In looking for your new home, the initial focus is generally on items like location, price, square footage, number of bedrooms and bathrooms. However, there are some other factors to consider in the selection of your new home.
1. What is the Resale Value Potential
If you are planning to stay in your home long-term, consider sometimes unexpected events could arise that might involve selling the house. Homes, depending on exterior features as well as interior features can be challenging to resell. Consider items such as is the home near a noisy area, lots of traffic, close to grocery shopping, healthcare, general shopping or have a unique layout. Though there is no guarantee on maintaining or increasing the home’s value over time as unforeseen activities or events can occur outside of your control do consider neighborhoods that exhibit strong growth potential.
2. School District Ratings
Whether or not you are in the need of schooling in the area, many buyers are looking for strong schooling options for their family. Being in an area that has a highly-rated school district can help maintain or increase your property’s value as well as for resale potential.
3. Cellular and Internet Connectivity
Never assume there is strong cell service or high-speed internet. Oddly, on occasion, even if there are a number of homes or communities in the area one or both of the services can be spotty. It is a good idea to check signal strength and know service providers in the area for both.
4. Ask about the Utilities that serve the home
Is there public water and public sewer or is the home on a private well and septic? Be aware, it can be a combination. For either type of utilities some buyers are okay with any combinations and some buyers have a preference. As a note, if the home is in the country, buyers will generally assume the home will be on a well and septic system.
5. Neighborhood Noise Levels
Listen for the noise. Are you close to major roads, trains, airports, or very busy businesses? For some too much noise can disrupt sleep, activities/events you may want to have in your own yard as well as relaxation. By investing a bit of time around the home at various times of the day and different days of week, it will give you a sense of the noise levels.
6. Storage and Closet Space
Take time to determine if there is the right storage space for your needs. Not only will it help improve your day-to-day living but if there is a need to sell it could be an important feature for a buyer. For many, the convenience or need for accessible storage is important.
7. Parking and Street Congestion
Even if you have a garage with your new home, consider how many family members and guests may need parking options. Is there additional driveway for extra vehicles or is street parking an option?
8. Emergency Services and Healthcare
Are the Emergency Services and Healthcare within a reasonable distance from the home? Though hopefully you will not need one but it is important to know these services (such as fire departments, doctors, hospitals and police stations) are available should they be needed. With some insurance companies this can be one of the factors in their ratings.
9. Quality of Community Infrastructure
If the home is in an HOA, depending on the HOAs responsibilities, how are they maintaining the community and any amenities within the community. Are the roads, sidewalks and other parts of the wider infrastructure outside of the community being maintained. If the infrastructure does not seem to be maintained well, perhaps the HOA or the local government is not correctly funded. When funding is needed it might cause an increase in HOA fees or property taxes.
10. Future Development Plans
Take the time to do research on future development plans within the community or expansion activities for infrastructure or new businesses outside the community. New development such as commercial centers, road additions or expansions or other construction could affect property values and change the neighborhood’s character for the positive or otherwise. The Local planning departments are a resource to obtain this information.
Purchasing a home is an exciting and expensive experience. Considering the items above as well as what is most important to you are important help in your making a decision that is both a wise investment and a home that works best for your personal lifestyle and short as well as long term needs.
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