5 Things To Look For When Buying A Home

Because the first time home buyers tax credit, many home buyers have come back to the market. Low interest rates, tax credits, and low property values make this a good time to buy a home, but only if you can afford it. Even with the added number of foreclosures, the homes currently for sale have a greater range of physical conditions. If you are a first-time home buyer this process can be overwhelming, but here are 5 simple tips to help you out.

1. Don't let pretty wall colors fool you.

     Try envisioning the house painted white, and focus on the age of the major appliances, condition of the floors, and any signs of mold or structural damages.

2. Look at the age of the furnace.

     Out dated heating and cooling systems can cost you thousands if you have to replace them right away. It should also impact the price you are willing to bid on the house.

3. How old are the windows?

     If they are new, this is good because it will help you with heating and cooling bills.

4. Look at the roof.

     Is the roof caving in? Or is it pretty new? A caving in roof could mean water damage and that's one huge expense you don't want to ahve to pay for.

5. Check for water damage.

     A good indication of water damage is mold. Usually water from outside is leaking in and mold begins to appear. It is usually found along basement walls, so walk along outside to see where this might be happening. It is important to check for this to see how much repairs would cost you up front.

A good rule to remember is that you should always buy a house based on structural integrity rather than its decor and paint colors. A house with ugly walls and ugly carpet is much easier to fix than a cracked foundation. You also need the right realtor!

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