Vital Aspects To Look For When Buying Your First Home
Before you become a homeowner, you need to be aware of a few vital aspects that will help determine the value of your property and surrounding community.
Are you about to enter the wonderful world of homeownership? First and foremost, congratulations! Making this investment is a tremendous, monumental experience in every person’s life.
However, the process of finding your first house isn’t so easy. There are lots of pitfalls that many first-timers encounter when shopping in the market. So here are some vital aspects to look for when buying your first home.
Outside of the house itself, the surrounding neighborhood is one of the most important factors to be aware of before purchasing. The concept of “first place, second place, third place” determines the value of your community. Your “first place” and “second place” are your home and workplace. You visit these areas almost every single day. The “second place” can also include the local school your kids will attend.
The “third place” includes all other recreational and retail entities. So what parks, entertainment places (like movie theaters), and stores are in your neighborhood? If you have an abundance of “third places,” the chances are that you’re moving into a great community.
Your “first and second places” are obviously as important as “third places.” Since you spend most of your time at home and your workplace, you want to ensure an easy commute that doesn’t add extra stress to your daily life.
When looking at homes in a particular area, you should practice commuting to your office and nearby stores. Try doing this during peak traffic hours, such as 7:00 to 9:00 a.m. and 4:00 to 6:00 p.m. If you have children and need to pick them up from school each day, consider this as well.
What is the trend for your local Arizona market? Are you purchasing a house significantly better than the surrounding residential buildings or single-family homes? Do properties tend to increase in value over 5 to 10 years?
These are all aspects you must consider before signing on the dotted line. The state of the local market will determine whether your home is a wise investment. Look into your area’s home values and consult your real estate agent to gather this information.
Property Damage and Risks
You’ve now decided whether you like the surrounding community or not, so what’s next? It’s inspecting your new home, of course! While most first-time buyers look at square footage, bathroom and bedroom totals, and amenities, you should fully scope out the property’s and landscape’s physical conditions.
These aspects are among the most influential factors that determine the value of your home. If your home is at a low elevation point, you must ensure you figure out if it’s in a flood-prone area. Check the exterior and interior of your home and look for signs of foundational damage. Cracks and separation in walls and cabinets are a dead giveaway for issues.
These vital aspects to look for when buying your first home will make the purchasing experience far less stressful. Ensure every factor is to your liking, and enjoy your very own humble abode!