2torial #0935:
Learn2 Buy a Home (continued)

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Before you visit a single home, you should have a very clear idea of what you want and, even more important, what you need. Make a list of all the elements you'd like--high ceilings, a certain number of bedrooms and baths, a garage or parking, proximity to your work or public transportation, specific school districts, and so forth--and prioritize it.

Your eventual home isn't likely to fulfill all your desires, though, so consider what trade-offs you'd be willing to make: a big yard for a garage? An extra bathroom for a formal dining room? Then there are the extras: old-world charm or all the modern conveniences, peace and quiet or access to a lively street scene. Actually, so-called extras may be requirements as far as you're concerned. Don't compromise on these points without careful consideration.

Give a copy of your list to your realtor, and carry one with you when you visit potential homes. Compare what you see to what you want, and be sure to take notes--especially on places you like. Don't forget to consider the neighborhood as well as the home itself. Here's what to look for:

Neighborhood:

• Find out from municipal authorities about any upcoming projects that could affect the neighborhood, for example new roads, homes, or shopping districts. Remember, you're going to be there for a while, so you want to know how things are going to look in the future.

• If you have kids, ask your realtor where you can get a report on local schools.

• Once you get serious about a home, visit it at various times of the day. Does it seem safe at night? Is traffic heavy at rush hour?

• Find out exactly how long it takes to get to your job, especially during the heaviest commuting times.

Note: In some areas, sellers are required to hire an independent survey agency to determine if there are more serious problems with the home's location (is it in a flood zone or on a fault line, for example). Inspection results must be disclosed to buyers. Insurance companies also make similar inspections before writing a home owner's policy.

Home:

• Don't get stuck on superficial details. A relatively inexpensive paint job could make a dark, dingy house seem like a sunny marvel.

• Will your furniture look good in the house, or will you have to do some redecorating? Will there be extra rooms to furnish?

• Will it be comfortable? Too hot in the summer or too cold in the winter? Consider living there in all four seasons.

• What are the realistic upkeep costs, especially if it's an older or larger house?

• Is it a fixer-upper? If so, is the lower buying price really worth the time, money, and effort it would take to make it the home you want? If you're considering a fixer-upper, be sure to get a thorough, independent estimate from a contractor for the cost of all necessary improvements. Refer to 2torial #0506: Hire a Contractor for advice on how to find and hire one.