6 Things That Are Overlooked When Buying a Home
Buying a home is a complex process and there are many things that are often considered in a short period of time. Below you will find six important things that are sometimes overlooked before home buyers close the deal.
Travelling to Work
If you’re moving to a new neighbourhood or new city, have you assessed how much time it will take you to get to and from work? Many buyers realize this after they have closed the deal on their home and sometimes underestimate this Unfortunately there is no formula for coming up with the travel time, the best way to know is to travel this route during rush hour - this will be the most reliable way to know how long the travel time will be.
The Neighbourhood at Night
Some neighbourhoods are quiet during the day, but that can change during the night. A lack of light during the nighttime can make the area feel less safe. One of the best things to do is to check out the neighbourhood during various times of the day to see if there is a change in the dynamics of the neighbourhood.
Declaration of Co-ownership (Condos)
It is essential that you pay attention to a condominium’s declaration of co-ownership as its purpose is to establish the rules that govern cohabitation in the building, as well as its administration. It is this document that stipulates the purpose of the building, the distribution of common costs between the co-owners, the definition of private and common areas, etc. Thinking of renting your condo on a short-term basis? The declaration of co-ownership will tell you whether you can do so.
Are you positive about the number of bathrooms that your property has? Think of your weekday mornings and if there are enough bathrooms for the number of occupants and if there will be line for the bathrooms.
Buyers often forget about the fact that one day they will have to sell their property. It is always best to keep it in the back of your mind when you are looking at homes the resale value of the property you are looking at.
Space for Future Needs
Even though you may need to move some day, the fact is that your current needs could change unexpectedly. One thing to consider is if you will have enough room for a home office (if the opportunity for one arises)? One thing to keep in mind is that your new home should be able to adapt to some of life’s unexpected situations.