UCCU14-172What To Look For When Buying A New Home
When you’re in the market for a new home, there are so many things to consider. You want the right size, a layout that fits your needs, curb appeal, good schools and a great price. While you’re keeping all of these things in mind, we’d like to suggest a few additional points to consider. These factors may make a difference when you’re considering turning that house into your home:
Talk to the neighbors before you become one of them. Are most of the families on the block homeowners or renters? Is there a neighborhood association and, if so, how active are they? Ideally, you want to be surrounded by people who care about the safety, appearance and improvement of the community as much as you do.
The Home’s History
A thorough review of the seller’s disclosure statement will help you avoid potential problems in the future. Does the basement flood in heavy rains? Do tree roots pose a threat to your sewer lines? Is the shower in an awkward location because prior renovations revealed a structural impediment to more convenient placement? Wherever possible, get receipts – or at least cost estimates – on what was done. This may help you know whether the steps taken to address any problems were real solutions or just temporary fixes, and you can take appropriate measures.
The Home’s Present
Every home has its quirks, but some of them aren’t visible during a standard property showing. You should hire a reputable inspector to evaluate the property for structural issues, code violations and other potential problems. Remember the bright side: knowing about these issues can help you negotiate a lower price. Strongly consider getting inspections, too, for lead paint, radon and wood-eating pests.
The Home’s Future
Sure, you can picture your family living in your new home, and you can foresee the memories you’ll make there. But what you need to research is what the future may hold for the area your home is in. Look into the zoning, as well as any easements, liens or restrictions relating to the property. Also check into newspaper archives and look into any proposed projects or negative issues that may be in play.
The Home’s Real Costs
Gorgeous landscaping and high ceilings may be on your must-have list, but the accompanying high utility bills probably aren’t. You can request an audit of the last year’s bills from local utility companies to determine monthly costs. You should also research when the home was last assessed for property taxes, and find out if the schools are funded through property taxes. Regular hikes there mean regular increases in your mortgage payment.
Though there may be many issues to consider and questions to ask about your potential new home, there isn’t any question about where you can go for the best local mortgage service. United Consumers Credit Union provides low rates with terms to fit your needs, along with special programs to help accommodate first-time homebuyers. Visit www.uccumo.com or talk to us to ensure you’re getting the best deal on your new home!
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