Tips for Buying Your First House. Purchasing a house is one of the most important financial decisions that people make. For many individuals, the house will provide living space for the rest of their lives. That is why it is so important to choose the right property. While there are many factors to consider, two of the most important have to do with location and square footage.
When your goal is to purchase a house that will be home for several decades, it helps to make sure the property is located in a section of town that is anticipated to remain viable over time. For this reason, look into the history of the area before you buy. Has the neighborhood been relatively stable for the last couple of decades? Are there any signs that it will become less desirable in the next decade or so? If the area is on the outskirts of the city, what are the chances of expansion in your direction, and how would that expansion affect the neighborhood?
Along with location, the square footage of the house and the grounds is something to consider. Right now, it may be just you and your spouse. A few years down the road, children may be in the picture. Over time, there may be the need to take in an elderly relative and provide care. Take a look at the existing structure and determine how well it would do in terms of allowing you to expand the family over time. As long as the house is large enough to take care of you, a spouse, and a child or two, chances are it will be fine. On the off chance that you do need to add a room or two in the future, make sure the house is far away enough from the property lines so that the additions can be done without running into difficulties with the neighbors or the local zoning board.
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