If you are interested in buying a home. For many people, this is a process that can take several months when they begin their search for their dream home. That’s to be expected because buying a home is, for many people, their biggest investment. Below I will identify some of the factors and considerations that need to be made.

Buy or rent?

Before beginning the process of finding a home, it is important for the potential buyer to decide if it is a good financial decision for him or her. For many, buying a home makes good economic sense because it provides a tax haven and built-in savings plan. Mortgage interest and property taxes are tax deductible, and equity accumulates if the property appreciates.

What to look for in a house

I recommend that you look at a property and imagine yourself as an appraiser. The most important criteria for buying a home is, and always will be, location, location, location. With that in mind, keep these factors in mind when evaluating a home:

• A home in a good neighborhood has strong appreciation potential.
• Take different routes to the property to make sure there are no unsightly things like landfills, scrap yards, or vacant lots.
• Make sure there is good accessibility to the property by traveling to the house on different days of the week at different times during the day.
• Check noise pollution. Is the property near an airport or train tracks? Other noisy businesses include auto repair shops, day care centers, and kennels.
• Check the crime level in the area. Generally, neighborhoods with poor street lighting experience higher levels of crime and traffic accidents. Also visit city police department records for crime statistics and volume reports.
• Factors that influence homeowners insurance include: proximity to the local fire station, number of street fire hydrants, and whether there is adequate street and sidewalk drainage.

In the next section of this article, I’ll discuss the factors to consider when financing your new home purchase.

Kevin Fenderson works as a real estate agent for Hilltop Realty in Santa Ana, CA. For more tips and information, check out his blog at newschoolrealestatemarketing.com [http://www.newschoolrealestatemarketing.com]