Questions To Ask Before Purchasing A Home

Whether you're purchasing your first home or your fourth, there a few critical questions you should ask yourself, according to Ilyce Glink of Tribune Media Services. (Click on our post title to read the whole article.)

• Where does this purchase fit in my cycle of life?
  Think about why you are moving and how long you plan to stay. Most people live in a house 5 to 7 years.
  
• How much do I want to spend?
  In addition to mortgage, insurance and taxes, budget for the cost of maintaining, repairing and renovating the property. If the home is a vacation property, you'll need to consider the cost of having a third party do this in your absence.
  
• Should I buy my own place of a piece of something else?
  Second home or investment property accounted for 40% of the homes purchased last year. Time shares, hotel condominiums, high-end vacation clubs and other forms of partial ownership are becoming increasingly popular given the expense of second home ownership and maintenance but may be hard to sell and may not retain their purchase value.
  
• How much should I consider location and lifestyle amenities?
  Depending on your stage of life, school districts, work commute, distance to friends and family, crime statistics, recreational opportunities, closeness of shopping, library and place of worship, all may factor into your decision.

Take your potential new neighborhood out for a test drive. Visit the local library and school, take the kids to play in the local park and eat in local restaurants to determine whether the location works for you. Homes Buy Day can help you find the right fit. You'll find my website and newsletter packed with helpful information about the area. A longtime resident myself, I'm familiar with every aspect of the area and can help you find a home in the neighborhood that's right for you. Call me today.