Checklist for Buying a House

Checklist for Buying a House

Finding the ideal house for you and your family can be a long and tedious process that requires a lot of time and effort. HereĀ is a checklist for buying a house for the first time.

1)Location, location, location

If you have a long-term job or run a business that takes up a lot of your time, then the house you buy shouldn’t be too far away from your place of work so that going home (or getting to work) isn’t a tiring task.

Proximity to a good school is important if you are a parent. Always look up nearby schools before you splash the cash.

It also shouldn’t be situated too far away from social amenities like grocery stores and what not. The area should also have good security and shouldn’t be too close to busy roads or railway tracks; these areas are usually quite noisy.

2) Room for expansion

Your needs for space grow with time, especially if you are a young family; and moving every time you need more room is costly and hectic. Therefore, the house you buy should allow you to easily and seamlessly add more living space when you need to.

3)Good neighbourhood

A house is only as good as the neighborhood in which it is located. You wouldn’t want to live alongside noisy and stubborn neighbors no matter how perfect the house is. Therefore, ask around first (do some door-to-door research if you must) to get the feel of the place and the people before you write that check.

4)Age of the house

Check whether it has modern air conditioning, piping and electrical systems as some old ones are known to be fire hazards. Old houses are susceptible to rot and termite attacks. Septic systems among many other things in an ordinary house have a lifespan and need to be replaced every so often. A house that is too old will need a lot of maintenance work and cost you a lot of money in the long run.

5) Buy what you can afford

You don’t need to spend too much money to acquire a homeĀ that will leave you drowning in mortgage debt to get the perfect home. There are really good houses out there with a reasonable price tag and you can easily remodel to get exactly what you want. Do not buy to impress.The only person your house should impress is you.

6) Market Value

Although you’re always looking for a place for the long term, you never know what the future holds. Buy in a prime place whose value doesn’t depreciate in the real estate market so that when you need to cash out, later on, you get back all your money.

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