The housing industry is a multi-billion dollar industry that attracts investors from all across the globe. To succeed in this industry, a real estate investor should be able to critically analyze different real estate properties and make the right decision on which one to invest in. Aspiring homeowners should also possess critical skills that enable them to make the right decisions on the kind of houses they wish to buy. Finding and buying the right real estate property requires the prospector to, firstly, understand the kind of property they desire to buy as well as knowing the critical features of the houses before sealing the deal. Here are 8 important real estate details that any prospecting buyer should pay attention to.
Size and nature of the house
As a prospecting homeowner, you should be highly specific on the kind of house you intend to purchase. There are two basic types of houses that are differentiated based on their general layout. These include the mansion design which has an upper and lower floor plan and the bungalow design which has no elevation or upper floors. Other aspects of the house that you should consider in regard to its size include the number of rooms available, especially bedrooms. The bedroom size of the real estate property should be well considered since it will determine the number of persons that you can comfortably accommodate.
Location of the house
The location of the house is also an important factor to consider. A good house should be situated in an area that has sufficient necessary amenities and services such as schools, hospitals, shopping centers, and neighbors. This ensures that essential amenities and services are accessible without the need to travel long distances to access them when the need arises. The proximal location of such amenities to a given house ensures convenience not only for yourself but also for your children who may need to access services such as education and other recreational activities such as sports.
The lot size
The size of the land upon which the house sits is also an important factor to consider. Houses built on suburbs or major cities are normally situated on standardized and well-regulated lot sizes. On the other hand, houses built on upcountry and remote areas are normally built on vast expanses of lot size. The lot size matters as they can determine whether you would perform additional home activities such as rearing chicken or even planting a small garden. A small lot size may limit you significantly on the additional farming activities that you can think of. The extra free-space of compound that you have may also come in handy as it may form sufficient room for your young children to play on.
Quality of the finishing
The quality of the finishing that the contractor has invested in the house is also an important factor to consider. Elements such as the kinds of doors and windows installed in the house can encourage or discourage you from investing in the real estate property. Standard and customized well-crafted doors made of high-quality material, both metallic and wooden, often give the house an additional sense of beauty and value. The craftsmanship that goes into successfully creating such custom-built high-quality doors helps enhance the net worth of the house while giving it an aesthetic appeal. You may, therefore, want to pay attention to how fittings have been installed to ensure you go for the best that the market has to offer.
Age of the property
The property’s age is an important parameter always to confirm. Old refurbished houses are not as appealing and strong as newly constructed ones. Newly constructed buildings contain standard features that the real estate industry has to offer at a particular time. Olden houses, on the other hand, although refurbished to better pristine conditions, may still lack the exceptional structural appearance that most houses today are built with.
Availability and connectivity to utilities
Utilities such as water, electricity, and gas are highly essential to the habitability of any house. When looking for a habitable house, therefore, you should primarily check whether it is connected to these important utilities. An already utility-connected house saves you the extra effort you will need to put in order to ensure that it is connected accordingly.
Security and privacy
The security and privacy, both of the house as well as the neighborhood, is a critical factor that can determine whether a property is worth investing in or not. Properties situated in areas that are generally secure are normally easy to sell as the buyer is assured of a safe residence. Conversely, houses situated in areas where personal security is a major concern would need the buyer to put in extra measures to secure the area, such as the hiring of private guards. The security systems that are already installed within the house itself are also important. Some of the key security measures that can be installed in a prime property include security cameras, security lights, as well as the presence of a strong fence around the house.
Price of the property
The selling price of the property is also an important parameter that can determine whether an investor or prospecting home-owner would invest their money. Properties that are overpriced and unworthy of their market price are generally hard to sell in the market. The aspiring homeowner should, therefore, exercise due diligence to ensure that he or she is not fleeced by buying an overpriced house.