When making the decision to switch from a renter to a home buyer, new buyers need to consider the following

Gayla Allen

right from the start.  

Should I keep renting or should I buy?

This is an obvious first consideration. Before you invest your savings in a home, decide if you can make more money renting and/or investing in a home. Run the numbers and look at your bottom line.

Buy to Sell

Many features in a home that may be desirable to you may not make a difference when you try to sell the house. In fact, some features can subtract from the value of your home thereby jeopardizing your equity. An example is a swimming pool. Depending on your neighborhood, state, or the needs of a buyer this can be a negative factor to the value of your home. When you're buying, make sure you have an exit plan.

Walk The Neighborhood

When you first view a home, make sure that you see it during the day in order to see how well lit the home is and to see all the features easily. In addition, you should return several times during the day, evening, night, and week-ends. You don't have to view the home at these times, just take a walk or drive around with your windows down. You will learn a lot about the people living in the neighborhood including what may be important information to you regarding their pets.

The Public Schools

No matter if you have school age kids, you'll want to find out about the area's local public schools. High desirable school districts have better selling markets, and you will typically find home owners that stay in their homes longer. This creates a higher valued neighborhood.

Environment in the area

Ask your realtor to run an environmental check on the areas your interested in buying. You'll want to know about any hazards that may effect your health or sellability of your home.

Home Owners' Associations Fees

Find out if your neighborhood as any Association Fee's. It's becoming more and more popular in newer developments. Make sure you know exactly what is covered in the fees and get a copy of the contracts and read the fine print. Most are very strait forward, but you want to be as informed as possible.

CC&R's (Covenants, Conditions, and Restrictions)

Many suburbs have restrictions and limitations to remodeling, landscaping, and many other additions or changes on and around the property.  Most bylaws, covenants, and design guidelines protect the unique environment and aid in maintaining high property values for homeowners. Many people favor these guidelines, but it's not for everyone. You'll want to know about them if applicable. This is just a small list of things to consider for anyone buying a home. New comers in the home buying market should study suggestions, talk to friends and family, and then choose a realtor who is willing to answer all your questions.

 
This post has been included in Utah Information

0 Comments on First Time Home Buyers Check List

Leave a response…



(optional)
What does the graphic say?
 
Rainmaker_large

Gayla Allen

Riverton, UT

More about me…

Red E Real Estate

Cell Phone: (801) 560-9830

Email Me



Links

Archives

RSS 2.0 Feed for this blog

Find UT real estate agents and Riverton real estate on ActiveRain.