Buying a home is a huge decision. It’s usually the biggest investment most people make in their lives. And there are so many things to consider. As you’re considering your options, we put together a list checklist of questions to ask yourself before buying a home.
If you have children then you definitely want to check into the local public schools or what private school options you have. Don’t have kids yet? This is still something you should take a look at as it will affect the resale opportunity.
If you currently rent and are looking to buy, there will obviously be a difference between renter’s insurance and Homeowner’s insurance. But if you’re currently a homeowner, of say, a condo, and you’re looking to buy a single-family home, there’s likely going to be an increase in your homeowner’s insurance. It’s best to know what the difference will be ahead of time, or at least get an estimate, so you can calculate that into your new budget.
Again, these are things that are likely to change if you’re going from renting to buying or if you’re increasing your home type. Things such as water and garbage might currently be included in your rent or home owner’s association, but will be your responsibility with the new home.
You definitely want to take a look at your new route to work to get a sense for how your commute will be affected. Additionally, if your commute is longer, you’ll want to factor in the additional cost of gas. This may not be a huge deal, but everything will add up.
This is a big one. Yes, it’s typical to have an inspection prior to buying a home and you’ll be aware of anything the inspector points out. But what about the stuff the inspector can’t see? There are all sorts of things that happen with a house that you should be prepared for. If you’re buying in a mature neighborhood with big trees on the lot, consider how old the house is and ask if the sewer line has been replaced, and if so, how long ago. Other big ticket items are windows, roofs, water heaters, and air conditioners.
We hope now you feel better prepared for buying a new home! We’d love to answer any questions you may have and partner with you on this exciting process!