6 Things to Consider When Buying a New Home in the Coastal Region - Other Than the Home Itself
If you're searching for a new home in the coastal region, then you likely know what it is you're looking for. Maybe you want three bedrooms? Or a certain amount of square feet? Or a huge backyard for the kids and pets to play in?
Whatever it is you seek, there's definitely a home and a property that's right for you. But while the home is certainly an important part of the equation, there are several other things you'll want to consider before signing on the dotted line.
You've undoubtedly heard that the most important thing about a home is its "location, location, location." And honestly, this is as true today as it was when those words were first uttered many years ago.
But we're going to review a few other factors to consider when buying a home in today's Oldfather Group blog, things that don't have anything to do with the home itself but should definitely be considered before making your final choice on where you want to live.
This is certainly not a comprehensive list, but is merely a few factors we feel are worth considering when buying a new home.
Let's take a look...
How's the Neighborhood?
Without a doubt, choosing a nice neighborhood is extremely important when deciding where you want to live at the Delaware and Maryland beaches. Fortunately for buyers, there's no shortage of fantastic planned communities in the coastal region.
This is where the importance of location really comes into play. Just as you wouldn't want a nice house in a bad neighborhood, so too would you not want a bad house in a nice neighborhood.
Your chosen Realtor can certainly guide you in the right direction in this area. But you can also save time by driving through some of the region's residential communities on your own, in order to have a better idea of where it is you'd like to look.
Choosing a nice neighborhood is the first item on our list, and there's a reason for that. Other than the home itself, it's probably the most important aspect of buying a new home.
What are the Taxes/HOA Fees?
As most of you probably already know, Delaware is one of the more tax friendly states in the country. With no sales tax, incredibly low property taxes and other favorable tax laws, it's one of the least expensive areas of the United States to call home.
But when choosing a home, you'll also want to consider additional financial considerations. And if you're buying a home in a planned community, this usually means Homeowners Association (HOA) fees.
These really run the gamut in the coastal region, with some HOA fees being relatively inexpensive and some coming in more on the higher side. Once you've found the home of your dreams, we recommend at least getting a solid estimate of what these fees are going to run you annually.
Again, lean on your Realtor to help in this area.
How are the Schools?
With magnet, charter, technical, religious and public options all available in the coastal region, availability and quality of schools should definitely come into play when deciding on your future home.
School choice programs have made this decision much more complex than in recent years, so it's good to ask around and decide which school is the best fit for your child or children.
What's the Cost of Living?
We touched on this briefly in the taxes section, but there are other things to consider when contemplating the cost of living in your chosen town or municipality.
How much do utilities run? What about groceries? In addition to state taxes, what about school and local taxes? What about insurance rates and the cost of available healthcare options?
These are all questions you want to ask your Realtor, your friends and anyone else who can guide you in the right direction.
Is the Area Pet Friendly?
If you have pets, you likely think of them as a vital part of your family. As such, their needs should also be considered before purchasing your next home.
Questions to consider include the available of quality veterinarian care, the location of any pet parks or nature trails, which beaches allow pets and at what times of the year and several others.
How Close are You to the Beach?
We've thrown this one in especially for our purposes, since the area includes so many incredible beach communities. It's also a question all new homeowners in the coastal region seem to ask - how long will it take me to get to the beach?
This answer is obviously different depending on the time of the year and what major roads you're near, but your Realtor can certainly give you some great advice in this area.
Obviously, the closer you are to the beach the more you can expect to pay for a new home. But you need to weigh all of the options and decide what factors are most important to you and your family.
No matter where you are in the region, you're not going to be too far away from Delaware and Maryland's award winning beach resorts.
There are so many things to consider when making what is likely one of the biggest financial decisions of your life, so it's always a good idea to talk things over with your Realtor before making a final decision on a property.
The list above is just the tip of the iceberg. To learn much more about the local real estate market and to discuss your options, call the Oldfather Group today at 302-260-2000 and speak with a member of the coastal region's top selling sales team.
We look forward to meeting you.