Factors to Consider When Buying a House in Virginia Beach
Buying a home in Virginia Beach is an exciting and crucial milestone. However, there are various components to consider, and each one of them is different for everyone. What might be a must-have for some people could be turn off to others. Thus, every homebuyer ought to consider the following factors carefully before diving in the deep end of the real estate market.
The overall market
Check whether the overall Virginia Beach home market is a buyer’s or seller’s one. For the buyer’s market, home buyers have the advantage, as there are many homes available and the prices are economical. Conversely, in the seller’s market, there are fewer homes, and the sellers have the leverage to negotiate higher prices with several buyers who are bidding for the homes.
Water leakage and floodwaters in a home can cause damage to foundations, electrical systems, wood, ceilings, and floors. These damages can be quite severe and expensive to repair. Hence, it is recommended to check for any signs of leaks in the bathrooms, kitchen, laundry room, and basement before buying the house.
Size and space of the house
Before moving to Virginia Beach, make sure that your home buying process factors in the long-term growth of your family. The size and layout of the home including the number of bathrooms and bedrooms, type of kitchen, and living space should all be considered. Also, check the availability and size of the garage in your new home.
Costs and affordability
Like any other investment, you will have to stick within your means when buying a house in Virginia Beach. You should consider consulting a financial expert who will enlighten you on the ins and outs of buying the home. Also, it is crucial to note that besides purchasing expenses, the oceanfront home requires more maintenance than in-lands. That can include insurance costs, and usually the coastal homes, mostly need three types of coverage- flood, hurricane or wind, and general homeowner’s coverage.
Age of the property
Most property listings usually note when a house was constructed. However, it is crucial to learn the age and any remodeling of the home’s elements such as water heater, furnace, and roofing. Checking them can help you avoid costly replacements.
Check the kitchen to ensure that it has enough cabinetry to hold all your glassware, dishes, and cookware. The bedroom closets should also be large to accommodate all your needs. Besides, you need storage for your linens, holiday decorations, and tools. Otherwise, you might need to consider the cost of buying additional storage containers and the availability of spaces where you would put them.
While searching for a house, it is essential to find the right amenities that suit with all other must-have features. For instance, if the property is on the water, check if it has deep-water access and a boat slip or has a high-tech security system. However, remember that the more luxurious things a home have, the higher its price.
The condition of the location
The place where the home is located is something you should be very particular with when looking for beachfront properties. Check whether the place can be submerged during high tides and if the soil tends to be too muddy. Also, the beaches are usually victims of hurricanes and erosion. Therefore, spend some time to research information from Virginia geological survey to ensure your home is on the safe side of the shoreline.
A home inspection expert
While in most cases it is a given, a home inspection is crucial, especially in coastal areas. An inspector can look for all signs of wear and tear that might come naturally or as a result of the sea and its storms. He or she can tell you if the house has been flooded and the frequency of the floods.
Engage a local realtor
Getting help from a local real estate agent is indispensable during your search for a house in Virginia Beach. A good realtor will guide you through the purchase process or even help you find mortgage financing.
Buying a house can be one of the greatest investments that you can make. But, during your home buying process in Virginia Beach, it is crucial to consider all the factors needed to assure that you get what you want.
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1180 Lance Rd Norfolk, Va. 23502
757-234-7080 or 800-587-7474
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