What to Look for When Buying Your First Home

By Maria Belgado
Special to Relocation.com

Buying a home for the first time doesn’t have to be a daunting task. Several sellers stage their houses to make their homes look attractive, but keep in mind that after their personal belongings are taken away, the house may seem bare. Here are some amenities that you should look for when buying your first home.

1. Kitchen appliances: Appliances are the most costly and important aspect of your kitchen. Some homes have them already built it. When looking at home ask about the age and condition of all appliances – especially the refrigerator and the oven.

2. Materials: After you learn the cost of the house, you should also know what materials were used in the construction. If you are buying less costly homes, be sure that you will receive materials, which are not really top class. Cheaper homes come with cheaper amenities.

3. Look at the ceiling: Check the ceiling for water marks, cracks and leaks. These are indicators of structural damage.

4. Outdoor areas: Look at the gutters, patio, downspouts, and examine the exterior conditions closely. If you are buying older homes, you must have a record of the past major repairs that have been carried out.

5. Research the neighborhood: Before you buy, research the crime rates and accessibility of the neighborhood. You don’t want to live in a neighborhood that is dangerous or has a bad history.

6. Bathroom amenities: Bathroom and plumbing fixtures are one of the most important amenities. If you are going for older homes, you must find out what renovations will be needed for the plumbing, as these can get very costly.

7. Important systems: Closely look at the heating and cooling systems. These systems are costly and repairing them will also take a lot out of your pockets.

8. Upgraded amenities: Several homeowners upgrade their homes. Find out the approximate cost of the upgrades and if there is any difference in the rates that the seller is offering. Do not pay for unnecessary upgrades that may seem attractive but are not useless.

9. The paperwork: If you are buying a house, be it your first or your last, you must take a look the paperwork closely. Do not go for houses that talk about ‘settling the paperwork later’ or ‘the paperwork will be done in a while.’ Always go for houses that have ready papers with a legal stamp on them. You may also do research about the house in local government bodies.

Looking for your first home seems to be exciting, but you must know all that you need to look for. House hunting requires you to have really strong nerves and analytical skills. Before you start looking at houses, you must have a rough idea of the amenities you are looking in your house. Make sure you make detailed lists and stick to lists. However, some flexibility may be required while you are short listing and selecting your home.

Buy or Rent? The 10 Best Cities in the U.S for Both Markets

Buy or Rent? The 10 Best Cities in the U.S for Both Markets

By Serena Norr

The great debate lives on: Should you buy or rent? Both sides of the discussion are very passionate about their stance. Renters scuff at the idea of buying due to an inability to put down a sizeable down payment or perhaps they live in an area where renting is favorable to buying a home. Buyers, on the other hand don’t understand why anyone wouldn’t want to own their own property in order to build a home for themselves or their families, as well as own a piece of real estate that may increase in value over time. This friendly debate has seen a bit of a shift with the upturn of the economy where some renters can now afford to buy due to foreclosures and financial assistance from the $8,000 tax credit for new homebuyers. Whereas, some homeowners have been forced out of their homes and can now only afford rent.

Of course, the complexity of the housing bubble isn’t so black and white. Location also plays a huge factor in an individual’s decision and ability to buy or rent. For example: in New York it is cheaper to rent than to own; whereas in Boston the market is stronger for buyers. As this paradigm continues to flip, we at relocation.com won’t be taking any sides; but we can offer a list of the best cities (area amenities, price, thriving job markets and real estate growth) for both markets. Now if we could just solve the mortgage crisis, we would all be one big happy family.

10 Best Cities for Renters

1. Columbus, Ohio: According to apartments.com, the average rental in Columbus, Ohio is $837 for a two-bedroom apartment—pretty amazing deal for the largest city in Ohio and home of Ohio State University. Real estate is also expected to pick up, but for now it is certainly a renters market.

2. Indianapolis, Indiana: As the largest city in Indiana, Indianapolis is experiencing a steady job market that is also renowned for its job market within the manufacturing industries and home of the Indianapolis 500. Residents of this Midwestern area also have access to numerous cultural attractions such as the Indiana State Museum, the NCAA Hall of Champions and the White River State Park. Renters can also look forward to affordable apartment prices with an average monthly rent of $751 for a two-bedroom apartment, according to mynewplace.com.

3. San Antonio, Texas: As the second largest city in Texas, San Antonio has cultural ties to Mexico and the U.S. where residents can see a rodeo or check out exciting cultural attractions such as the Alamo and the River Walk. The area is also home to major universities and research centers such as South Texas Medical Center. The area is also ideal for renters where months rents average $850 for a two-bedroom apartment, according to apartments.com.

