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Buying a House: Some Things to Consider

Buying a House Information

 

Buying a house can be a challenge for all homeowners, especially first time buyers.  Before ever considering financing, a consideration a buyer needs to research is where. The first thing to consider even before the financing is the FAQs of the neighborhood and the home being considered. 

 

For example, have you thought about pulling up a sex offender report for the street or area the prospective property is on? You might be floored by who or what is living in the vicinity to the property. How about natural hazard zones the brush fire zone, flooding hazards that could affect your ability to build additions to the home or require costly flood insurance.

 

Buying a House Get a CLUE about the property itself

 

What can you learn about the property itself? A low-cost home may seem like the best strategy, but talk to a home buyer who “bought a lemon” and you will realize purchasing a report that about the history of a property can be inexpensive compared to home issues?  Adding a CLUE and a Natural Hazard Disclosure report cover most of the issues in buying a house the right way.

 

Buying a House: Near and Far

 

Another consideration sometimes overlooked by a new homebuyer is how much traffic they are putting between their current life – office, friends, family – and their potential new home. If you buy a house that is a longer commute may cost you more in gas and time.  If you have children, is the school district going to be satisfactory or will you have to pay for private school.

Whether a new homebuyer or a seasoned investment professional, there are considerations than meet the eye when making an ownership decision.


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