Buying a home is an exciting and daunting endeavor. Before making a commitment, you’ll need to consider a range of factors, including the house appraisal. If you’re overwhelmed by facts and figures in front of you, this guiding information will help you focus on what matters most. 

What Should You Know Before Buying a House?

While you’re in the process of viewing homes, both the lot and home size should be top priorities. Most listings will include the size and shape of the lot the home is on. When you visit, be sure it suits your priorities. For example, even if it’s large, does it have enough room for you to play inside and outside with your children?

 Make sure there’s a clear boundary between the property and neighboring ones. If not, you’ll want to ask the real estate agent about it and sort out any potential disputes before you make a commitment.

When it comes to the size of the house, consider your future plans. Will the house suit you if you have more children, pets, and plan to host more gatherings? If you or your partner changed your job, would you still be able to afford the mortgage? Asking these questions now will save you the expensive hassle of another move or a renovation.

Remember that when it comes to the contract, there is room for negotiation. For example, if you need more time to review the house appraisal or want to waive a certain test, you should be able to make that part of your negotiated deal.

How Can You Ensure You’re Making a Smart Investment?

A house appraisal will give you an accurate, unbiased sense of the home’s value, therefore protecting you from potential financial hardship. For example, if you disregard the appraisal and end up paying more than a home is worth, and then down the line, lose your job, you might end up having a foreclosure. However, if you buy at a fair price, you might be able to break even in selling the home.

Go beyond purchase price when considering the costs associated with a property and think about the costs of maintenance, insurance, and taxes. If you plan to upgrade the appliances, that might be a one-time expense that’s easy to budget for, but what about ongoing expenses like the cost of maintaining the HVAC system, garden, or a swimming pool? By considering the full picture, you’ll budget smartly and avoid unpleasant surprises.  

Whether you’re buying or selling a home, you can count on Tri-County Appraisals in Loveland, CO, to ensure you get a fair price. Their experienced appraisers provide clients throughout northern Colorado with accurate information to assist them not only in real estate transactions but in obtaining loans and tax assessment appeals as well. Their lead appraiser, Kenneth Levartu, has over 20 years of experience and an SRA designation from the Appraisal Institute. To schedule superior appraisal services, call (970) 888-3733, or learn more about this reputable company online.