One tip is to visit the house you’d like to buy at different days and times of day. This way, says Harris, “you’ll know if you’ll need earplugs to deal with a next-door band practice on Tuesday nights.” Now, moving on to the neighborhood itself. “Location, location, location” is a real estate saying that everyone seems to know, but it really does apply here. It’s very easy to fall in love with a home, but then ignore the surrounding area, and dismiss any concerns you might have with the location. “Maybe the house is near a sewage plant or waste dump. Maybe it’s too close to a freeway or airport. Or maybe the neighborhood feels just a little too gritty,” says Ericson (Realtor.com). “Or maybe the location is great now, but is in the path of future freeways, neighborhood expansions, or a new shopping mall.” Do some research about the future zoning plans for your neighborhood. And take a cold, hard, critical look at the neighborhood, without factoring in your emotions about the home itself. Remember, you can often fix up a home, but you generally can’t fix a neighborhood.
10. You Just Can’t Afford It
Now here is a make-it-or-break-it type of deal: affordability. When push comes to shove, you need to be able to afford the house you want to buy. If you know in your gut that in the long run, it won’t be affordable, then please save yourself the trouble and say “no” — walk away, don’t look back, and find a home that you can afford. “There’s been that nagging thought that the house feels like a financial stretch, but you’ve convinced yourself you can make the mortgage payments. Even if it means skipping Tuesday night takeout or that weekend getaway in Vegas,” writes Ericson. “But then you realize that you’re one transmission issue or dishwasher
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