Shopping for a new home to rent or buy can be overwhelming. Because buying a home is expensive and a long-term commitment, if you decide to buy, you’ll want to feel satisfied with your purchase.
In this article, we’ll talk about what to look for when buying a house and what you need to consider when evaluating the most important elements of a home.
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What To Look For When Buying A House
Choosing a home is a highly personal decision. As you think about the different aspects of a home, rank their level of importance to your needs and decide which are negotiable and which are deal breakers.
Below are the top 11 considerations you should take note of when viewing properties.
1. House Size
You should have a general idea of what size house you want before you even find a real estate agent and start going to open houses. Figure out a minimum and maximum square footage and the number of bedrooms and bathrooms you’ll need.
What size house you should buy will depend on your needs and your personal preferences. If you have a large family or plan on starting one soon, you’ll probably need to look at houses with more square footage and more bedrooms and bathrooms. On the other hand, if your household is just you or you and a partner, it may make more sense and be more affordable to look at smaller houses.
2. The Ideal Yard
Another matter of personal preference is what kind of yard you’d like. Do you want a lot of acreage and beautiful, low-maintenance landscaping? Or would you prefer to avoid the responsibility that comes with having a big lawn? Maybe you want a home that sits back further from the road, providing a little more privacy.
You’ll also have to think about what kind of features you want in the backyard. You can find homes with all sorts of natural and human-made features, from streams and ponds to pools, hot tubs, patios, swing sets, decks, built-in grills and more. For some home buyers, these are attractive and useful features, while for others, they signal liability, expense and a huge time commitment.
3. The Home’s Exterior
Your main line of defense against buying a home with a deteriorating exterior will be your home inspection, but it’s still a good idea to keep an eye out for red flags.
Here are some of the main exterior components you should be sure to check out when viewing a house:
- Roof: A new roof can cost $5,000 – $15,000 or more. It’s not an expense you want to be stuck with as a new home buyer. Look for damage and ask the current owners how old the roof is and how it’s been maintained.
- Foundation: Foundation problems can cost you thousands to tens of thousands of dollars to repair. To spot a bad foundation, keep an eye out for cracks in the walls (particularly around doorways or windows). Doors and windows that stick or jam are another warning sign. Ultimately, you’ll want to get a professional to sign off on the state of the home’s foundation.
- Siding: Check out the exterior walls for any obvious signs of damage or disrepair, including peeling paint, rotting wood, cracks or other signs of decay.
4. Number Of Bedrooms
Whether the home’s bedrooms are suitable for your needs will depend on how you plan to use them. For example, families with small children might not want a house where the primary bedroom is on a different floor from the kids’ bedrooms.
If you plan on converting an extra bedroom into a home office, you might prefer a floor plan where the bedrooms are farther away from the hustle and bustle of the kitchen and living room.
Again, the square footage and the number of bedrooms are important considerations. However, there are plenty of other factors to think about, including closet space, natural versus artificial light, views from the windows, general privacy and whether there’s a bathroom attached to the primary bedroom.
5. Bathrooms
When you’re checking out the bathroom, make sure everything’s in working order:
- With the seller’s or REALTOR®’s permission, flush the toilets, test the faucets and even turn on the shower.
- Make sure the fan works.
- Look under the sink and around the toilet for leaks and water damage.
- Keep an eye out for mold.
If you’re seriously considering buying a house, you’ll want to make sure there are no surprises after you move in, such as low water pressure or plumbing problems.
Make a note of what type of shower or tub each bathroom has and if they suit your needs. Bathroom renovations can be costly, so make sure you’re either happy with the bathrooms as-is or prepared to pay for improvements down the line.
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6. Living Room
What are you looking for in your new home’s living room? Do you want it to feel cozy and warm or chic and modern?
Style is important but can often be altered. So, focus on the basic floor plan and square footage of the room. Can you see your family members relaxing in this space? If you’re a first-time home buyer and this is a starter home, does it work for your needs right now versus down the line?
