and live in forever. Slow down. Just because the house looks good on the web, doesn’t mean it’s your dream house. There are a lot of questions to ask and things to consider before taking on the responsibility of a home.

If you are buying a home for the first time you should take the time to learn something about real estate. Make sure you understand the terms of real estate contracts and mortgages. Don’t buy a home that costs more than you can afford to spend. Make sure the house doesn’t need expensive repairs.

Look around the area and see if the neighbors have pride in their homes. If other homes in the neighborhood aren’t well maintained, it affects the value of the houses that are maintained. Fancy areas carry fancy price tags. If the house needs repairs see if the seller will complete them before the sale.

If the home need repairs and the seller is not willing to complete the repairs, you may still be able to buy the home. Try to use repair issues to leverage for a lower price. The mortgage company may require an escrow for major repairs, so if you can’t put up the money you may be unable to get a mortgage. The most important areas of the house to check are the basement and the roof. Look for evidence of leaks or flooding. Mold can be a serious and expensive problem.

In the kitchen, check how many appliances are there to estimate if your appliances can fit in without additional outlets; check the floor, is it level or does it shake? Inspect the floor for stain — can these be removed with the usual cleaning mop and cleansers? If the sink top is marble, examine if it needs to be re-polished. Inspect the plumbing. Are there leaks? How about the tap water? Does it run well or drips?

Next to the kitchen, the bathroom is the most expensive room to remodel. Is the bathtub and shower clean and in good repair? How old is the hot water heater? What about the sink and toilet? Any cracks or discoloration? Have the home inspected by a professional who can check the plumbing and electrical systems.

Always take the time to look in the attic. Check to make sure that the attic is properly insulated. Look for any sign of roof leaks. Even roofs that look okay can have leaks. Attics need to be ventilated. Is there a fan? Windows? Other type of ventilation? Examine the windows and doors for fit and make sure the exterior maintenance is up to par.

After the interiors and the exteriors, check out the neighborhood. Do some research about the crime rate in the area. Is your house vulnerable to break-ins? Is the next neighbor a mile away? Are the houses crammed into a little neighborhood? After visiting the house on a nice sunny day, visit it on a rainy day to see how it fares. If there’s no problem, then make a deal according to the mortgage you can afford.

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