7 Questions to Consider When Purchasing a Home, According to NJ Real Estate Agents

NJ real estate agents advise the top things to consider before buying a home

 

Buying a home is likely the most stressful and biggest financial investment an individual will likely make. There are many thoughts and feelings involved in the shopping and purchasing of a new residence, and research should be done by you as well as an NJ real estate agent in order to decide if a house is the right one for you. There are a number of variables that can have a significantly detrimental effect on the resale value of the home such as location, proximity to the workplace or transportation, surrounding area, and of course, price.

The following are 7 things to consider when in the market for your next home:

Is There Room for Growth?

NJ real estate agents advise that considering potential future growth for yourself or your family is important when shopping for a home. Single family homes offer the most flexibility regarding expansion, whereas condominiums do not. It is best to verify local zoning and ordinances prior to buying if you plan to expand in the upcoming years.

How Old is the Home and its Components?

It is important to know the age and condition of certain features of a home such as foundation, roof, water heater and furnace. This information will save you from potentially spending a large amount in the long run for repairs or replacement.

What is the Contour of the Lot?

According to NJ real estate agents, it is important to identify the shape of the lot in which your home is on. Just as homes are built in varying shapes and sizes, the nature of the land that your home rests on can vary. Also, your usage of the land can be impacted by the contour of the lot.

What Type of Ownership in the Land Would I Have?

There are a multitude of different kinds of possession one can have in a property. An example of this is fee simple ownership in which the property owner holds absolute and unqualified legal title to real property, including land and buildings. This is the most common type of ownership.

What is the Home’s Proximity from Mass Transit?

With the high prices of gas today, many people find it much more cost-efficient and convenient to commute to work via mass transit. NJ real estate agents claim that being close to transportation such as train, bus or ferry will guarantee a strong resale value in the future.

Where is the Nearest Supermarket?

According to NJ real estate agents, most people do not want to live more than five or ten minutes from the closest supermarket. Any further than this could potentially impact resale appeal.

Does the Property Contain Any Easements?

There are a number of varying ways in which land can be shared. It is best to check with your local town clerk to perform a record search on the parcel to find out if any easement documents have been recorded.

 

The real estate market is changing rapidly and expanding into new avenues almost daily. Sometimes it can be very difficult to find the answers you need on a specific topic or issue. In times like these, you need a real estate professional who will provide valuable information and trustworthy advice. For more information on NJ real estate, call us today or click here to be connected with one of our top real estate specialists.