Consider the layout of the room as well as how your furniture might fit. Does the room design limit your choices in ways that can make the space feel smaller or leave certain areas unusable? Is the room large enough for all your family members’ needs?
Don’t forget to consider the type of floor. Carpets might be great for kids or comfort, but they’re hard to clean, especially if you have pets.
7. Heating, Ventilation And Air Conditioning (HVAC) Systems
Unless you work in the HVAC industry, you probably aren’t an expert in evaluating the condition of a home’s heating and cooling systems. There are some basic questions about day-to-day living that you will want to ask:
- What kind of heating does the house have?
- Is it a forced air system powered by a furnace? If so, does the furnace use electricity, gas or an alternative energy source?
- Is it an older house that uses a boiler and radiator system?
- Does the home have baseboard heaters that use electricity?
- Does the home have central air or do the current owners use window units?
- When were the heating and cooling systems installed?
Keep in mind that certain types of HVAC systems will increase your utility costs and your living expenses.
8. Basement
When viewing the basement, make a note of whether it’s finished or remodeled. Some people prefer a finished basement for added living space, and basement remodels can be costly.
Keep an eye out for signs of water damage, take note of any musty smells and look for water stains or mold growth. You should also consider having a radon test done as part of your home inspection because basements in some areas exceed the maximum radon levels outlined by the Environmental Protection Agency.
If the basement is finished and you plan on spending a lot of time in it, pay attention to how much lighting it has. It should also have at least one accessible door or window in case you need to get out quickly in an emergency.
9. Attic
If possible, ask to see the attic yourself and look for signs of leaks and damage to the roof’s structure. Be on the lookout for animal droppings as well, since that could indicate an infestation or damage you need to worry about.
Also, take note of the attic's ventilation and insulation. What kind of insulation is it? Does it appear wet or water stained? If so, be sure to mention it to your home inspector, as it could be a sign of water damage or a damaged roof.
10. Garage
If you have more than one car or plan on using your garage for more than parking, you might want a multi-car garage. Make a note of the total amount of parking space the lot has, including the length and width of the driveway.
You may also want to ask yourself some of the following questions:
- Is the garage attached or separate from the house?
- Do you need additional room to store and organize your stuff or a spot for a workbench?
- How much garage space do you need?
Also, make sure to check that the garage door works well and appears to be in good condition.
11. Power Outlets
A seemingly small detail that comes up often with older homes is the number and location of electrical outlets. Even in new homes, poorly placed outlets can limit your layout choices and make small spaces harder to work with.
It’s an easy thing to overlook as a first-time home buyer, but not being able to plug in large appliances like TVs or refrigerators means you’ll have to rethink how you want to use your space.
Other Things To Look For When Buying A House
There are a few crucial aspects to keep in mind when house hunting besides the physical characteristics of a house.
Budget
Budgeting should be your first step when you start shopping for a new home. This is especially important for first-time home buyers so you can be as realistic as possible about how much house you can afford.
Even if a property seems like your dream home, it still needs to fit within the price range your lender has approved you for. Some mortgage lenders may be able to increase a borrower’s loan amount depending on their credit score and down payment.
Neighborhood Safety
As you begin to narrow down your home search, make sure the neighborhood where a potential house is located is safe. Check local crime rates to ensure that you and your family will feel comfortable and at ease in your new home.
Check out the neighborhood from an insider’s perspective via social media, like Facebook groups where you can learn more about the area and ask locals questions. If you’re serious about a home, spend some time in the neighborhood. Go for a walk and check out local businesses to get a feel for what it’s like to live in the area.
If you attend an open house, the listing agent may provide you with a flyer with additional information on the neighborhood.
Local Public Schools
The quality of the public education system in an area can say a lot about the overall quality of life in that area. Regardless of whether you have school-aged children, it’s useful to explore local statistics from public schools and factor them in as you make a decision.
Especially if you plan to eventually sell the home, being in a good school district can add value to your property.
