Buying a home is one of the biggest investments most people will make in their lives, and many of us make this decision with a surprising lack of information.
When I bought my first house, I spent about 30 minutes walking through it before taking the plunge and putting down the most money I had ever committed to something.
Why did I spend so much money on something without doing more homework?
Because that’s what everyone does… And no matter how “normal” this may seem to your real estate agent, it’s crazy. You MUST do more homework before making this decision!
After buying a few different homes and running my own real estate business for over a decade, I realized that everyone should do some research before signing on the dotted line. Still, very Few people think about these things.
In this article, I will share five little-known mistakes to watch out for. You’ll save yourself years of frustration if you identify these things.
1. Get an insurance quote.
Not all properties are the same.
As obvious as it may seem, most home buyers are so busy dreaming about their future that they don’t think about the things that can rear their ugly heads and become a BIG inconvenience after being stuck in this long-term commitment.
An easy way to uncover some of these inconvenient truths is to get an insurance quote for the property you are considering. Because? Because it will provide all kinds of useful information, including crime rates, flood risk, types of neighborhood complaints, and more.
True story: My first house was in a high crime neighborhood and we were also located within a flood zone. Both of these problems became quite problematic while we lived there, when our basement flooded AND our house was burglarized while we were on vacation. These issues also presented some problems when we tried to sell our house years later… because, after all, Who wants to buy a property that was recently burglarized and has a history of flooding?
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If I had investigated the potential of these things before buyingI probably would have chosen another house, but anyway, all those years ago I couldn’t give myself such wise advice.
Don’t make the same mistake I made. It is not difficult to get a simple insurance quote. (trust me, any insurance agent will be happy to send you one). Alternatively, if you prefer to investigate these things without make a phone call, check out some free websites like Obie and crimereports.comwhere you can get much of the same information in your area.
2. Buy near a school? Visit the property from 8 am – 9 am and 2 pm – 3 pm Monday to Friday.
You probably remember when you were in school, right?
It’s not uncommon for buses to start lining up 30 minutes before kids get off, while on the other side of the building there are 40 other cars blocking traffic during these times.
Especially if the house you are considering is in a densely populated area with narrow city streets, it can be very problematic to get in or out of where you live during school hours.
Schools are also full of screaming children during lunch and recess. This may not be a problem for everyone, but if you work a third shift or want a quieter environment with less traffic during the day, you’ll want to think twice before purchasing property near a school.
3. Don’t be fooled by the superficial “beauty” of a property.
Most people have a surprising lack of vision. When you walk through a house, all you can see is what’s there. immediately in front of themwithout thinking logically about what they could easily do on their own.
Real estate agents LOVE to emphasize things like granite countertops and stainless steel appliances, but it’s important to realize, These are not the most expensive aspects of a house.
You can put all of these things into a residential property for less than $10,000 – a small portion of a home that may cost $200,000 – $300,000 or more. many houses without These eye-catching items can sometimes be purchased at a much better price simply because most buyers overlook homes that don’t look pretty on the surface (and remember, you can easily pay for these upgrades yourself after purchasing them).
Things like windows, roofs, foundation, and the infrastructure of a home can cost a LOT more to update or fix.
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When you request a home inspection report (which must be always do before buying a new home), pay close attention to things that will cost a fortune to repair and update. Every part of a home will wear out over time, so if you find yourself stuck paying these bills anytime soon, make sure your final purchase price reflects that.
4. You can fix almost anything in a house, except your neighbors.
As much as possible, try to understand what type of neighbors you will have next door (and even down the street) from the home you are considering. You can even knock on some doors and greet your potential neighbors if necessary.
A particular issue to consider is whether any property in the immediate vicinity is short term rentals. Go to websites like VRBO and Airbnb and look closely for nearby listings for short-term rentals.
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With short-term rental properties, you’ll have new people coming and going on a monthly (if not weekly) basis, which means you’ll inevitably have some strange characters hanging around the house next door. If this kind of thing bothers you, it’s best to investigate the situation BEFORE you put down roots and buy your new home.
Don’t get me wrong: I have nothing against short-term rentals (I use them all the time when I travel), but when it comes to the place where my family sleeps at night – I want to be as certain as possible about who will live next to me.
5. Spend time in the neighborhood on Thursdays, Fridays and Saturdays between 6 and 8 p.m.
Many people spend most of their time at home during the evenings and weekends. As such, it only makes sense to have an idea of what’s going on in the neighborhood during this time period on a typical day (and of course, if you work second or third shifts and/or weekends, you can simply visit when you’re home).
If there is any concerning activity (gangs or troublemakers) or particularly annoying things happening during this time of day or week (barking dogs, screaming children, neighborhood lawyers, noisy traffic, trains, low-flying planes, etc.), this type of preliminary neighborhood investigation will allow you to identify red flags early.
6. BONUS: Always check your cell phone signal when walking around the property.
Fortunately, phones are becoming more sophisticated and cell tower signals are getting stronger every year. Still, if you are looking for a house in a sparsely populated area or if the property is located at the foot of a hill, Make sure you receive a strong enough cell phone signal.
Few things are more irritating than a weak (or non-existent) line of communication in the place you call home. To ensure you don’t have to deal with this issue in the foreseeable future, always make sure you can get a decent cell phone signal when walking around the property you’re considering.
Final thoughts
Of course, this is not an exhaustive list of problems that can arise as a homeowner, but these are all very real problems that most people never consider until AFTER they have purchased their home.
My goal is not to cause any paranoia or undue anxiety. Still, as someone who has dealt with each of these issues on some level, I can tell you that these things are very real, and if you want to remove some stress from your future, it’s worth spending a few minutes of your time researching these things before making a decision that it is not easy to reverse.
If something about your new place seems to get in the way of your daily life, you probably won’t just “get over it” in the next few years (in fact, it may become even more difficult). more annoying in the future). No property is perfect from every angle, but when you discover problems in your new home, make sure they are problems you are willing to tolerate, because life is too short not to enjoy where you live.
