Business & Finance

5 Things to Look Out For When Buying a Home


Buying a home is a symbol of stability for most people. House hunting is usually stressful and time-consuming, definitely not something you can get done overnight. Not only you need to put down the first payment that you worked hard and saved for a long time, plus a bank load, but also there are loads of factors you need to consider, such as condition, location, surroundings, orientation and proximity to amenities. Let alone the work and expenses that renovation projects might cost after buying it. The whole thing could an overwhelming process without saying. However, don’t panic just yet, there are many blog posts floating around online to help you understand the issues you might encounter and the factors you should not miss while buying a home. If you are looking to buy a home, you are in luck and in the right place. Here we provide home buying insights that you likely won’t get somewhere else.


1. When Offer a Price, Take What You Will Need to Spend in to Account

House saleUnless you are going to buy a fully furnished new home, there are always renovation projects where you need to modify the home afterwards. Renovations equals to costs. Have a clear picture in head about what you will need to spend on renovating it and offer a sensible price when buying a home. You don’t want to buy a house on the road with value of $ 750,000 that you might have to spend $200,000 to renovate.


2. Get Experts’ Opinions

It is a good idea to visit a house with an impartial builder or architect and get an idea of the costs the works might cost. Try not to get family members or friends involved because they are usually too emotionally invested to give you honest advice. Listen to the advice received and do your sums and be prepared to walk away when it is not the right fit.


3. Don’t Neglect the Importance of Off Street Parking

Look ahead and think ahead when buying a house. You might not have children yet but you might in a few years’ time. Just imagine this, struggling to find a parking spot off the street with bags of groceries and a toddler. Not fun, right? A bit of walking might be great for health if your house doesn’t have an off street parking, but might not be convenient for situations where you are carrying stuff.


4. Look Around in the Neighborhood

Location, location, location, I can’t say this enough. Whether there is public transport, school or medical service in the neighborhood have an impact on your home. Take your specific need and what is around on board and make the best decision. You can do everything you want with a home over time but there is nothing you can do with the surroundings.


5. Look Out for Health Hazards

Health HazardsCommon health hazards that an old home might contain are asbestos and lead paint. Asbestos is a natural-occurring substance that could cause lung cancer, and lead paint is particularly detrimental for children’s development. If the house you are looking at is an old home, you should have inspections for these 2 substances. Have professionals to do an asbestos removal or lead paint removal project if necessary. Take into account that these 2 projects add up quite a lot of costs.



Jon Mills

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