Arizona real estate

Even though you think you have found the home of your dreams, it’s important to look at the overall picture and affirm you haven’t overlooked something that could be a costly pitfall. When buying Arizona real estate, here are 5 questions you should evaluate when shopping for a new home:

1. Do I qualify?
Many new homeowners will fall head over heels for a home, and then discover they don’t qualify for the loan to buy. Before looking at Arizona real estate, talk with a loan officer FIRST and find out how much you are expected to bring as the down payment, the amount needed for closing costs and what type of home you are qualified to buy. (for example, certain manufactured homes won’t qualify for a particular loan) Knowing how much you quaify at the beginning allows you to narrow your focus, saves time and makes you a more appealing buyer.

2. Is this the right community for me?
Evaluating certain neighborhoods before looking at Arizona real estate is essential in the home buying process. Looking at neighborhood profiles can be done by the homeowner online or by a trusted Arizona realtor. Factors to consider are property taxes, commute time for work and school, culture, crime rates and the amount of foreclosures in the community. It won’t matter how much you love a home, if the neighborhood doesn’t meet your quality of life expectations.

3. Can I afford it?
You may be qualified for the loan and can pay the mortgage, but there are other expenses that sometimes first-time homeowners fail to consider. Details you should analyze include: price fluctuations with property taxes, monthly utility costs, and condo or homeowners association dues. Failure to account for additional expenses can break the bank if you don’t plan for them.

4. Will my furniture fit?
There is nothing worse than moving into your “dream home” and then discovering that your bed won’t fit in the bedroom, or your living room will now be overcrowded with furniture. When looking at Arizona real estate, always bring a tape measure and get the dimensions for each room. Comparing total square footage and visualizing how your furnishings will look in each room can keep you from spending money on new furniture that wasn’t planned for in your original budget.

5. Are there any costly problems with the home?
It’s necessary (and usually required) for homeowners to have a home inspection before the close of a sale. Many homeowners let emotions take control and miss huge problems that will be expensive to fix in the future. If the inspector discovers issues such as mold, water damage, poor wiring or a weak foundation, talk to the seller to see if they will fix the problem. If not, it’s probably best just to walk away.