What To Look For When Buying A Home

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Below is a list of points to consider when buying a home, whether you're buying your
first home or are looking at something new these can help make the job easier. Some
of the points will be expanded in future posts.

Pick the Area
A mistake we made when we bought our first house was not giving our real estate
agent an area to focus their search when looking for a place for us. We ended up
travelling around the city looking at different places until we basically just got tired of
looking. Real estate agents have areas they're familiar with and can provide
tremendous value when looking at tends, prices, etc.

Research the Area
Another mistake we made was not researching the area fully before putting an offer in.
Not having kids at the time we bought, we didn't take into consideration the schools in
the area. Somethings to check;

Schools
Access to transportation, subway, bus routes, highway
Crime rate
Property Taxes

It's also a good idea to drive around the area, see what it looks like in the daytime,
night, and weekends. Would really suck if you moved in only to find the cute little
strip mall across the road has an after hours club that runs till 6am.

Get an Agent
As stated above an agent that works in or is familiar with the area you want to live can
be a huge advantage when looking at property. They know the value of the properties,
what similar properties sold for, how long listings have been on the market, can help
researching the area, etc. Easiest way to find an agent in the area is to look at the For
Sale signs, if you see the same name on several houses it's a good bet that person
knows the area well.

Get a Lawyer
It's a good idea to get a lawyer close by, you'll need to make a few visits to the office
and if you're in one part of the city and their at the other it can be a real pain. Also,
check out their fee schedule, some charge more, some less, just keep in mind that
you'll need approximately 1.5% of the house price for closing costs.

Find out the Costs
Talk to your real estate agent about their fees, usually they get paid by the seller but
make sure. Talk to your lawyer, they should have a fee schedule and can give a pretty
good estimate as to how much the closing costs will be. Other costs to consider:
Home inspector
Moving expenses
Utility hookups

Conclusion
Buying a house is not an easy process, it takes time, planning and can be very
stressful but if you know what you want, where to look and how much it'll cost it can
be a tonne of fun.