9/9/2011 - What buyers should look for in a first home
First time homebuyers often wonder what makes a home a good investment. Bankrate.com interviewed some housing experts to discover the answer.
Paul Bishop, vice president of research for the National Association of Realtors, says the first concern is to be sure the homeowner can afford to live on the property and it falls within a pre-planned budget.
Another consideration Bishop suggests is to buy a house that can accommodate a growing family for at least 10 years, as first-time homeowners typically stay in their home for an extended period of time.
Scott MacDonald, president of a Virginia real estate firm, said homebuyers should also make sure the house has a history of proper maintenance. Specifically, house hunters should look for signs of disrepair, such as a crumbling roof or rotting trim on the exterior of the home.
A house inspection is something a homeowners insurance provider may require to make sure it's not vulnerable to serious damage should there be a severe weather event. Talk to your Selective agent today to find out more tips on what to look for when purchasing a new home.