With mortgage interest rates at all-time lows, more people are running to buy homes—and understandably so. If you plan on living in the home for a long time, buying a home is one of the best investments you can make. Unfortunately, buying a home is like buying a used car—you never know if you’re getting a lemon, only a house would be one expensive lemon. We’re going to help you take everything into consideration when you’re buying a house. If you’d like to learn some key things to keep in mind when buying a house, read our guide below.
There are a few things to keep in mind that don’t directly involve the home at all, such as economic factors like interest rates, which we already mentioned. Economic factors are obviously important, but other external factors that some people mistakenly overlook include the neighborhood and local attractions. If your home is in a questionable neighborhood, the price might be attractive, but that’s because no one wants to live in the area. In other words, you’ll probably run into some skeptical buyers when you try to sell the home. Additionally, if you have a family, you probably want schools and playgrounds nearby. Other external factors that can indicate the home is a good buy include nearby shopping, dining, and community events.
The exterior of the home
Don’t forget that unless you want to hire a landscaper, you’re responsible for maintaining the yard, so make sure you consider the size of your lot. Take a good look at the siding and roof and take note of any damage. You also should look closely at any decks or patios to see if the surface is in good shape. Keep an eye out for cracks in the concrete, rotting or worn-out wood, and peeling paint, as they likely indicate a repair in your future.
The interior of the home
Several rooms of the home draw the most attention: the living room, kitchen, bathrooms, bedrooms, and basement. Anything else is a bonus. The kitchen is one of the first rooms people take into consideration when buying a home because, well, it’s the kitchen––they’re going to spend a lot of time there. Obviously, the bedrooms, bathrooms, and living room need to comfortably fit you, your family, and guests if you like to entertain. However, far too many people overlook the basement. If you’re looking at buying a new home, chances are the basement is unfinished, which means there’s some work you’ll need to do.
There are plenty of other things to keep in mind when buying a house, but we highlighted the most important aspects. Whether you’re single and living alone or a family of five, everyone has different needs when it comes to a home. All things considered, if the home suits your needs and you’re willing to put in the work to maintain it and make any necessary repairs, go for it.