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Mortgage 
What to Look for When Buying a Home
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"Negotiable" Seller |
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School District | |||||||||||||||||||||
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Other Features | |||||||||||||||||||||
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Look for sellers who are willing to negotiate. External circumstance — divorce, an estate problem, a sell-off in the stock market, an imminent relocation, emotional factors — can influence sellers to be more flexible on price and other terms. Most of the time, a seller is willing to take a discount to the asking price and, occasionally, to accept a price below their stated minimum. It makes sense to explore these situations. |
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Look for the right school district, one which has a good reputation. (If it is a good school district, the word gets around very quickly.) If the local high school, for example, sends a higher-than-average percentage of their students to the Ivy League, this bodes well both for your children's education and for your home's resale value. |
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Look for other distinguishing features to a house or its location. A great view, a unique feature within the home, a waterfront location, access to transportation and shopping, privacy and/or security, proximity to a beach or park are all assets which will benefit you as an owner (and as a reseller one day in the future). Keep an eye out for potential liabilities, as well. Walk around the property and the neighborhood at different times of the day — a house and an area may give off a very different comfort level at 9pm than at 9am. If you see cracks in the foundation or water stains on the walls, find out why; if there is graffiti in the parks or poorly maintained houses in the neighborhood, be wary. Don't buy the right property in the wrong neighborhood or the wrong property in the right neighborhood. |
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 Return to Loans |
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