Turbo Takeaways
- Buying a home involves considering multiple factors, including price, location, and property condition.
- It’s important to consider your finances before entering into a mortgage.
- Mortgage debt is the largest source of consumer debt in the United States.
The Big Decision of Buying a Home
It may have taken you years of living frugally to save for a house. But when it’s time to put that hard-earned money into a home, the process can feel like a huge risk if you don’t know what to look for.
From market trends to hidden costs, many factors can impact your decision. Taking the time to understand these details can help you avoid costly mistakes and ensure your investment is the right one.
Knowing what to look for when buying a house isn’t always easy, especially for first-time homebuyers. This guide covers key considerations so you can feel confident when making the decision to purchase a home.
What To Look for When Buying a House: 8 Key Considerations
Your future plans, budget, and lifestyle play a major role in what you look for when buying a house in 2026. However, here are a few key considerations that you should pay special attention to when you’re viewing homes:
1. Price and Affordability
For most home buyers, the price range of a property is the most important factor. Consider getting a preapproval from a mortgage lender before you begin viewing potential homes. This will give you a clear idea of how much money you can borrow for a mortgage loan and how much of a down payment you’ll need.
You’ll also want to check the current mortgage rates for the loan term you're seeking (15, 20, or 30 years). Next, determine whether you need private mortgage insurance (PMI), and decide if the monthly mortgage payments are affordable for you now.
Calculate Hidden Homebuying Costs
Buying a home also includes other costs such as closing, moving, maintenance, HOA fees, and property taxes. Be sure to include these when you calculate monthly expenses to determine if you can afford a property.
2. Location
The real estate expression, “location, location, location,” is famous for a reason. Your home's location will directly impact your daily life. When house hunting, here are a few key things to consider about a property's location:
- Scope Out the Area
Learn more about the neighborhood and community, including what's located nearby. Review local crime data to ensure the area is a safe place to live. - Consider the Schools
Research the local school district, even if you don’t have children. A home in a highly rated school district will typically sell more easily in the future. - Map Out Your Commute
Ensure the location provides a realistic commute to work. Compare traffic during rush hour, check proximity to major highways, or look for train or bus stops nearby. - Research Flood Risks
Check the zone code to determine if the home is in a flood zone. If your home is at risk for flooding, you’ll need separate flood insurance to cover possible damage not payable under regular home insurance.
3. Size and Layout
Start by determining the type of house you’d like to buy. If you’re a first-time buyer, a condo or a townhouse may be a good starter home, but you’ll have less space and privacy. Single-family homes are the most desirable, but the costs can be high, especially in certain parts of the country.
Once you’ve decided on the type of home you want to purchase, you’ll also have to ensure the size and layout are right. Consider the number of bedrooms you want, closet and garage space, yard layout, and overall square footage.
Here's a checklist to help you track key home features:
| Home Feature | Considerations |
| Square Footage | Is the home spacious enough for your family now and in the future? Is there room for your family to grow? |
| Bedrooms | Does the home include enough bedrooms for your family? How will you accommodate guests? |
| Storage | Is there ample closet space in the home? Does the home include additional storage like an attic or shed? |
| Kitchen/Dining | Does the home include a separate dining space? Does the design of the kitchen fit your cooking and entertaining habits? |
| Living Space | Do you like the overall flow of the home and common areas? Where would you put a couch and television? |
| Office | Does the home include office space for remote work opportunities? If not, is there room to adapt another space in the house? |
| Bathrooms | How many bathrooms does the home include? Are there any half baths without a tub or shower? |
| Outdoor Space | What is the layout of the front and backyard? Does it include space for outdoor furniture, a future pool, or playground equipment? |
4. Condition of the Property
A property's condition is another critical factor to consider when buying a house. A few missing shingles on the roof or a small crack in the foundation can mean costly repairs in the future.
A new roof, water heater, and solid foundation are signs that the home is in good condition. Roofs can last 20 to 30 years, but replacing an old roof costs about $10,000, depending on the size and location of your home.