The Bottom Line: Learn More About What To Look For When Buying A Home
Ultimately, every house you look at will have pros and cons. It’s up to you to decide which aspects you can’t live without, which ones you can’t live with and which ones you’re willing to compromise on.
Keep in mind that no home is going to be without at least some faults. Even your dream home might need new appliances, a bathroom remodel or a new roof. The goal is to find a house that satisfies most of your needs and wants because no single home is going to check every box.
Buying a new home might feel overwhelming, but home buying is more manageable if you know what to look for and what questions to ask. Are you just starting the home buying process? Apply for a home loan today. You can also give us a call at (888) 452-0335.
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FAQs
What is the #1 feature to consider when buying a home? ›
1. The location. Location is the one thing about a house you can never change no matter how much money you spend, so it's absolutely critical that you confirm any property you buy is in a convenient spot. This chart displays offers for paying partners which may impact the order in which they appear.
What are 5 things to know before buying a house? ›- #1 Your Down Payment May Not Be the Biggest Hurdle. ...
- #2 You Probably Will Have to Compromise. ...
- #3 Be Emotionally Ready for Financial Surprises. ...
- #4 A Mortgage Can Be Cheaper Than Rent. ...
- #5 Your Lifestyle May Call for Buying Instead of Renting.
- Not Starting The Approval Process Early. ...
- Looking At Only One Mortgage Rate Quote. ...
- Not Working With A Real Estate Agent. ...
- Buying More Home Than You Can Afford. ...
- Not Checking Your Credit Report. ...
- Waiving A Home Inspection. ...
- Spending All Of Your Savings. ...
- Not Saving Up Enough Money.
Whether you are a first-time homebuyer or a seasoned investor, here are some of the most important things to consider when buying a home: Debt-To-Income Ratio. Duration of stay. Job security.
What gives a house the most value? ›- Clean and declutter. ...
- Add usable square footage. ...
- Make your home more energy-efficient. ...
- Spruce it up with fresh paint. ...
- Work on your curb appeal. ...
- Upgrade your exterior doors. ...
- Give your kitchen an updated look. ...
- Stage your home.
- Remodel the kitchen. Updates to the kitchen pay off. ...
- Upgrade the appliances. ...
- Boost the bathrooms. ...
- Remodel the attic or basement. ...
- Get decked out. ...
- Boost curb appeal. ...
- Improve energy efficiency.
Making your house more efficient, adding square footage, upgrading the kitchen or bath and installing smart-home technology can help increase its value.
What are the two basic features of a good house? ›- The home should be airy and well-ventilated. ...
- The design of the interiors should be ergonomic. ...
- The material used in construction should be of good quality. ...
- The height of the ceilings should be between 10-12 feet.
- Why is the seller moving? ...
- What comes with the property? ...
- How old is the roof? ...
- How old — and how efficient — is the heating and cooling system? ...
- Are there any disclosures? ...
- Are there any problems with the house? ...
- Have you made any additions or renovations? ...
- What's the water pressure like?
It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly payments.
What questions should you ask before buying a house? ›
- What's The Risk Of A Natural Disaster? ...
- Are There Health Or Safety Hazards? ...
- How Old Is The Roof? ...
- Are The Major Systems Of The Home In Good Condition? ...
- What Is The Monthly Cost Of Utilities? ...
- What Appliances Are Included In The Sale? ...
- Have There Been Any Additions Or Renovations?
- Failing to check your credit score.
- Getting into debt.
- Making a huge purchase.
- Changing jobs.
- Making large deposits.
- Not making payments on time.
- Undesirable items on Bank Statements.
...
2. How much will I pay in closing costs?
- Appraisal fees.
- Inspection fees.
- Lawyer or notary fees.
- Land transfer taxes.
- Title insurance premiums.
"Generally, going with neutral colors like shades of white, beige, taupe, and grays lead to a faster sale," she shares. "Neutral colors are also more appealing to potential buyers because many want the creative freedom of a blank canvas to add their personal touches to when looking for a new place to call home.
