What To Look For When Buying Real Estate

What To Look For When Buying Real Estate

A recent article by Phoebe Chongchua offers some great insight into what to look for when buying real estate. She explains how although location is very important, there are several other components that should be taken into consideration before a decision to purchase is made. 

  1. Determine a rough timeline of how long you intend to stay in a home. Moving is expensive and if you do not plan to stay in your home for an extended period of time, renting may be a better option.
  2. The job market. Researching the employment level in the area that you are considering purchasing a home is always wise. The lower the unemployment, the more attractive an area is.
  3. Check area vacancies. If the surrounding areas are vacant, this could indicate a slowing market, which is particularly concerning if you are planning to rent the home.
  4. Investigate the crime rates of the neighborhood. It is important to understand the safety of the neighborhood that may become your home and although on the exterior an area may look safe, you cannot always detect this from appearance alone.
  5. Consider the natural disasters that may affect the area of your home. If your home is in a disaster-prone location, insurance will be higher and in some cases additional insurance may be required.

 

Once all these components have been considered, you will be able to determine if this is the right home for you. 


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Phone: 253-988-0180
Dated: July 17th 2013
Views: 629
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