Sarasota Real Estate Market News

What buyers often overlook in home purchases

WASHINGTON – May 7, 2012 – While a home’s appearance, financing and location sway many buyers, housing experts say they often overlook other important factors that may keep them happy for years to come with their home purchase.

A recent article at U.S. News & World Report lists tips for those often-forgotten aspects of homeownership. Here are some of those overlooked aspects:

Zoning of nearby areas: What you see today may not be what you see a few years from now. Communities’ and neighborhoods’ landscapes can drastically change in a few years. And while some of these changes may be good – such as the addition of a nearby recreation park or school – some may be viewed as a negative, like a new highway overpass behind the property. By reviewing upcoming plans and existing zoning at the city’s urban development department, home buyers can get a better idea of what the future may hold for the surrounding area of the neighborhood they choose.

Remodeling rules: Some community associations may set limitations on what can be done to a property, particularly if the buyer ever wants to make exterior changes like adding a garage or guest house. Purchasers who plan to have a house grow with their family’s needs through the years may want to investigate such rules beforehand to make sure that they’ll be able to add onto their home as needed.

Impact of crime rate: Home purchasers may not realize how buying a home in a low-crime area can help their budget. Car insurance, for example, might cost less in a neighborhood where property has historically been safe.

Source: “4 Not-So-Obvious Things to Research Before Buying a Home,” U.S. News & World Report (May 2, 2012)

May 19, 2012 - Posted by | News related to Buyers

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