3 tips for choosing a home or condo

There are a lot of things to consider when buying a home, especially for first time home buyers.  Most importantly is resale value.  I’m looking at townhome condominiums right now, which historically don’t appreciate as a house does.  Resale is important to me because although I’ll probably use it as a rental at some point, I want to be able to sell it when I’m ready – and the condo market here in the Seattle area is pretty saturated.

My agent told me to keep these 3 things in mind (among others) when looking at properties:

1. Choose the best positions on the street. Usually the best placement for a house is on a cul-de-sac. This reduces traffic and increases safety. The next best placement, for safety’s sake, is in the middle of a block. Less beneficial is placement on a corner or on a busy street, which means increased traffic. Avoid a home that backs to an apartment building, a large business or a school.

2. Always be thinking resale value. Things that could affect price include a nice view, a large or level lot, nice landscaping, and a square-shaped yard, which is better than an odd-shaped yard. Try to avoid spending a great deal more for these items, but be aware that they could mean more dollars for you later on. Ask about recent improvements or add-ons. The most popular homes are three or four bedrooms, with at least two baths, a large kitchen with modern appliances, and easy access to the back yard. One fireplace, preferably in the family room, is beneficial. The back yard doesn’t have to be huge, but it should have enough room so a pool or patio doesn’t completely absorb it.

3. Do your own informal inspection. Although an inspector will be going through any home you decide to buy, you can save yourself a little grief by looking at structural conditions. Look for cracks in the walls, floors and ceilings. Do the doors close properly? If not, it could indicate uneven settling in the home. Look for plumbing leaks under the bathroom and kitchen sinks. Turn on the faucets, and make sure they all work and have good water pressure. Watch for electrical problems, and make sure the furnace and A/C seem to work well. Once you find a home you wish to buy, try asking to see it right after a heavy rain. (In the Pacific Northwest that’s HUGE – not so much for other areas of the country.) Then look for water in the basement or elsewhere.