Home Buying Considerations

March 3rd, 2007  |  Published in finances, real estate

Purchasing a home is a major decision that requires careful consideration. Before jumping into the latest home bidding war after falling in love with a home, here are some things to consider:

1. Curb Appeal – The first impression that your home makes on visitors and maybe potential buyers one day is crucial in the price of your investment. This first impression is referred to as curb appeal and is one area often overlooked by home buyers.

2. How does the frontage size compare to others on the street? This is also an important consideration. If you have a very narrow lot that is sandwiched between two large lots, your house may eventually be dwarfed when two large homes are built on either side. Resale value will be drastically diminished.

3. Does the house have an eat-in kitchen? Forget TV dinners: the kitchen is an important room in the house for entertaining and quality family time.

4. Powder room on your main floor. Not only is this important for your guests, but when you’re rushing out of your house, it’s nice to have a washroom on the main floor so that you don’t have to run all the way upstairs.

5. Make sure there is no obsolete knob and tube Wiring. This is a hazard in any home and has to be replaced.

6. Check for mildew in the basement. This can be a sign of other troubles in the house.

7. Are the windows operating? Windows are expensive to change.

8. Galvanized water piping is a definite no!

9. Ensure the house does not slope to the center.

10. Is the roof in good condition?

All of these considerations can help you make the right decision on a good-quality home that you can enjoy for years to come.

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