Purchasing a home is a major decision for any family or investor. This investment is often the most expensive one you’ll encounter throughout a lifetime. With that fact in mind, you need to consider the amenities very closely as you narrow down the property selections. Whether you’re looking at homes in the big city or luxury estates in Crystal Lake, Illinois, you must weigh the same features in order to make a smart, home-buying decision.
Land Versus Structural Space
As you pull up to any property, compare the structure’s size to the property lines. Many homes are considerably small, but you have expansive land areas surrounding them. Consider what is important to your investment. If you want to entertain people inside the home, a large structure is more important than the land. Building a guest home or greenhouse, in contrast, means that you value land over the main home’s size. This designation helps you narrow down the available homes in the area.
Proximity to City
Your commute time is another concern. A home located near a highway system is attractive for commuters, but the traffic noise might be a drawback. Ideally, you want to live where you work. As you narrow down your favorite properties, take a test drive between each one and your workplace. This commute alone might narrow the field even further as traffic concerns become a reality.
Water Features and Care
A fountain, pool or lake might be part of the home’s allure. If you’re an investor, the features are perfect for renters or a lucrative house-flipping venture. When you’re planning on using the property as your primary residence, however, water features might be a deal-breaker. These amenities require consistent care that adds to the home’s upkeep costs.
A property amenity that’s incredibly valuable is the neighborhood quality. Walk around the prospective neighborhood, and meet with neighbors whenever possible. You want to feel comfortable in the area’s culture before moving in permanently.
If you’re purchasing a home that’s relatively popular in the area, try to get pre-approved for a home loan before bidding on the property. A pre-approved loan in any amount is attractive to sellers because the funding and closing process is much faster compared to other financial pathways. Your bid may be accepted in rapid time when you have the funds ready to pay down the property balance.