In part one of this two-part blog series, we went over some of the top areas to be keeping an eye on when touring homes you’re considering for purchase, including mortgage and budget-related themes. There are several important variables to consider while seeing homes you might think about making an offer on, from standard market factors to several personal areas that speak to your individual needs and desires.
At Altius Mortgage and our partners at Mortgage Ogden, we’re here to help. We offer numerous mortgage loan products, including several mortgage programs ideal for first-time homebuyers, but also a whole host of areas of expertise for our buyers, who we strive to assist in every way possible. While home tours are generally carried out either on your own or in the company of your realtor, there are a few areas where you may have questions or require tips from your loan officer. Here are some of the other important themes to be considering while touring a home or group of homes.
We went over some basics on appliances and fixtures in the home in part one here, but the HVAC unit and system deserves its own section. As one of the highest-value components in any home, the comprehensive HVAC system often has a major impact on your budget required, whether for the mortgage itself or for future repair needs.
For instance, if the furnace or AC condenser in a home you’re looking at are over 10 years old, you should be planning to replace these in the next few years. These are not cheap jobs, so if you plan to move forward with such a home, you need to budget properly – both for the mortgage and closing costs themselves and for this significant future expense.
While there are several location-related elements you can check on without actually visiting a home, such as proximity to various areas you visit often, there are also those you should get an idea of in-person. For instance, walking around the neighborhood itself and getting a feel for it is often an important task, as is inquiring with neighbors about the quality of the neighborhood.
Both in terms of location and other factors, whether you have children is a major variable here. If you do, a big chunk of your location search will often revolve around the school district you’ll live in and the schools your children will attend. In addition, you’ll want to consider child-friendly elements of the home and whether the space is properly outfitted for your needs.
For more on areas to look into when touring homes, or to learn about any of our mortgage rates or related home loan services, speak to the staff at Altius Mortgage today.