First Time Home Buyers: Location is Key when Buying a Home

As you search for a home you will, of course, want your home to be pretty close to what you are looking for when it comes to the layout, the size, and the yard. But you cannot let your emotions talk you into buying a house if you have not first fully checked out the location of the home you’re about to buy.

You've probably heard that the most important thing to look for in a home is its location ... even if you don't plan to live there a long time. If you think about it, the right location can actually be more important than the condition of the house itself. You can always update and modify the home over time, but there's no easy way to change a neighborhood.

You will need to consider what is most important to you. Are you looking for someplace close to shops and restaurants, or do you want a more secluded setting? Do you want your kids to be able to walk to school, or is riding the bus okay? What is the crime rate like in the neighborhood? Does the street look inviting and comfortable? What you want in terms of location should be based on your needs and wants ... not what everybody else is doing.

Also important to keep in mind is that your preferences will probably change over the years. For example, if you have no children right now you might be tempted to ignore looking into the school district the home is in. Later on, however, this will be an important consideration if you do have kids and can also mean moving from a home you love in order for your children to attend better schools.

And, remember that even if some of these things aren't important to you right now they should be if you are looking down the road to someday reselling the property. The location of your home will also be important to prospective buyers. Even those who make a business out of buying and selling real estate understand the importance of being in the right neighborhood.

Here are some important areas to consider:

• A good school system never hurts if you already have children, or are planning to have children in the future. More often than not, homes in better school systems demand a higher price. You may also find that property taxes are higher in these areas because their residents are more willing to approve increases to school budgets.

• All other features being similar, you can usually expect the costs of properties to be notably different based on location. For example, a property of the same age and size just outside a city could be considerably cheaper than a property inside that same city.

• When considering whether to purchase a home in the city or suburbs, you'll want to weigh the pros and cons of to gain a better idea as to what is suitable for your family. If you are considering a purchase outside of a city, you’ll want to make sure that the lower property rate is justified when you factor in the costs of commuting. At the same time, if you are interested in living within city limits, you will want to pay attention to additional costs and factors such as water and sewage costs, pet restrictions and any by-laws that may affect you.

• The Inland Empire is constantly growing. Another important thing to consider is the amount of retail and commercial development that could occur in the future. If the home is surrounded by empty lots zoned for non-residential use, realize that later on down the road they could easily become community parks or shopping centers.

• You should also be thinking ahead in terms of the weather. The hillsides of Southern California are admittedly very beautiful and one of our greatest features. But life on, or near, a hillside can be worrisome as well. If the property is located at the bottom of a slope, for example, you may have flooding issues after a particularly strong rainstorm. And each summer brings fresh warnings of brush fires.

• Learn as much as you can before you finally decide which locations to search in. Even if you don’t think you will like a particular location it does not cost anything to take a quick peek. You may be surprised at what you find when you look around.

All of these location considerations can play a part in helping you to decide whether a specific property is suitable for your family, so take the time to research the different locations and start taking notes regarding your findings. Having this information will definitely make it easier to come to a good decision later on.