Establishing Your Homebuying Property Preferences and Priorities
You probably already have an idea of your target area and preferred home. If not, you should take the time to consider your preferences and prioritize them. You may not find everything you are looking for, but a prioritized list will allow you to more easily make the tough choices.
Here are some general categories to consider, all of which will be discussed in more detail below:
- Location and general area of property
- Neighborhood quality
- Site and external features
- Mechanical requirements
- Interior space and condition
- Financial limitations
Location and General Area of Property
Your current needs will be the primary determinant of housing choice. The following are specific issues regarding location and the general area of the property:
- Specific area of town/county. Is there a specific trendy or small-town-feel neighborhood that most attracts you? Do you wish to target a certain area so that you or your spouse can be closer to work? As most people already know, location, location and location are the key elements of real estate.
- Zoning mix. Are you looking for a more urban, cosmopolitan area with intermixed businesses? Or are you looking for a more isolated rural community? Or perhaps somewhere in between? In addition, the area’s zoning mix says a lot about how the local zoning board manages the area’s growth and development.
- Distance from public transportation. Will you be depending on public transportation, and if so, how available is it to the subject property? It is often the case that the most secluded areas will have the least amount of services, including transportation.
- Quality of schools. Will you have school-age children? How are the area schools rated for academics and safety? The quality of education is often the most important consideration for both homeowners with school-age children and homeowners without, because quality education tend to nurture stable neighborhoods.
- Distance from churches/temple. How far is the subject property from your preferred place of worship?
- Availability of shopping. How far is the nearest grocery store, pharmacy, hardware store and shopping center?
- Major highways and streets. How close are the nearest highways and major arterial streets? How close do you want to be?
- Quality and availability of parks & community centers. Does your target area have parks and community centers? What are their quality, condition and services?
- Existence of utilities/ditches. Are there major power lines or drainage ditches near the subject property? What types of utilities and services are available from the county or municipality? [If the property is in an unincorporated area, you will probably require a well, septic tank and sump pump.]
- Flood zones. Is the property in a flood zone? Is it near a flood zone that has been built-up or improved [which may force water on to your land]? Most municipalities and counties actively discourage development in flood-prone areas.
- Specific placement in a block or street. Are you looking for a property located at a corner? Or in the middle of the street or cul-de-sac? For example, corners are great for commercial properties, but not as attractive for homeowners.
Neighborhood Quality
The greatest influence upon the property’s value is most often the neighborhood and geographic area surrounding the property. The homebuyer should visit the neighborhood of the selected property a few times at different hours to measure its overall condition, cleanliness and security.
- Level of street traffic and noise. What is the level of street traffic and noise in the neighborhood? Is it acceptable for your personal, family and safety needs?
- Adequacy of lighting and security. Does the street have adequate lighting? Does the area seem secure during both the day and night? What is the crime rate for the area and specific block?
- Condition and cleanliness of streets. Are the streets well-maintained or are they in need of repair? Are they cleaned regularly? Do the neighbors maintain their street-side property?
- Type of utilities installed. What type of utilities are available from the local government?
- Condition of alley. If there is an alley, what is its condition? Is there adequate lighting and security?
- Type of garbage service. What type of garbage service, if any, is provided?
- Overall condition of neighborhood. What is your perception of the overall quality and condition of the neighborhood during the day and during the night?
Site & External Features
Much of the information for the property’s site and external features can be gleamed from the listing or sales information sheet. However, it is not a bad idea to confirm these data with a quick visit to the property.
- Size of lot. What is the size and dimension of the lot?
- Condition and size of yard. How important are green spaces and yards for you? Are you seeking a large yard for gardening or a swimming pool?
- Type of fencing. What type of fencing does the property employ for security and privacy? Is it sufficient? Does it need to be repaired or replaced?
- Condition and type of garage and driveway. Does the property have a garage? Where is it located? Attached or detached? What is the condition of the garage and driveway? Is it of sufficient size for your needs?
- Number of stories. How many levels does the house have? Is that acceptable, or are you looking for something with no stairs?
- House style. What is the design style of the house you are seeking? Tudor? Georgian? Cape Cod? Split Level? Ranch? Victorian? Spanish Colonial?
- Construction type (wood, brick, etc.). Are you looking for a property with a wood frame, brick or steel frame? Are you looking for more environment-friendly features? Do you prefer an older home with character or a newer home with better amenities.
