House FactorsLooking or a house is not only a great investment in pride and ownership, it can also cause you a great deal of pain and grief if you've not taken the time to research the exterior aspects of the house, such as the neighbourhood, which is the best type of house to invest in: leasehold or freehold.
By looking at the house itself as whether or not you can picture yourself in it is important as you can't simply turn around and say that you don't like it and return it ... well, that is impossible. When you have decided that you want to move ahead and purchase a home, you need to look at a few factors that will ensure you get the house that you really want.
There is the house itself such as how much square footage it has, its location to many community services. Each of these things are called the house value. When you look at any house, the factors that you need to define is in what your needs and wants are and just how important past experiences play into the new house itself.
Other things you need to consider in the equation are in the time that will be spent on the house itself, as if you buy a pre-owned house there may be more work involved, depending on its age and state of disrepair. If you are handy with repairs, this may not be a large factor in buying your house.
When looking at buying a house, another factor is timing. In itself the question is hard to pinpoint down when the exact best time to buy is as you continually hear about a buyer's market, a seller's market. Are the houses in the neighbourhood itself increasing in value or decreasing and would you lose money on the purchase but make money on it if you are looking to "flip" the house for a profit in a short period of time.
Another factor is whether to buy or build a house. The amount of time that you need to put into a house to remodel it can be a mitigating factor in whether buying or building is the best move to make. Many people weigh the cost between buying and building and this is their deciding factor. A pre-owned house can also be a deciding factor if there are many items in disrepair or there are potentially hidden costs that need to be examined prior to even signing on the dotted line such as: structural defects, signs of water damage, water pressure problems, plumbing, wiring deficiencies, energy efficiencies, termite problems and the air quality inside the house.
Above all, the three most important factors in any decision to go ahead with any financial decision in investing in a house are: location, location and location. This is the most important decision that many families face when looking at schools, work location, shopping location and worship location.