The decision to purchase a house shouldn’t be taken lightly. Real estate is one of the most expensive investments that most of us will ever make. It’s okay to take all the time you need to make an informed decision.
Every prospective buyer has certain things that they want or need in their next home. Some items may be more important than others. Buyers can start thinking about those elements as soon as they know that they want to own a residence.
Buying a home in Utah will take time. The sale may not be finished for a few weeks or months. There are certain tasks that must be completed, several of which require the involvement of certain specialized industry professionals. There could even be unexpected delays or other problems along the way. Focus, determination, and a proactive plan of action can help you achieve your goal.
Here are a few things to keep your eye out for when buying a home:
1. Location. Location is usually the most important aspect of house hunting. It’s also one of the few things about a home that can rarely ever be changed. The right location can make all the difference between success and failure in a real estate transaction.
The ideal property should be in a popular area. It may be in a community that has experienced fast growth or is part of a new housing development. Some of the most sought-after homes are very close to schools, doctor’s offices, shopping centers, and other local businesses. Of course, some buyers prefer to have a lake home or a place that’s away from the city so that they can “get away from it all,” but they shouldn’t be too far away from stores, hospitals, and various services.
2. Price. Price is also one of the key factors in the majority of home sales. The price that you pay for a particular property should be reasonable, based on what the market will bear and current economic conditions. Many sellers spend a considerable amount of time determining a price that can help get their house sold quickly.
Setting a price that’s too low could lead them to start fielding offers before they’re ready. On the other hand, establishing an asking price that’s too high may make that home seem out of reach for most buyers. It could also cause the house to sit unsold for weeks, months or even years at a time.
3. Amenities. Adding the amenities that are included with a home can make it easier for that listing to stand out, especially in a crowded market. Buyers will want to know what the house comes with and what it doesn’t. That way, they can start planning and budgeting for the things that they will need if they purchase that house.
Home buyers may have a want list of amenities that they’re looking for in their next residence. They can negotiate with a seller regarding appliances and other items that they would like to have left behind in the house after the sale. The seller may be willing to accommodate those requests but could adjust their price accordingly to meet those demands.
4. Lot and property size. Every home listing should state the property and lot size. People will use that information in their home search. Certain buyers, such as large families, will usually want as much living space as their budget will allow. Others such as young families or retirees may be content with a smaller home and lot in a quiet neighborhood.
The property and lot size that’s in your real estate listing should be accurate. You can call in a property surveyor if you want to confirm the property border lines and lot size. You can also verify the lot size by using a property plat map, reviewing the property deed, or researching data that are available from your local geographic information system (GIS).
5. Cost of living. The cost of living has been especially important nowadays, as inflation has continued to rise. Homeowners don’t want to be priced out of their dream homes. They need to be able to make their down payment as well as their monthly mortgage and utility bills and keep up with routine repairs and maintenance issues as they arise.
6. Taxes. Taxes are an often uncomfortable but necessary part of home ownership. Property taxes, sales taxes and other taxes may play an important role. You can contact your local county assessor or other respective government office to find out what your property taxes will be after buying a home.
Most property taxes are paid either biannually or annually. You can also check property tax records to estimate just how much you’ll be paying in property taxes. Keep in mind that tax rates are always subject to change in most areas from one year to the next.
7. Nearby attractions and points of interest. When a person is looking for homes, they usually drive through different neighborhoods. Most of them pay close attention to things like schools, churches, parks, stores, and other amenities. The proximity to these and many other features may even be included in certain real estate listings.
You can go online and view area maps for houses that you’re interested in. Most of them should have details about grocery stores, libraries, government offices, bakeries, and many more points of interest that are nearby. You can also visit those organizations’ websites to learn more about them whenever you want.
8. Any applicable association dues and rules. If the house that you’ve had your heart set on is part of a condominium or townhome association, there may be association dues that must be paid. These dues may be paid monthly, quarterly, biannually, or annually.
You should receive information about the particular association after the sale has been completed. You’ll know what services are covered and which ones are not. You can also find out how frequently dues are paid and the details regarding lawn maintenance, snow removal, vent cleaning and street and driveway paving, for example.
These are just some of the many items that home buyers are interested in. You can always talk to your realtor if you have questions or concerns. Your mortgage lender may also provide you with some valuable advice when looking at houses. You don’t have to make an offer on the first home that you see or visit. If something doesn’t feel right, you can always move on to the next property on your list.
After an offer has been accepted and a purchase agreement is drafted, it won’t be very long until the transaction has been finalized. At closing, all remaining paperwork will be signed and filed. The buyer will be paid for the net proceeds. You’ll be given the keys to your new home and can move in at any time. You can breathe easy knowing that the house that you’ve wanted for some time is finally something that you can call your own.
Contact Jackie Ruden Realty Team
Give us a call today at (435) 272-7710 to set up a time to discuss your current and future real estate goals in regards to buying a home or buying a property in trust. We look forward to working with you to make your goals a reality.