Although price, size, and location are important factors to consider when purchasing a home, they are not the only factors that go into a house’s “livability.” Soleil Sotheby’s International Realty recognizes that buying a home may feel like a never-ending list of things to consider; however, to avoid buyers’ regret, it’s crucial to consider commonly overlooked factors during your home search.
Can you hear cars on the street? Your potential neighbors? Have you heard planes in the last ten minutes? When touring a home, viewers can be so preoccupied with all the amenities that they forget to check for outdoor noise. Although you may not notice that the house is under a flight path during your tour, it will significantly impact your daily life and your home’s potential resale value.
Ongoing Expenses that Quickly Add Up
Going over budget when purchasing a home is quite common, as extra expenses can quickly add up. To avoid becoming house poor, homeowners should be aware of short- and long-term costs that often tie into a home’s amenities. A home with a pool may seem like a dream come true; however, this will usually include year-round pool maintenance, a massive backyard may cost a thousand dollars in lawn care, and a vacation home expensive hurricane insurance. Always consider what extra amenities may cost and create a rough estimate to ensure you and your family do not go over budget.
Not Having Adequate Storage
Although no basement may not seem like a dealbreaker, storage is often one of the most crucial elements to a well-organized and de-cluttered home. Families without proper storage may face difficulties storing seasonal items such as decorations and coats, outdoor equipment, AC units, and other items. While you may be willing today to purchase a $200 a month storage locker 10 miles away, it may prove to be a challenge in the future. Before buying a house, consider the minimum amount of storage you need and search for homes that can accommodate.
Potential Resale Value
When purchasing their first home, first-time homeowners will often overlook their home’s resale value. When working with a tight budget, couples are often less concerned that their home has one bathroom, a busy street, or poor curb appeal. These couples often make the mistake of assuming that because they did not mind these factors, future buyers also will not. This can be a costly mistake and may leave homeowners struggling to find a buyer when they later try to sell their home.