4. Salt Lake City, Utah: The average two-bedroom rental in Salt Lake City, Utah is $804, according to mynewplace.com. This outdoor lover’s paradise is home to numerous ski resorts, golf courts and national parks and attractions such as The Utah Museum, the Historic Temple Square of Natural History and Great Salt Lake.

5. Austin, Texas: Dubbed the “live music capitol of the world,” music and Austin, Texas are often mentioned in the same sentence, which is evident by the numerous musical festivals (South by Southwest and Austin City Limits Music Festival) that are held here. Austin is also the corporate headquarters of Whole Food Market, Dell and recently a new office for Facebook. The city is also a biker friendly area and one that is very eco-conscious and not to mention affordable with the average two-bedroom rental at $1065, according to apartments.com.

6. Charleston, South Carolina: An exciting southern city, Charleston, South Carolina features numerous recreational amenities such as beaches, campgrounds, museums (Gibbes Museum of Art and the Charleston Museum) and an historical downtown area. The area also boosts a mild climate throughout the year to enjoy an outdoor lifestyle. What’s even better is that you get all of this for a monthly rate of $ 825 as stated by mynewplace.com.

7. Oklahoma City, Oklahoma: As the largest city in Oklahoma, Oklahoma City is renowned for its livestock industries and oil production. This western city is also home to the Ford Center to check out a basketball game or a concert, the American Banjo Museum and Oklahoma City Museum of Art. Renters will also love the price of $665 for a two-bedroom apartment, according to apartments.com.

8. Sacramento, California: Sacramento, California is known as a lively area for its recreational amenities (Sacramento Zoo, national parks, museums and marina). There is also favorable rent in this area of $934 for a two-bedroom apartment, according to mynewplace.com.

9. Tucson, Arizona: Dry, arid climates are in the norm in Tucson, Arizona where residents can enjoy outdoor adventures such as rock climbing, hiking at one of the areas numerous parks and nature reserves. New construction is also promising for renters with an average two-bedroom apartment at $723 a month, according to apartments.com.

10. Denver, Colorado: If surrounded amongst natural beauty and access to historic western attractions aren’t enough, cheap rents are sure to entice you to move to Denver, Colorado. According to mynewplace.com the average rent in the Mile High City is $978 for a two-bedroom apartment.

10 Best Cities for Homebuyers

1. Boston, Massachusetts: A vibrant college town, Boston, Massachusetts is the home of Harvard, Boston University and the Boston Conservatory of Music. The area is also experiencing a strong housing market with a 2.17 percent increase in home sales and an average single family home priced at $359,900, according to ziprealty.com.

2. Atlanta Georgia: Dubbed the Sun Belt for its hot temperatures, Atlanta, Georgia is the headquarters of CNN, the Coca-Cola Company and Delta. Not just a mecca for big business, this area is a hot market for homebuyers with the average single family home costing $146,500, according to zillow.com.

3. Baltimore, Maryland: Centrally located in Maryland, Baltimore is a vibrant seaport city situated along the Patapsco River. The area also has a downtown commercial district and nine surrounding neighborhoods for your pick of a suburban or city environment. According to ziprealty.com, the average home is $194,000 whose area is experiencing a steady increase since January 2010.

4. Minneapolis, Minnesota: The average single-family home in Minneapolis, Minnesota aka the Twin Cities is $184,000 , according to zillow.com along with a 2.33 percent sales increase in March, 2010 that makes this area favorable for buyers. In addition to affordable homes, the job market is seeing a slight increase, along with area amenities such as the Minneapolis Sculpture Garden at the Walker Art Center, recreational parks and parks and historical tours that makes for an ideal (and affordable) location.

5. Washington, D.C.: As the nation’s capitol there is never short of something to do in while living in Washington, D.C. Exploring the White House, Arlington National Cemetery and the Smithsonian Museum are just some of the many area attractions residents can take advantage of. This area also has a combination of modern and historic neighborhoods that is favorable for buyers with homes averaging $330,000 and increasing in sales of 2.36 percent in March, 2010, according to ziprealty.com.

6. Sacramento, California: Famous for the home of the gold rush in the 18th century, Sacramento is now a thriving city situated along the Sacramento River. The area is also the state capitol of California that is a hub for parks, modern museums and music (Crocker Art Museum and the Sacramento Philharmonic Orchestra), theatre (Sacramento Theatre Company) and colleges (Sacramento State). Buyers can also look forward to affordable housing prices with homes averaging $239,900, according to ziprealty.com.

