Finding a home that you can see yourself in for the next five to twenty-five years is a great feeling. Don’t let that feeling cloud your judgment and leave you with unexpected issues after the closing.
Here are a few things to consider before you buy:
1. Talk to a lender. It’s important to choose a lender who you are comfortable with. We have many fine local lenders and I can recommend a few if you do not already have one. Your lender will help you understand what your total monthly home cost will be. Total monthly payments will include your monthly mortgage payment, any possible homeowner association fees, utilities, taxes and insurance. Make sure the total cost fits in your budget.
2. Evaluate possible repairs or immediate improvements. In your purchase negotiation you may decide to ask the seller to repair them. If the seller agrees to repair or improve any item of the home, be sure to incorporate that into your sales contract.
3. Hire a local expert who understands the area to do your home inspections. Consider attending the home inspection.
4. Become familiar with all the vital systems that connect to the house (electrical, plumbing, heating, sewer, and water.)
5. For example, there are many different types of heating systems, and public sewer and water systems are very different than having your town well and septic system. Investigate each of these systems.
6. Get to know the neighborhood. Drive around and get a feel for what it would be like to own a property in the area. Be sure and investigate the Homeowner’s Association.
7. Know the local political landscape. Are there any issues that you should know about? Make sure that you understand how utilities, schools, and public services are funded.
8. Ask for a utility history. Confirm that your budget will match what your new home is going to cost on a monthly basis.
9. Research the Treasure Valley area to understand its economy, climate, and other variables that will be part of your long-term life style.
If you’re considering a move, or hear that any family, friends, neighbors or colleagues are, please feel free to contact me.