Real Estate News

Why Price Shouldnt Be the Only Driver in the Search for Your First Home


Written By: Jaymi Naciri
Tuesday, December 4, 2018

Can you afford to heat and cool it?

You may only be thinking of home size in terms of the number of rooms or square footage you want. But, in many cases, a larger home costs more to maintain. More space means more space to heat and cool. Although, a home thatrsquo;s newer or that has updated systems can help defray costs because itrsquo;s more efficient. Your real estate agent may be able to get an idea of the monthly utility costs so you can have this information up front.

Whos going to mow the lawn?

If yoursquo;ve never had your own lawn or garden, you may not know if you have a green thumb or if yoursquo;ll regard the time it takes to care for it as a pleasure or a bummer. Then again, if yoursquo;re already dreading the idea of having to spend a couple hours out there each week, perhaps a single-family home isnrsquo;t for you. Yeah, you could pay someone else to do it, but yoursquo;re already stretching to buy your own place, right? Perhaps the lower-maintenance life>

Whatrsquo;s good for resale?

Are you thinking about how easy it will be to sell your home when yoursquo;re just about to buy it? Maybe not, but, the truth it itrsquo;s always a good idea to think like a seller when buying. Chances are, this starter home wonrsquo;t be your forever home, and the same questions you have about the floorplan or location are likely the questions would-be buyers will be asking when you go to sell.

As it >

How close are the schools?

Dying to walk your kids to and from school every day? Thatrsquo;s the dream for many a parent. But what you might not be envisioning is being able to watchmdash;and hearmdash;every kid in the school walk by twice a day, every day. What seems like a super-convenient location right on the walking path to the elementary school may just turn out to be too much of a good thing if it impacts your privacy and peace of mind.

Did anything weird happen there?

Yes, the seller will be required to disclose physical defects and also defects that create the potential for stigmatization. ldquo;What yoursquo;re talking about is the issue of lsquo;psychological damagersquo; to a property, to be distinguished from lsquo;physical damage,rsquo;rdquo; said NOLO. ldquo;In some cases, the psychological damage is so greatmdash;such as after a violent or highly publicized murder or suicide, or widespread reports of hauntingmdash;that the house is considered lsquo;stigmatizedrsquo; and therefore less valuable. In most states, the owner would indeed be expected to disclose a defect causing the house to be stigmatized, so that buyers could adjust their expectations and purchase price accordingly.rdquo;

A natural death in the home, however, is not generally something that needs to be disclosed. If thatrsquo;s the type of thing that could keep you from wanting to live there you, just ask. ldquo;If a prospective home buyer asks you outright about whether anyone has died in the home, you cannot lie unless you want to risk being later sued for fraud,rdquo; they said. ldquo;Also, be prepared for any buyer who is interested in this issue or shall we say obsessed by it? to find out the information online, at a site like DiedinHouse.com.rdquo;



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Updated: Tuesday, December 18, 2018


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