When you’re looking to buy a home for sale, the process entails more than just comparing the number of bedrooms and bathrooms in each dwelling that catches your eye. Your potential investment also goes beyond the confines of the home’s walls.
In a highly competitive market, buyers are willing to compromise on factors that could cause problems later, simply because they’re anxious about getting into a house.
“For instance, they might overlook the fact that it has no backyard or that it’s next to a busy street,” says Kris Paolini, a senior agent with Redfin in the Washington, D.C., metro area.
So yes, “location, location, location” remains a valid factor to consider when looking at homes for sale. Read on to learn what else should be on your radar.
It’s easy to superficially fall in love with a house; but you have to take a peek under the hood, so to speak.
Paolini suggests examining a house’s electrical panel, air conditioning unit, furnace, roof and grading around the house.
Don’t be seduced by the home shopping process when you’re looking for a home for sale, says Marietta Rodriguez, vice president of national homeownership programs at NeighborWorks America in Washington, D.C.
“Things that appeal to them once they start looking at homes can sometimes outpace some of the things that are most important,” she says.
Remember that a home purchase needs to be approached as an investment.
Buyers should be asking, “Where can I find a property that is going to hold its value the best over time and increase in value the most over time?” says Daren Blomquist, vice president for RealtyTrac in Irvine, California.