Buying a home is a joyful period in a person’s life. The problem, however, is that because we want to buy a home so badly, we sometimes don’t see the flaws the property has. Yes, some properties seem to just call to us, but if they have certain issues, you should still walk away. Hopefully, the information below will show you some of the things to be aware of.
First of all, check the neighborhood. This is of absolute vital importance. Is it a growing community, or is it in decline? Signs of decline include numerous boarded up businesses and foreclosed homes. Make sure you visit the area on two different occasions. This will also give you an idea of what traffic is like at different points. Purposely visit the neighborhood once at night, just to get a feel for what the streets are like at that particular time. Additionally, make sure the police provide you with a crime report on the area.
The second key factor to look into is for you to figure out whether you are looking at a foreclosure or short sale property. Although it is true that these are the cheapest properties, they are also often in poor condition and in bad neighborhoods.
After all is said and done, only you can truly decide whether or not you want to purchase a home. However, make sure you exert due diligence at all times. You should never purchase a property that you didn’t have reviewed by a professional inspector. If any issues are found, it is up to you to decide whether you then want to step away from the property, or whether you want to use it as a bargaining tool to bring down the price. Do be careful with this, however, as you don’t want to end up purchasing a money pit.