Fsbo

Owning a home fulfills a central element of the American Dream, but if you don’t do the math, it can quickly turn into a nightmare.

• Check the test scores of the local schools; regardless of whether you have children, future buyers will want to be in a good school district. Many strong school districts have parcel taxes, but there are almost always more potential buyers than there are homes available. Good news for when the kids go to college and you want to move away.

• Hire an environmental research group to do an appraisal of the neighborhood. Each state has different laws governing what sort of potential health hazards have to be disclosed and how far away those hazards have to be from the house to be considered serious. Outside health and environmental factors should be considered as important to price negotiations as interior tests for lead or structural damage.

• If the neighborhood has a historical preservation board, figure out how much leeway they’ll give you for additions and remodeling. In some areas, homeowners need to get sign-off before making any changes. This can mean limits on the color of paint or style of architecture, as well as restrictions on how big a house can become based on the size of the lot.

Look at the the dangers of home buyers failing to get correct property searches done. Couple look on in dismay as bus and ramblers have right of way over their land.

This entry was posted on Thursday, July 26th, 2007 at 9:35 am and is filed under FSBO. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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