Choosing a House

Posted by  on Apr 16, 2009
Before you choose a house, you should choose what cities or communities you would like to live in. Carefully choosing your community is the first step in finding a good location, which can help maximize your future potential resale value. If you are considering Rochester, Minnesota for a home, you will want to look at property in relation to important landmarks such as the Mayo Clinic and the University of Rochester. Your property’s location in relation to these two landmarks will affect the property’s value. If you are considering buying a home, with the intent to resale quickly, the most important consideration you have is location.

When choosing a community for your purchase, it makes the most sense to buy in a city with a viable and stable economy. Five, ten, or even fifteen years from now, when you want to sell your home, you can have a reasonable expectation that your community will still be a desirable place to live. Rochester’s sale price has been relatively stable.

In addition to residential neighborhoods, there should be a healthy mixture of commercial and business districts. These not only provide jobs to the local residents, but also add an income source that the city can use to upgrade and maintain roads and city services. In fact, you should take a drive and see how well the community is maintained. You have probably heard of pride of ownership when referring to an individual home or an automobile.

Another area of inquiry is community services. Does the city sponsor youth sports and have well maintained athletic facilities and parks? Do they sponsor community events, such as an annual parade? Are there activities available for children, teenagers and senior citizens? Your local agent, if they are a good one, will have amassed a wealth of information on these subjects of inquiry. It is also another reason to use a local agent.

Even if you do not have school-age children and do not intend to have children, you must pay attention to the local school system. That is because when you sell the property, many of your potential buyers will have concerns of this nature. You will want to know if the local schools are overcrowded. School areas also have special requirements regarding safety; this is a plus for everyone nearby.

In addition to community pride, check on the services provided by local government. One example would be the local library system. Are there several library branches? You should also look into local crime statistics and see how the city compares to the national average and other local communities. Is the police force effective and responsive to community needs? Are fire stations located strategically around the community so that they also can respond quickly in an emergency?

In addition to single family homes (one home per lot), there are other forms of home ownership. Some buyers, particularly first-timers, start with multiple family dwellings, so they'll have rental income to help with their costs. Many mortgage plans, including VA and FHA loans, can be used for buildings with up to four units, if the buyer intends to occupy one of them. With a condo, you own from the plaster in just as you would a single house. You also own a certain percentage of the common elements like staircases, sidewalks, roofs and the like. Monthly charges pay your share of taxes and insurance on those elements, as well as repairs and maintenance. A homeowners association administers the development.


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