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Items to Investigate Prior to a Home Purchase

By: Jorge Lopez, April 4, 2016

If the purchase of a home is currently among your plans for this year, you probably already know the importance of having a real estate agent, a down payment, and finding the right mortgage lender.  Finding your ideal home usually translates to a lot of work, but it can also be exciting.  It can also yield disappointment if, for example, you find a perfect home only to realize the repair work is extensive.

The same idea can also apply to neighborhoods in that you may come across a seemingly idyllic neighborhood only to realize it’s not quite so ideal underneath the surface.  Unlike a home, an inspector can’t point out to you what’s wrong, in which case you’ll need to do your homework with or without the help of your real estate agent.

You may wish to start by evaluating crime statistics among the neighborhoods you’re considering.  This information can typically be found online.  While you’re at it, evaluate the school district(s).  Remember that top rated schools will positively affect the value of a home.

Always keep in mind that the mortgage and closing costs are sonly a portion of the equation you’ll be dealing with when you become a homeowner.  You’ll also need to take care of other expenses like annual property taxes, another thing you may wish to research prior to signing on the dotted line.

This real estate and financial update is brought to you by FreeValues.com, the number one provider of free home values on the web.  We provide free house values as well as useful information for sellers.