Buying a house is stressful and overwhelming. There are so many details and considerations to make that overlooking a few can be easy to do. There are the obvious details you’re looking for: location, space, how many bedrooms and bathrooms and there are details a lot of people forget about or don’t even know about. Here are 5 things you need to look at when buying a house.
1. Property Taxes
Property taxes are levies on a property that the owner is required to pay. The amount of property taxes is determined by the property value. These taxes are assessed every year and should be taken into consideration when buying your home. This can either be a once a year payment or it can be escrowed to become part of the monthly payment. This can greatly affect the affordability of the home.
2. Home Owner’s Association (fees)
A Home Owner’s Association (HOA) is an association you’re obligated to join when you move into a planned development. This can include condominiums, townhouses or any other type of property. The HOA will have a yearly or monthly fee you have to pay. The fee is for the upkeep of common areas in the development. The common areas would include swimming pools, landscaping, fitness rooms, laundry areas, etc.
3. School District
Looking into the school district of a potential home is a good idea even if you don’t have children. The school district your home is in is important for the obvious reasons if you do have children. You want your kids to go to a good school. However, it affects so much more than that. Houses in good school districts have a faster resale rate and better-preserved home values. A good way to find out if the school district is a good one is to research the school’s student-to-teacher ratios and their standardised test scores.
4. Well, City, Septic or Sewer
Knowing what kind of water and sewage a home has is very important. There are huge differences between the possibilities. There are no monthly bills if you have a well and a septic, but maintenance and any repairs can get extremely expensive. City water and sewer systems have a monthly charge from the city, but there is very little maintenance required in these systems. Make sure to look into what each system entails before deciding on a house with that type of water system.
Inspections are vital when purchasing a home. The structural integrity of a house can seriously impact how much money you’re going to spend. Always try to attend the inspection(s). It is very important to
know if the home you’re buying is structurally sound. Look into the inspector before you choose them. Your inspector should be a professional and have proper credentials.
Purchasing a home can be a stressful experience. It is up to you to cover your bases to make the experience as positive as possible. This is likely the biggest and most important purchase you will make. Do yourself a service and don’t skip over looking into property taxes, homeowners associations and fees, school districts, water systems, and inspections.
* This post was offered by Jon Reyes from Steam Shower Store. Jon is an expert writer in the health and fitness niche and has been writing and studying topics like this one for over 10 years.