Home Buying Tips for 2005

If 2005 is going to be the Year of the New Home for you and your family, there are several important factors you mustnt overlook when involved in this hectic process. Busey Banks Susan Abbott has a few of them: Home buying is a big step for many of us - for most it may be the biggest investment we make. Usually home buyers are prepared for financial items such as purchase contracts, financing, negotiations, and closings. Are there others we might miss? Check out the jurisdiction youll be under. Make sure you know exactly which city or town in which the home is located. Are you considered in the city or the county? Different municipalities mean different laws, taxes, zoning, police and fire protection, library, trash and sewer services. Homeowner associations. Determine if there is a homeowners association youll be required to join. There may be dues to pay and possibly required memberships in social or athletic clubs. Find out how the association governs itself. Talk with neighbors to find out how strictly or loosely the rules are enforced. Comparative size. Weve all heard the tenet location, location, location. Generally speaking, in terms of resale, its better to buy the smallest home in a block of bigger homes that it is to buy the biggest home among smaller one. The big home neighborhood might have a more positive impact on its smaller homes resale value. Zoning. A strip mall or mega-store may be pencilled in for that vacant lot across the street where the kids play baseball. Buyers in new and established subdivisions have been surprised to find out a lot thats been empty for years will soon give way to a high-traffic, brightly lit 24 hour super center. Talk with your realtor about the details of nearby non-residential zoning and what could be built on it. Check with the city planning department or zoning board to determine what uses are allowable in your new neighborhood. Traffic and noise. Make several visits to your new neighborhood at different times of the day and night, and different times during the week as well. Is it quiet during the week and rowdy on the weekend? Visit the neighborhood early in the morning and drive to your job, and your childrens schools to determine if there are any pitfalls to your relocation. Be neighborly before you move - chat with a neighbor or two down the street and find out the real story. JH 1/5