What negatively affects home appraisal? ›What negatively affects a home appraisal? One of the big things that can have a negative affect is the age and condition of the home's systems (HVAC, plumbing) and appliances. If the local market is declining, that'll also hurt your home's appraised value.
What is the biggest selling point of a house? ›- THE OUTSIDE. It's trite but true: You don't get a second chance to make a first impression. ...
- LOCATION. Today's homes have to be conveniently located for homebuyers, agents say. ...
- GARAGE. ...
- KITCHEN. ...
- MASTER BEDROOM. ...
- BATHROOM. ...
- STORAGE SPACE. ...
- BASEMENTS.
- Prices of Comparable Properties. Comparable home sales in the area will influence a home's listing price. ...
- The Neighborhood. ...
- The Home's Age and Condition. ...
- Property Size. ...
- The State of the Housing Market.
Key Takeaways. Water features like hot tubs and pools don't add home value and can cause disinterest from potential buyers. Installing garage doors has a 94% return on investment. HELOCs and cash-out refinances are two options to help pay for home renovations.
What do appraisers look for? ›The appraiser will consider all factors that could affect the property's value. These factors include the condition of the property, any upgrades or additions made to the property, the size of the lot and “comps” or recently sold properties of comparable size and condition in the same market.
What decreases property value? ›Changes in the real estate market can lower the value of your home. Natural disasters and climate change can lower your property value because the property is a greater risk to purchase. Foreclosures in your neighborhood can also drive down property value.
What makes a house harder to sell? ›
Factors that make a home unsellable "are the ones that cannot be changed: location, low ceilings, difficult floor plan that cannot be easily modified, poor architecture," Robin Kencel of The Robin Kencel Group at Compass in Connecticut, who sells homes between $500,000 and $28 million, told Business Insider.
How to stage your home to sell for top dollar? ›- Clean & Declutter Your Home. Photo via @sharon_arny_interior_design. ...
- Remove Personal Items. ...
- Furnish Empty Spaces. ...
- Let in Natural Light. ...
- Hire a Professional Photographer. ...
- Choose the Right Paint Color for Your Walls. ...
- Spruce Up Your Curb Appeal. ...
- Upgrade Carpets & Floors.
- Red Flag #10: Neighborhood sell-out.
- Red Flag #9: Foundation cracks.
- Red Flag #8: Water damage.
- Red Flag #7: Termite damage.
- Red Flag #6: Condensation in windows.
- Red Flag #5: Doors that won't close.
- Red Flag #4: Sloping floors.
The kitchen and the master bathroom. Buyers tend to show more interest in these rooms than any other in a home.
What is the first thing to do when viewing a house? ›- Drive by. First impressions shouldn't be underestimated. ...
- Be prepared. Make a list of all the things that are important to you and any questions you want to ask before the house viewing. ...
- Take a friend. ...
- Check the outside of the property. ...
- Be thorough. ...
- Check the plumbing. ...
- Check the bills. ...
- What's included?
- Create Kerb Appeal. First impressions can be made even before a potential buyer has set foot inside your home. ...
- Create Space. As discussed above, creating a blank canvas for potential buyers is essential when selling your home. ...
- Clean. ...
- Neutral Colours. ...
- Lighting.
Ultimately, there is no right or wrong answer although it's almost always a good idea to view a property more than once before making an offer. Typically, people will view houses between 2-4 times before making an offer, but you should view a property as many times as you need to to be sure it's the right one for you.
How accurate is Zillow Zestimate? ›How accurate is the Zestimate? The nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%. The Zestimate's accuracy depends on the availability of data in a home's area.
How do you know if a house is valued correctly? ›- Step 1 - Check historical sold prices in the area. A property is ultimately worth what someone will pay for it. ...
- Apply the most recent % change in value. ...
- Adjust for factors that affect a property's value. ...
