Whether you're about to purchase your first home or are a seasoned home buyer, it is sometimes difficult to know what to look for in a real estate buy. Certainly you want to make a sound investment, but you also need a house that's going to be a home to you and your family.

For a brief checklist of what to look for when buying a house, keep reading.

1. School Districts

Whether or not you have a family with young children, school districts are going to affect the value of your home, both now and well into the future. A quality school district with a low student to teacher ratio and solid national standards is not only good for your family, but it'll also be attractive to potential buyers when you go to sell.

Even if you have no children of your own (or any intention of eventually raising them), a high quality school zone can be a significant boon to the value of the property.

2. Zoning and Building Laws

Before you buy a plot or a fixer upper in that great neighborhood of a town, make sure you have a clear understanding of the zoning and building laws in that area.

Hiring a planner to look at the property may be a wise investment if you're considering the purchase of a home with the intent to renovate. Many homeowners with big dreams have had them shattered simply because they did not investigate the planning requirements before they purchased and learned after the fact that the zoning constraints or additional expenditures required for the work were too exorbitant.

3. Crime Rates

A good deal may not be so great if you discover that crime rates are rising in a particular area. Protect yourself by checking a potential neighborhood's crime statistics and compare them to the national average. If the rate is high or the area shows significant signs of vandalism, you would do well to move on.

4. Insurance and Liabilities

Of course homeowners insurance increases along with the value of the home, but are you also aware it can go up if the property comes with a pool (either in ground or above ground), waterfront, river, or other dangerous liability? Even though buying a log cabin heated by a wood stove may seem like a great getaway, however insurance rates will also be higher there too.

Before you purchase a property, coordinate a discussion with your home insurance agent about an annual liability insurance estimate for your potential new home.

5. Maintenance Fees

That low-cost condo right in the heart of the city looks great, but have you factored in the high monthly maintenance costs? Often, if a condo property is going for a low price, you can be fairly certain that the monthly maintenance fees are higher than normal.

Before you buy a home with additional monthly costs attached to it, make sure you've budgeted accordingly.

6. Space

When purchasing a home for you and your family, ensure you have not only the space and amenities that you need now, but will also have a sufficient amount for a few years from now. Preparing and paying for needs that extend well beyond today is the key to securing the right house that keeps you happy for many years to come.


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