Buying a home is the largest investment many people will ever make. It is one that should be approached thoroughly and thoughtfully. You want to find something that is suitable now, but also that can accommodate your needs over time. Asking these four questions can help you narrow the selection of possible properties.
1. Where Is It Located?
Even if a home seems perfect for you, it’s location can become the main deciding factor on whether or not it is a good purchase for you. In order to know if you are in the right neighborhood, consider things like surrounding home values, access to transportation routes, and proximity to work, school and recreation.
2. Are There Any Property Restrictions?
Some types of property have legal restrictions that can affect how you use them. Many restrictions are designed to maintain the character and appearance of a neighborhood. It might be a good idea to talk with a real estate lawyer Ashburn VA before buying a condominium, townhouse or a single-family home in an HOA-deeded neighborhood.
3. Does the Home Meet Your Needs for the Foreseeable Future?
Be honest about what you want in a home and how you plan to use it for the next several years. If you are only planning to stay for a couple of years and then move onto something larger, will it still fit your needs if house values crash and you have to stay for longer? If you are planning to make this your last home purchase, will it accommodate age-related adaptations?
4. How Old Is the Home and Its Major Systems?
A final and very important question concerns the age of the house in question. Many people choose newer homes to capitalize on modern construction techniques, but older homes can be a great buy, too. They tend to be built very sturdily, but replacing heating, plumbing or electrical systems can be costly if necessary, so you will want to have those inspected — and possibly replaced — before signing a contract.
Asking questions during the home buying process helps ensure you find a home that works for your needs now and into the future.