Checklist for Buying Real Estate (or Just Looking)
Regardless of how much preparation you’ve done, if you’re thinking of buying a home, it’s helpful to have a straightforward checklist for
home buying at hand. Here are some basic criteria you might find useful to include in your checklist as you get started on your home-buying search:
The place you want
- Do you have a neighborhood or maybe just a type of community in mind?
- What’s the single most important feature for you — the type of property, size, proximity to schools or work, your family’s needs?
- How much do home features such as a pool or a view matter to you?
- Can you see past the flaws in a property?
- Are you looking for a home where all you need to bring is your toothbrush?
The qualities you desire
- What’s nearby?
- How far is the home from work or school?
- Does it have good proximity to hospitals and family doctors?
- Are there places to learn such as museums, libraries and bookstores?
- How far is the nearest supermarket or drugstore?
- Is it located in a community with a tight-knit feeling, or do you treasure privacy?
The financing you need
- Are you financially prepared, and do you understand the process of home buying and financing?
- How long are you planning on staying?
- What are your financial goals, and how does a particular property relate to them?
- Is there a way to start thinking about the value of a property in the same way you would view your bank balance or retirement savings?
Make a checklist of what you “must have” versus what you “would like.” For example, you must have a safe neighborhood, but you would also like an active community association. Consider the importance of:
- Good schools
- Low crime
- Residential zoning
- Pride of ownership
- Clean streets and public parks
- Homeowners associations
- Transportation availability
Although knowing the answer to all these questions isn’t necessary, it helps to keep them in the back of your mind, as you start looking.