- Condition of siding. Do you prefer low-maintenance siding, such as aluminum or vinyl? Or the rustic look of cedar shingles? Does the subject property’s siding need to be painted, repaired or replaced?
- Condition of windows and doors. Does the subject property have secure doors and windows? Are they also weather-proofed to conserve energy more efficiently? Are there enough windows to provide sufficient sun-light?
- Quality and type of porches and decks. Are you looking for a property with porches and decks (for that traditional, small-town flavor)? What type and style are your preferences? If the property does not have any, can you add them on at a later time?
Mechanical Requirements
As you interview the seller or seller’s agent and as you visit the property, take notes about the mechanical elements of the house. These items have limited life spans, so you can try to factor in their condition and age during your negotiations.
- Heating & hot water. What type of heating and hot water system does the home have? What is the age, capacity and condition of any furnace, hot water tank and heater?
- Air conditioning. What type of air conditioning system does the home have? What is the age, capacity and condition of any window air conditioners that will remain or of any air conditioning system?
- Electrical. What is the age, capacity and condition of the home’s electrical system? Are there sufficient outlets in each room? Are there any electrical outlets or permanent fixtures that are not working correctly?
- Plumbing and water pressure. What type of plumbing system does the home have? Is the water pressure adequate? For example, if you flush the toilet while someone is showering, will that bather get burned or annoyed? How does the tap water taste? Is the water from a well?
- Drainage and sewage systems. Does the property require a sump pump or septic tank? How often does the property’s sewage lines get backed up? What is the age, capacity and condition of any drainage and sewage system?
- Availability and type of outside outlets and faucets. Are outside faucets and outlets available for outdoor work and maintenance? Where are they located? Do they work?
- Condition of permanent fixtures. What is the condition of the permanent fixtures that will remain with the property (i.e., security system, specific lamps, garbage disposal,…)?
Interior Space & Conditions
Before you begin shopping you should also try to itemize and prioritize your space and room requirements. The following are a few reminders of rooms to keep in mind:
- Dining room. How large of a dining room, if any, would you prefer? What furniture and items will you store there or decorate with?
- Living room. How large of a living room, if any, would you prefer? What furniture and items will you store there or decorate with?
- Den and family room. How large of a family room or den, if any, would you prefer? What furniture and items will you store there or decorate with? Are you looking for a fireplace?
- Common closets. How many and what size common closets, if any, would you prefer? What furniture and items will you store there or decorate with?
- Kitchen. How large of a kitchen, if any, would you prefer? What furniture and items will you store there or decorate with? How much pantry and cabinet space do you require?
- Kitchen appliances. In addition to the stove, oven and refrigerator, are you looking for a dishwasher and garbage disposal? What are the ages, capacity and condition of all the kitchen appliances?
- Bedrooms. How large and how many bedrooms, if any, would you prefer? What furniture and items will you store there or decorate with? How much closet space do you require?
- Bathrooms. How large and how many bathrooms, if any, would you prefer? What furniture and items will you store there or decorate with?
- Basement and attic. Do you prefer a home with a basement and attic? How large? Will it be used for storage or do you wish to have them finished and improved? Will you have enough storage space?
- Laundry machines & dryer. Will the seller leave the laundry machine and dryer? What are their ages, condition and capacity?
- Flooring. Do you prefer hardwood or carpeted floors? What is the condition of the property’s floors? Will they need to be cleaned, repaired or replaced? Do they creek?
- Walls, ceilings and stairs. What is the condition of the property’s walls and ceilings? Do they need to be repainted or repaired? Do the stairs creek?
Financial Limitations
The buyer should also interview the seller for financial information regarding the property. Such data may help the buyer with negotiations and the mortgage:
- Seller reason for sale or move. Why are the seller’s selling? Are they in a hurry to sell their home? Has this been factored into the sales price?
- Property taxes & assessments. What are the property tax, homeowner association dues and other assessments on the property? Do the sellers receive any special discounts, such as senior citizen or homeowner’s exemptions?
- Insurance premiums. What are the seller’s current hazard and flood insurance premiums?
- Utility bills. What are the seller’s average annual charges for electricity, water and gas? Has the home been weather-proofed to save money?
- Necessary improvements. Does the property need major repairs or improvements? If so, what are they and what are their projected costs?
