Buying a new home is a significant investment and it's best to get it right the first time. To achieve this, it is important that you take into consideration lots of important factors before signing on the dotted line. Many people, in a state of euphoria and excitement hurry into making decisions that they later regret. There are many important elements involved in purchasing a home that need serious consideration to avoid long term remorse. Here are some important factors to consider when you are looking to purchase a home. The Condition Of The home The condition of the home you are buying is very important as it should be a true reflection of the purchase price. Here are a few specific issues you must keep an eye open for.
- Start in the kitchen, make sure all appliances are functioning. Make sure the integrity of the kitchen cabinets are intact. Turn on the tap and leave it running for a few minutes to make sure there are no problems with the drainage system.
- What is the capacity of the hot water system? Is it sufficient for the needs of the entire family? Check for leaks, rust and aging indicators. Be careful with this as repairing a hot water system is quite expensive.
- Examine the walls carefully, were they recently painted? If so, do not be deceived, a fresh coat of paint could be masking existing cracks in the walls resulting in an investment of thousands of dollars to repair.
- Tap the walls to perform a preliminary termite infestation check. You may need the services of a professional to do this for you.
- There is no harm in negotiating as much as possible, push as far as you can. Some individuals hire a negotiator for this, as cool as this may seem, it may not be the best idea as you are the only one who can effectively communicate your needs. It is recommended you do the negotiation yourself. You will be amazed at how much you can save.
- Make sure you are familiar with the entire terms and conditions. What is the down payment? What is the payment plan? Are you comfortable with it, what is the interest rate? You must be familiar with all these factors before signing on the dotted line.
- It would be nice if you had a little insight into the history of the building. How do you go about this? Ask the neighbors, do your due diligence. Inquire about previous owners, ask about recent renovations, get a feel for the vibe in the neighborhood. Get as much information as possible, in short learn the story of the house before making it your home.