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Buying A New Home - Considerations When Buying Your Dream House
- During
the house selection process it is good to have your credit history
checked.
- There
is nothing more embarassing than to make a bid on a home and
be told your not eligible for financial assistance.
- Before
considering your new dream house make certain your credit history
is in good standing.
- When
considering a home try not to focus on the past economic growth.
This growth is very important, but also look into the future
potential or downfalls of the property.
- When
considering a home try to understand location is everything!
The house you're lookig at may be the best looking on the
block but this could be a disadvantage. If the neighborhood
doesn't match your new perspective home chances are strong its
value will depreciate in time.
- Will
this new city or neighborhood have opportunities available for
the future that will allow an investment in my home to prosper?
Other words, does the neighborhood have potential to increase
my house's value?
- Will
this area continue to prosper and have the job opportunities
necessary to support your mortgage?
- What's
the schools like? How are they rated? Make a day of visiting
your new city or neighborhood and ask the people who live there
questions about the schools and the community in general. Be
specific with your questions!
- Will
the local park be converted into a housing development in the
future, or maintained without graffiti and garbage?
- What
other structures, airport traffic, or freeways are planed in
the area? How would this effect your property value like noise
pollution or the bright hot pink hotel they will build across
the street?
- Does
the asking price match the value of the home?
- Most
appraisals don't always reflect the true value of the home. It
is good to contact the county assessors office and ask the appraised
price of the home you are wanting to buy. This will tell
you what the local government thinks it is worth and relate the
tax base you can plan on paying from.
- When
offering the sellers a bid be considerate and honest! Don't
insult them or embarrass yourself by bidding too low. Don't
offer them a bid that is over your credited amount either.
Do keep
in mind it's impossible to predict the future, but by taking the
time to ask the right questions, you will have the necessary information
available to make the best decision you and your family can given
the current market. It does pay to leave as little to chance as
you can.
I have provided a page for those who are settling in Tipton, Missouri. I've placed an utilities page to help you contact our local utility companies.
For help in answering some of your buying questions please fill out my form.
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