- Get an independent valuation.
- Improve your house's curb appeal. ...
- Mow and clean up your yard. ...
- Examine the exterior of your home. ...
- Document all of your home upgrades. ...
- Give your home a deep cleaning. ...
- Patch up any imperfections. ...
- Let the appraiser do their job. ...
- Be open to the appraiser's questions.
What credit score do I need to buy a $250000 house? ›
While credit score requirements vary based on loan type, mortgage lenders generally require a 620 credit score to buy a house with a conventional mortgage.
What credit score is needed to buy a 300k house? ›Some mortgage lenders are happy with a credit score of 580, but many want 620-660 or higher.
Is it smart to put 5 down on a house? ›It's better to put 20 percent down if you want the lowest possible interest rate and monthly payment. But if you want to get into a house now and start building equity, it may be better to buy with a smaller down payment — say five to 10 percent down.
Who pays closing costs? ›Closing costs are paid according to the terms of the purchase contract made between the buyer and seller. Usually the buyer pays for most of the closing costs, but there are instances when the seller may have to pay some fees at closing too.
What I wish I knew about buying a house? ›- Know What You Want. The question is simple, but it'll determine your entire hunt. ...
- Stick to a Budget. ...
- Find the Right Agent. ...
- Get Your Mortgage in Order. ...
- Know Your Market. ...
- You Can & Should Negotiate. ...
- Order a Professional Home Inspection. ...
- Contingencies Are a Thing.
- How long have you been looking? ...
- Are you working with another salesperson/broker? ...
- How many are in your family? ...
- Do you own now or are you renting? ...
- Must you sell or complete the lease period before buying? ...
- Have you seen any homes/investment properties that you really liked?
- Why is the seller moving? ...
- What comes with the property? ...
- How old is the roof? ...
- How old — and how efficient — is the heating and cooling system? ...
- Are there any disclosures? ...
- Are there any problems with the house? ...
- Have you made any additions or renovations? ...
- What's the water pressure like?
- How long has the property been on the market? ...
- Has there been much interest in the property? ...
- What's the area like? ...
- How long have the owners lived there? ...
- Has there been any major renovations done recently? ...
- Is the property listed or in a conservation area? ...
- What's the water pressure like?
- Turn on and off every light fixture.
- Run water and check for leaks under sinks.
- Test all appliances.
- Check garage door openers.
- Open and close all doors.
- Flush toilets.
- Inspect ceilings, walls, and floors.
- Run the garbage disposal and exhaust fans.
- Determine if this is the right time to buy. ...
- Create a list of what you want in a house. ...
- Research the market. ...
- Spend some time in your desired neighborhoods. ...
- Check your credit score. ...
- Consider seeking help to repair credit, if necessary. ...
- Estimate how much money you need for closing costs.
What not to tell your Realtor when buying? ›
“A prospective home buyer should never address with a seller or seller's agent anything concerning their financing or ability to pay a full-price offer,” says Maryjo Shockley, a Realtor with Keller Williams.
How long should you spend viewing a house? ›urges buyers to spend at least 20-30 minutes at a viewing. Even such minimal diligence is likely to pay off. Which? says 52% of buyers who spend less than 10 minutes at a property pay the asking price or above, but 71% of those who spend 90 minutes or more buy for below it.
What not to do when closing on a house? ›- DO NOT CHANGE YOUR MARITAL STATUS.
- DO NOT CHANGE JOBS.
- DO NOT SWITCH BANKS OR MOVE YOUR MONEY TO ANOTHER INSTITUTION.
- DO NOT PAY OFF EXISTING ACCOUNTS UNLESS YOUR LENDER REQUESTS IT.
- DO NOT MAKE ANY LARGE PURCHASES.
- Inspection issues. ...
- Unpermitted work. ...
- Appraisal issues. ...
- Financing issues. ...
- Your house didn't sell yet. ...
- Title issues. ...
- Insurance issues. ...
- Life circumstances change.