Buying real estate involves a large amount of effort, time and money. Due to the resources required to complete any transaction, the decision to buy property needs to be calculated on many different levels. It’s common for people to put too much emphasis on property numbers such as square footage and price.
While these types of factors ought to be considered, it’s important for potential homeowners to dig deeper and make their decision a better-rounded one. This article attempts to expose factors of real estate properties that should weigh heavily in any decision, but are often left out of a listing. These decisions are too important to have a narrow focus, and so the following points will help expand the scope of things to consider.
Below are some important considerations, other than the sale price, square footage and number of bedrooms, that buyers should take into account.
1. Proximity to employment.
Many people decide to settle for a nicer home that is more distant from their place of employment. While this is a personal choice, it’s important to analyze this to accurately assess a property. Listings highlight certain features, but they are not tailored to you personally. Just because the home in 'neighborhood A' is $15,000 cheaper doesn’t necessarily mean it’s more ideal for you. Who knows, maybe you’d save $15,000 in fuel over the next 30 years if the house is within touching distance of your job.
Tip: Make sure you understand what the commute will be like from any property, to your place of work, including but not limited to traffic conditions. If you have children, would you have time to drop them off at school on the way to work? Listings are not be tailored to show distance and commute times from your job, so therefore, the onus is on the buyer to do this themselves.
2. School district.
The particular school district that a property falls within may or may not be listed. But whether it is or not, it’s very important to consider this factor if you have a family. For one, it’s not worth settling in a poorly funded or inadequate school district. Your child’s education is more important than your home, especially when there's likely to be similar one off the next exit. Assess your own family and determine how important the school district is to you. Are your children just starting out? Do they have aspirations of going to college?
Tip: The schooling that your child receives will play a big role in their future. If you are looking for real estate, make sure to find out what school district the property falls within, and what that means for your child’s education. A listing may provide the school district, but it’s your job to follow up and figure out what this means for your family.
As you scour the listings, you see a price and size jump out at you. To save time and effort, find out where exactly where the property is before you make any other move. It’s not worth calling, emailing or dissecting further if you can’t see yourself living in that neighborhood. What are the crime rates like in that area? What types of crime are common? Neighborhood safety for some people is the most important issue when they’re looking for a house. This may not be the case with you, but it’s wise to do some research anyway. Listings that stand out usually are in that spot because of price and other physical specifications.
Tip: Your safety is significant. Listings don’t present negative information because they are trying to sell something. This should be enough of a motive to spark interest when it comes to neighborhood safety. Peace of mind is vital when you have to balance everything else in life. Focus on a listing that would enable your family to live without the fear of danger.
The physical components of real estate drive the market. Just don’t let them define your choice. Your decision should be founded but not decided upon the physical structure and price. It can’t be stressed enough how much you need to apply your personal situation to each and every listing you encounter. You are the only one that has the ability to decide what is right for you and your family, and it’s important to consider all factors before scheduling a closing date.
About the author: Naomi Broderick is a professional writer who’s secure in her abilities and even more confident in her parenting. When she’s not juggling her three children in the front yard she writes for ProtectYourHome.com, a leader in home security tips.