When checking the condition of the property, here are a few more things to look at in addition to the foundation and roof:
- HVAC System: What is its maintenance/replacement history?
- Septic and Plumbing: Are there any issues or leaks? Repair/replacement history?
- Electrical: Is it up to code, and will it be able to support your energy needs after you move in?
- Windows: Are they energy efficient or Energy Star compliant?
- Insulation: Will it keep your home cool in the summer and warm in the winter?
- Appliances: How old are they, and what are their maintenance/replacement histories?
- Foundation: Are there any visible cracks or repairs needed?
- Mold and Mildew: Does this hidden health hazard affect the home environment?
5. Homeowners Association (HOA)
Even before you start looking at homes, you’ll have to decide whether you want to have complete control over your home or live in a community run by a Homeowners Association (HOA).
The HOA is an organization that manages planned developments and residential communities. HOAs enforce the rules for communities that are governed by HOA membership covenants, conditions, and restrictions.
If you buy a home in such a community, you’ll usually pay a maintenance fee for amenities like a pool or playground along with common areas. The HOA may also limit what you can and can’t do with your home, which may not be right for everyone, especially when it comes to the exterior appearance and condition of your home.
6. Insurance History
If you’re working with a real estate agent, ask them to help you find information about any insurance claims filed on the home. You can request a Comprehensive Loss Underwriting Exchange (C.L.U.E.) report from the seller.
Knowing the insurance history of a home will give you a clear idea of any past issues, such as water, fire, or mold damage. Too many claims in the past can also impact your insurance rate.
7. Health Hazards
If you’re planning to buy an older home, pay special attention to health hazards like lead paint, asbestos, and mold. A home inspection may not always identify asbestos and mold, so you may have to get them tested professionally.
Some homes may be located in areas where radon gas is commonly present, so you may need to test the home’s radon level. Knowing about these hazards can help you negotiate the purchase price or have the seller fix these issues when you present an offer.
8. Resale Value
Various features can impact a home’s value in the future. Listed below are key factors to consider:
- Sales History
Check the home’s historical sales price through tax records and public property records to see if the value has gone up over time and by how much. - Comparable Properties
Comparing home sales or “comps” in the area is also a good indicator of whether the home will sell easily and for a good price in the future. - Official Details
Check the crime trends, zoning laws, and new infrastructure plans in the area, which can all impact the resale value. - Home Efficiency
Energy efficiency upgrades to a home can also increase the resale value, such as efficient heating and cooling systems, appliances, triple-pane windows, and solar panels. - Legal Baggage
Legal claims or liens on a house mean there’s some debt that needs to be paid. Properties with liens are harder to sell, so it’s important to get a title check before you secure a home loan and close. - Additional Challenges
Ask your seller for a complete list of disclosures so you’ll be aware of any potential problems with the property that may deter buyers when you resell it.
Red Flags To Look for When Buying a House
Other than the tips on what to look for when buying a house listed above, there are also many red flags you should be aware of.
- Cracked, bowed, or bulging foundation
- Leaks and signs of water damage
- Old or damaged roof
- Clogged sewer lines
- Poorly installed, leaky, or poorly insulated windows
- Sinks, showers, or toilets that don’t function properly
- Broken appliances
- HVAC system with coolant leaks, water damage, or parts that need replacement
- Poor flooring work
- Improper ventilation
- Signs of mold
- Nearby body of water or home in a flood zone
- Poor maintenance
Get Help Looking Into a Home for Sale
Consider working with an experienced real estate agent and a certified home inspector to guide you through the home-buying process.
A real estate agent can help you identify what to look for when buying a house, while a certified home inspector plays a different role. They can discover hidden issues, hazards, and generally poor-quality construction or repair work, which can give you leverage to negotiate the home price with the seller.
If you’re planning on buying a house, it's best to work with a professional to ensure you’re aware of any problems and are confident in your decision.
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