Saving money for a down payment on a home is no easy feat, which is why I started looking into various ways to make sure that I had things sorted out like I should. I began working with a real estate agent to chat about what to do and how to start saving, and they explained how much I needed if I wanted to avoid private mortgage insurance, and when the market typically trended upwards. It was really neat for me to see everything I could do with the advice, and saving became easier after I had a clear goal. Find out more about real estate by reading this blog.
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What Lies Ahead: How To Fast-Forward Your Home Buying Requirements
Cathy Frazier
No one knows what the future will bring. If you are looking at property listings, though, you might need to take what lies ahead into consideration. Buying a home based on your present needs and circumstances might leave you with some unexpected problems if you fail to look ahead and end up selling it in the future. For some ideas on looking forward, read on.
School Quality
Not everyone is interested in the quality of the local school system, but perhaps they ought to be. Parents almost always list school quality as one of those must-haves when searching for a home, but empty-nesters and childless buyers need to consider that aspect as well. If you are well-past worrying about back-to-school events, then you still might want to put your home up for sale one day. Even those that don't yet have children but plan to should check out the schools. Websites make it easy to compare school quality for your proposed neighborhood.
Zoning Headaches
Some buyers are blissfully unaware of the zoning regulations that surround their homes. Zoning controls who and what can build and do business in a given area. You might welcome a new grocery store a few blocks away, for example. What happens, however, if the vacant land behind your home becomes a race car track, airport, landfill, or other undesirable businesses? It's in your best interest to find out about zoning regulations in the areas that surround your home and neighborhood and to stay informed about changes. Not only can your quality of life be negativity affected by noisy or disruptive businesses, but they can seriously affect your home's resale value. On the other hand, if you choose a home that is located near land that is dedicated to the preservation of green spaces or other set-asides, that home may be worth far more now and later than is obvious today.
Landscape Problems
What is being referenced here goes beyond a diseased tree or some dead plantings. The very ground beneath your home may not be stable. If the home is situated on a hillside or in an area prone to sinkholes, you need to know about it ahead of time. Hillside homes are not necessarily less stable, as long as retaining walls and drainage issues have been addressed. Many insurance policies won't cover ground stability issues, so have an inspection that includes the land around the home before you close on the deal.
Before you fall in love with a home with an uncertain future, speak to a real estate agent about the above issues so that you will have a better idea of what the future will bring.
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