7. Charlotte, North Carolina: Known as the “Queen City,” residents of Charlotte, North Carolina have access to numerous artistic and cultural attractions such as the NC Blumenthal Performing Arts Center, the Discovery Place: a hands-on science museum, a vibrant financial center located in downtown Charlotte and historic neighborhoods. On top of all that buyers can score a major deal with the average price of home at $148,900, according to zillow.com.

8. Dallas, Texas: With a motto like: “Live Large, Think Big,” Dallas surely lives up its credo with its diverse culture, modern restaurants and access to one of the largest arts districts in the U.S (the Dallas Symphony Orchestra, Dallas City Arts Festival, and Shakespeare Festival of Dallas are just a few of the many cultural offerings.). This vibrant city is also very affordable with the average home at $189,750 and a steady increase in sales at 2.57 percent, according to ziprealty.com.

9. Jacksonville, Florida: The largest city in Florida, Jacksonville is sure to please sun worshippers but will also be favorable to individuals who seek a diverse area whose job market is steadily rising. Jacksonville is also home to the largest park system in the country, according to coj.net, along with beaches and a vibrant downtown area. Home buyers will also love this area for its affordable home prices. In March, 2010, the average home in Jacksonville was $165,000, according to ziprealty.com.

10. Las Vegas, Nevada: Hit pretty hard by the housing market, real estate in Las Vegas is starting to see signs of growth with a 1.19 percent increase in home sales in March 2010, as opposed to the -4.95 percent loss in December 2008. This dessert city is sure to be exciting for residents (and not just cause of the Vegas Strip), but an area that features natural beauty, an arid climate and established neighborhoods whose homes feature modern amenities and access to great schools. Houses typically range from $169,900 and new construction is promising for this dessert city.

Resources:

•    MyNewPlace.com
•    Apartments.com
•    Ziprealty.com
•    Zillow.com
•    AOL’s Best Cities for Renting
•    Ten Cities for Real Estate Steals

City Pages:
•    Columbus, Ohio
•    Indianapolis, Indiana
•    San Antonio, Texas
•    Salt Lake City, Utah
•    Austin, Texas
•    Charleston, South Carolina
•    Oklahoma City, Oklahoma
•    Sacramento, California
•    Tucson, Arizona
•    Denver, Colorado
•    Boston, Massachusetts
•    Charlotte, North Carolina
•    Dallas, Texas
•    Jacksonville, Florida
•    Las Vegas, Nevada

The Final Walkthrough: A Checklist

Yay! You’ve finally bought your own property, well almost. After all the looking and haggling and signing and worrying, you’re more than ready to get it done already.
 
It’s an easy thing to rush the final walkthough of a house or apartment, but don’t. The final walkthrough is the last time you will be able to make a home inspection of the dwelling and have the owner take responsibility for any issues. Once you sign the final papers, you are the owner, and therefore responsible for anything wrong with the home.
 
Don’t wait until the house is yours before you discover the bathroom’s sink faucets actually flush the toilet.

Outside:
Landscaping issues
Mortar if a brick house
Porch (peeling paint, rotten wood)
Check the gutters

Inside:
Turn on and off every light fixture
Run water and look under sinks for leaks
Test all appliances
Check garage door openers
Open and close all doors
Flush toilets
Inspect ceilings, wall and floors
Run garbage disposal and exhaust fans
Test heating and air conditioning
Open and close windows
Make sure all debris is removed from the home
Confirm components are in good working order for all major systems and appliances

Attic and basements/crawl spaces:
Look for discarded items and potential problem areas
Walls and floors

Check for any damage that may have occurred when the sellers moved or that may not have been obvious when you originally looked at the home.

As you inspect, make a checklist of any issues that still need to be resolved in order to meet the conditions in your contract. Bring this list to the seller’s attention and work out home improvement contractor schedules that are acceptable to you. Preferably, you should get everything squared away before you close. If this doesn’t work out for your timing or circumstances, don’t worry. It is not uncommon for home buyers and home sellers to agree on an amount of money to be held in escrow for repairs/remedies to be completed following property closing.
 
You can see that a final walkthrough is a very important step that you should not skip or take lightly. Make sure you include a clause in your purchase contract that ensures you have the right to complete this step. Then take the time to exercise that right.
 
Related Articles:
Do These Things Before Starting Your Home Search
First-Time Homebuyer: What You Need To Know
Home Inspections