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State Wide Realty Answers: What to Consider When Buying A Home?

Real Estate Broker/Owner with State Wide Realty Co. 0225108792

June 14, 2023 10:59 AM

State Wide Realty Answers:
What is Important to Consider When Buying A Home?

It is easy to focus on the major wish-list items when buying a home such as number of bedrooms, bathrooms and location. The harder things to look for are the potential dangers a home may present and how that will affect insurance costs, damage to you or the home and resale value.

What to consider for Home Insurance Risks: The rate and even acceptance of your homeowner’s insurance policy will be based on the potential risks the home presents. Some of these risk factors include but are not limited to swimming pools, trampolines, woodstoves, and age of the plumbing and electrical. These things carry a higher liability and therefore may cost you a higher premium.

What to consider for Future Damage: Check to make sure that the home you want is not located in an area that is in a flood plain, on a hillside at risk for landslides, or on a fault line for earthquakes. These things put a home into a higher risk for future structural damage than normal. Also, make sure that the home is structurally sound and that a licensed home inspector looks at the foundation and other structures to see if they are up to code and not showing signs of damage.

What to Consider for Resale: Make sure the home you are buying is in a place that others would find desirable especially if you know upfront this isn’t going to be a forever home. Look at things such as proximity to shops, medical facilities and job opportunities. Find out about the schools and the tax rate in the area. All of these things can factor in when or if you put the property up for sale in the future.

State Wide Realty Co. agents have a combined 400+ years of experience selling real estate in South Central VA and will guide YOU through the WHOLE Purchase. We have been #1 in sales in this area for over 20 Years and counting! Call State Wide Realty Co. today at 434-392-6163 or visit our website at www.VaStateWideRealty.com for more information.