Navigating the process of renting or buying a new home can feel overwhelming. Given the significant financial investment and long-term commitment involved in purchasing a home, it’s crucial to be confident in your decision.
This guide covers key aspects to consider when buying a house, helping you evaluate the most critical elements of a potential new home.
Important considerations when purchasing a house
Selecting a home is a deeply personal choice. As you evaluate different properties, prioritize these aspects based on their importance to you and distinguish between what is negotiable and what is a deal breaker.
Here are the top 14 factors to keep in mind when touring properties:
1. Neighborhood safety
As you narrow down your home search, you need to choose a great neighborhood that is safe. Research local crime rates to make sure you and your family will feel comfortable and secure. Social media, like Facebook groups, can provide insights from current residents about the area. Spend time in the neighborhood, walk around, and visit local businesses to get a sense of what it’s like to live there. During an open house, the listing agent might provide a flyer with additional information about the neighborhood.
2. Budget
Setting a budget should be your first step when shopping for a new home, particularly for first-time buyers. Being realistic about how much house you can afford is essential. Even if a property feels like your dream home, it needs to fit within the price range your lender has approved. Some mortgage lenders may offer higher loan amounts depending on your credit score and down payment, but it’s vital to stick to what you can afford.
3. House size
Before engaging a real estate agent or attending open houses, have a clear idea of the house size you desire. Determine your minimum and maximum square footage requirements, as well as the number of bedrooms and bathrooms you need.
The appropriate house size will vary based on your needs and preferences. If you have or plan to have a large family, you’ll likely need a larger house with more bedrooms and bathrooms. Conversely, if it’s just you or you and a partner, a smaller house may be more practical and cost-effective.
4. The perfect yard
Your preference for yard size is another personal choice. Do you want a large yard with low-maintenance landscaping, or do you prefer minimal yard responsibilities? Consider whether you want a home set back from the road for added privacy.
Think about the features you want in your backyard. Properties can offer various natural and man-made elements, such as streams, ponds, pools, hot tubs, patios, swing sets, decks, and built-in grills. While some buyers find these features attractive and useful, others view them as potential liabilities, added expenses, and time commitments.
5. The home’s exterior
While a home inspection will be your primary defense against buying a house with exterior issues, it’s wise to look for warning signs yourself.
Key exterior components to check include:
- Roof: Replacing a roof can cost between $5,000 and $15,000 or more, so you’ll want to avoid this expense as a new homeowner. Look for signs of damage and ask the current owners about the roof’s age and maintenance history.
- Foundation: Repairing foundation problems can cost thousands to tens of thousands of dollars. Look for cracks in the walls, especially around doorways and windows. Doors and windows that stick or jam can also indicate foundation issues. It’s advisable to have a professional assess the foundation.
- Siding: Inspect the exterior walls for damage or disrepair, such as peeling paint, rotting wood, cracks, or other signs of decay.
6. Number of bedrooms
The suitability of a home’s bedrooms will largely depend on your intended use for them. For instance, families with young children might prefer a layout where the primary bedroom is on the same floor as the kids’ rooms. If you plan to convert an extra bedroom into a home office, you might favor a floor plan that places the bedrooms away from the busy kitchen and living areas.
While the total square footage and the number of bedrooms are critical, other factors such as closet space, natural versus artificial light, window views, general privacy, and whether the primary bedroom has an attached bathroom also matter.
7. Local public schools
The quality of public education in an area reflects the overall quality of life. Whether or not you have school-aged children, researching local school statistics is beneficial. A good school district can add value to your property, especially if you plan to sell the home in the future.
8. Bathrooms
When examining the bathrooms, ensure everything functions properly. With permission from the seller or real estate agent, flush the toilets, test the faucets, and even turn on the shower. Verify that the fan works, and check under the sink and around the toilet for leaks and water damage. Be vigilant for any signs of mold.
If you’re seriously considering the house, make sure there won’t be any unpleasant surprises like low water pressure or plumbing issues after moving in. Note the type of shower or tub in each bathroom and whether they meet your needs. Bathroom renovations can be costly, so ensure you’re either satisfied with the current state or ready to invest in improvements.
9. Living room
Consider what you want from the living room in your new home. Do you envision a cozy, warm atmosphere or a chic, modern space? While style can often be changed, focus on the basic floor plan and size of the room. Can you picture your family relaxing in this area? For first-time homebuyers, assess whether the living room meets your needs now and in the future.
Evaluate the room’s layout and how your furniture might fit. Does the design restrict your choices, making the space feel smaller or leaving some areas unusable? Ensure the room is spacious enough for your family’s needs. Also, think about the type of flooring—carpets can be great for comfort, especially for children, but they are harder to clean if you have pets.
10. Heating, ventilation, and air conditioning (HVAC) systems
Overlooking the condition of major home systems is one of the most common mistakes that homebuyers make. Most people aren’t HVAC experts, so it’s essential to ask basic questions about the home’s heating and cooling systems. Determine what type of heating the house uses. Is it a forced-air system powered by a furnace? If so, does the furnace use electricity, gas, or an alternative energy source? For older homes, does it use a boiler and radiator system, or are there baseboard heaters powered by electricity? Additionally, check if the home has central air or if the current owners use window units. Find out when the heating and cooling systems were installed.
Remember that certain types of HVAC systems can increase your utility costs and overall living expenses.
11. Basement
When inspecting the basement, note whether it is finished or remodeled. A finished basement can provide additional living space, but remodeling can be expensive. Look for signs of water damage, such as musty odors, water stains, or mold growth. It’s also wise to consider a radon test during your home inspection since some areas have basements that exceed the Environmental Protection Agency’s maximum radon levels.
If you plan to use the basement frequently, check the lighting and ensure there is at least one accessible door or window for emergency exits.
12. Attic
If possible, ask to see the attic yourself and inspect it for leaks or damage to the roof’s structure. Look for animal droppings, which could indicate an infestation or damage. Assess the attic’s ventilation and insulation. Check the type of insulation and whether it appears wet or water-stained, which could indicate water damage or a compromised roof. Be sure to mention any concerns to your home inspector.
13. Garage
Consider your needs for the garage space. If you have multiple cars or need extra storage or workspace, a multi-car garage might be necessary. Note the total parking space available, including the driveway’s length and width.
Ask yourself these questions:
- Is the garage attached or detached from the house?
- Do you need additional space for storage or a workbench?
- How much garage space is essential for your needs?
Ensure the garage door operates smoothly and is in good condition.
14. Power outlets
A detail often overlooked, especially in older homes, is the number and placement of electrical outlets. Even in new homes, poorly positioned outlets can restrict your layout options and complicate the use of small spaces.
Not having enough outlets for large appliances like TVs or refrigerators can disrupt your plans for using the space efficiently. Make sure the home has an adequate number of outlets in convenient locations to meet your needs.
The bottom line on what to look for when buying a home
Every house will have its pros and cons. It’s your job to decide which features are essential, which ones are deal-breakers, and where you can compromise. Remember, no home will be perfect. Even your dream home might require new appliances, a bathroom remodel, or a new roof. The goal is to find a house that meets most of your needs and wants, as no single home will check every box.
Buying a new home can feel overwhelming, but it becomes more manageable if you know what to look for and what questions to ask.