10 Underrated Factors to Consider When Buying a Home

 

When searching for a new home, focusing on characteristics like price, location, and square footage is natural. But other often overlooked factors can influence your satisfaction and financial health. 

Here are ten underrated factors to consider when buying a home.

1. Resale Value Potential

Even if you plan to stay home long-term, unexpected circumstances may arise. Properties that can be more challenging to resell, such as those near noisy areas or with unique layouts, can impact your financial flexibility. To maintain or increase the home's value over time, look for properties in neighborhoods with strong growth potential.

2. Sunlight Exposure

Natural light can enhance your mood and reduce your utility costs. When searching, consider which rooms receive the most light, particularly during the hours you'll be using them. Also, be aware that south-facing properties generally get the most sunlight throughout the day, which can be a major plus in colder climates.

3. Cellular and Internet Connectivity

It's easy to assume that every neighborhood has great cell service and high-speed internet, but that isn't the case. Spotty connectivity can be frustrating and limiting, especially for those who work from home. Check signal strength and service providers in the area to avoid any surprises.

4. Neighborhood Noise Levels

Noise is a quality-of-life factor that often needs to be considered. Being near major roads, airports, train lines, or bustling neighborhood hubs can disrupt sleep and relaxation. Spend time in the neighborhood at various times of day, including weekends, to get a true sense of noise levels before purchasing. 

5. Parking and Street Congestion

Parking might not seem concerning if the home has a garage, but additional driveway or street parking space can be crucial for guests or households with multiple vehicles. In densely populated areas, finding parking or dealing with traffic congestion can add daily frustration and even impact resale value.

6. School District Ratings

Living in a highly-rated school district can increase your property's value and resale potential, regardless of whether you have children. Homes in these school districts typically hold their value and appreciate more consistently than homes in less-regarded districts.

7. Future Development Plans

It's essential to research any planned developments in the area before making an offer. New commercial centers, road expansions, or other construction could affect property values and change the neighborhood's character. Check with local planning departments to understand what might come in the next few years.

8. Proximity to Emergency Services and Healthcare

While access to hospitals, fire departments, and police stations is often taken for granted, proximity to these services can be a significant advantage in emergencies. Living near such facilities can also positively influence insurance rates.

9. Storage and Closet Space

Ample storage space can greatly improve day-to-day living. Older homes may lack modern closet designs, and while a basement or attic may seem adequate, it's crucial to assess storage needs against available space. Don't underestimate the convenience of having organized, accessible storage.

10. Quality of Community Infrastructure 

Beyond the home itself, consider the broader infrastructure of the neighborhood. Are the roads, sidewalks, and public amenities well-maintained? Poor infrastructure can indicate an underfunded local government, which may lead to future property tax increases and service issues.

Buying a home involves many factors beyond just the property itself. By carefully considering these ten often overlooked aspects, you'll be better equipped to make a wise investment that suits your lifestyle and long-term financial goals.

Call me (Brett) 216-703-5740 Key Realty and Property Management