Important Things to Check When Viewing New Properties

new properties available from Palo Verde HomrdWhether you are a first-time buyer or an experienced buyer, looking at new properties is a big deal. Excitement levels and emotions run high and often cause important things to be overlooked when walking through a home. This is especially true if it is a brand new, never-before-lived-in a home. Before you hand over the down payment, take some time to make sure you are truly getting your dream home.

Check the Location of New Properties

The most important factor when looking at new properties on which to build a home is its location. This includes the distance between it and the neighboring homes and the nearest main road, as well as the distance from the property to the town’s amenities like shopping, dining, markets, warehouses, transport hubs, and freeways. 

You need to find out about the ownership, type and intended usage of neighboring areas, as well as the free land in the locality. Additionally, you should also inquire about the school district, even if you do not have or plan on having children as this will affect whether or not the home will hold its value. Finally, you should also ask where the home will be located on the new property and which way it will face. This will help with energy efficiency.

Costs of New Properties

You need to go beyond the cost of the home itself and find out about the additional fees that you will need to pay. This includes taxes, homeowner’s association fees, and estimated utility costs. This will help you determine exactly how much you can afford as a mortgage payment each month. Keep in mind that these things fluctuate so you may want to look at a two-year cash flow estimate before coming to a conclusion. You should also look into recent comparable sales of properties with similar characteristics in the area including the most common and suitable for both old and new properties and the expected depreciation on the new home.

If you are looking at new properties in El Paso, be sure to include Palo Verde Homes in your search. Contact us today to learn more about what we have to offer!

 

Comments are closed.