Things First-Time Homebuyers Wish They’d Asked

Buying a home is a process full of unknowns, especially when you are a buying your first home.  There is so much advice on how to get the best interest rate, buying down points, improving your credit score, etc. Make no mistake, the financial part of home ownership is important.  But what happens after you move in?  What do homeowners wish they knew before signing the ream of paperwork committing them to 30 years of mortgage payments?  What makes a home and a neighborhood pleasant place to live?  I dug into the first-time homebuyer subreddit and found the following trends.

Over the next few weeks, I will explore some of the things that people said they wish they had known

More About the Neighbors and Neighborhood

A significant number of users expressed regret over not investigating the neighborhood and their immediate neighbors more thoroughly. This includes checking for noise levels at different times of day, potential disputes, and the overall community atmosphere.

“Figure out who your neighbours will be. A bad neighbour can be a game changer. S

o drive by at different times of day to get a sense of the neighborhood.”

This is so important. What is the state of repair on y0ur future neighbor’s homes?  Look for

neighborhoods where the homes are generally well maintained. Landscaping is another indicator of a neighborhood where the homeowner’s take pride in their homes.

Environmental Nuisances

Other things I encourage clients to consider are proximity to train tracks, busy highways and industrial/warehouse zones.  These can contribute to noise and air pollution.  They can also make getting into and out of your neighborhood challenging and cause rapid deterioration of the streets.

Similarly, look at how much vacant land surrounds a neighborhood.  What is that land zoned for?  What is on the other side of that stand of trees? That wooded lot could become a strip center, a warehouse, a highway or another neighborhood.  I’ve seen property values slashed on half-million dollar homes because a warehouse ruined the aesthetic and desirability of a neighborhood.

Rentals

How many rentals are in the neighborhood?  Your realtor can give you a good idea of how many homes are owner-occupied or have absentee owners.  While this is not a guarantee that all those homes are rentals because some may split there time in different states, it is a good gauge of stability of your neighbors. A higher percentage of owner-occupied homes generally means observable pride of ownership which translates into stable and appreciating property values.

Walk Around

Finally, it is a good idea to walk around and talk to neighbors. Take a walk in the evening or weekend.  Any party houses or especially difficult neighbors?  How many cars are parked on the street?  Are the neighbors friendly? Is there a neighborhood watch?  How strict is the HOA?

While this is not an exhaustive list of things to consider, it reflects the top concerns I hear from clients and the things I’ve learned from being a homeowner.

When I work with a client, we sit down and talk about Needs, Expectations, Wants, Priorities and Outcomes.  These are different for everyone I meet with.  If you would like to work with an experienced professional who will work with your interests as the top priority, call me or fill out the contact form.  Check this page to search for active listings.