8 House Buying Tips That Might Make Or Break A Good Deal

If you are looking to buy a house, it’s certain that you’ve already done a lot of due diligence to determine what might work for you: size, cost, and other items on your top 10 list. Beyond that, it’s important to think about the short and long-term plans you have: are you going to be in the house for a long time, a short time or are you buying it as a potential investment property. With a number of factors to consider, these 8 house buying tips might just help you make or break a deal.

 House Buying Tip 1: Location, Location, Location

Your first and foremost house buying tip should be location. A house is a house, and can be modified, changed and/or renovated. But, location cannot be changed. Make sure that wherever you buy a house, the location meets your short and long-term goals; and ensure that you have a great understanding of what might be changing, such as new developments, amenities etc. Be very up front with your real estate agent about what you need and want, so that they only show you properties that can meet your needs.

House Buying Tip 2: Ask If There’s a Homeowner’s Association

If you plan on doing any drastic remodeling, you need to know if the neighborhood will allow you to make the changes you desire. Of course, just because the neighborhood has a homeowner’s association doesn’t mean you can customize your house any way you choose, but it’s a good starting point. Remember, a home owners association is a starting point; but you may also want to find out what the local bi-laws are and if there are any particular exceptions/inclusions that might help you decide if a house is right for you.

House Buying Tip 3: Have a Plan

Before you start looking to buy a house, you need to know what customizations you plan to implement. For example, if you plan to build your dream home office, you’ll want to look for a house with a larger extra bedroom; or if you have a family or plan to start one, maybe an extra bedroom or bathroom are on your list. Think ahead, tell your real estate agent about your plans so that you can look to their experience to make suggestions. Remember, your real estate agent is a wealth of information as they have likely worked with a number of individuals in all different stages of life.

House Buying Tip 4: Know Your Limitations

Having a good understanding of a house and its structure might make or break a deal. For example, if you have ideas on renovating a property you are looking to buy, you may want to get a good feel for it’s structure to see if what you have planned can actually be done. If there are other houses in the area, or similar models around, have a look at them if you can and understand if there are any limitations. Your real estate agent might be able to help you with this, or even asking a general contractor to come in and have a look might help. After all, it’s going to be your house: so if you are limited to the customizations you might like to add, it may make you walk away before you buy something that won’t work.

House Buying Tip 5: Determine Your Budget

Although it would be nice for everyone to do what they want and buy whatever house they like best, it’s still important to have a reality check and ensure that your budget works with what you are looking for. Get pre-approved from your financial institution and then engage with a real estate agent; hand them your top 10 list and your budget as it’s their job to help you find the best fit for you.

House Buying Tip 6: Prioritize the Kitchen

The kitchen is the most expensive room in a house; at least in a lot of cases. If you don’t have a lot of budget to remodel, you may want to consider a house that has a kitchen that will meet your needs now and for years to come. Or, if you are handy, and the kitchen space is sufficient, maybe this is a remodel you can do right away (and on your own) while saving a bit of money. Remember, the kitchen is always expensive and it’s the one room that most everyone uses every day so it’s important that it works.

House Buying Tip 7: Security

A security system is great to already have in the house you plan on buying, even if it’s not monitored at the time. At least this way you know that it’s wired, working, and can be turned on the moment you move in. If the house doesn’t have one, it could be quite expensive to have the house wired and connected if this is something that you want now, or in the future. The experts at Blue Tree Home Security also state that most homes could benefit from some sort of security as it can help keep you safe, possibly reduce insurance rates, or even just provide you with peace of mind; all important factors to consider for you and your family.

House Buying Tip 8: Natural Lighting

There are a lot of things you can do to your house to make it fit your lifestyle, but there are also things that you can’t do without some pretty major renovation and expense. Natural lighting is one of those things. If you want natural light, which most do, make sure the house you buy has what you are looking for.

Although these 8 house buying tips are a great place to get started, there are still a number of items you might want to consider especially being up-front with your real estate agent; let them have an understanding of your lifestyle, wants, needs, and anything else that you’ve been thinking about as part of the house buying process. This way, when you are looking at houses you don’t get too caught up in the house; and you end up making the right choice for both the short and long-run. 

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