When purchasing a home, there’s more to think about than just the home itself. There are many factors that may affect your comfort in your new home, both mentally and physically. Make sure during the contract process you do your due diligence as a buyer and research the things that are important to you or might affect your decision to purchase the home. Check with your real estate agent on dates and deadlines to make sure you know the time-frame you’ll want to accomplish this research.
Property Insurance / Homeowners Insurance
Call your current insurance company and other property insurance companies to compare quotes. Make sure you have the information about the property in front of you (either a MLS sheet or assessor records) and can answer basic questions about the home. The main purpose of this step is to make sure you’re (1) comfortable with the potential rates (2) that the home can be insured based on the current condition.
Substance Testing
During your home inspection phase, you have the right to test for substances in the home as long as you’re not altering or destroying the home. This means you can test for things like methamphetamine, marijuana residue, mold, lead based paint, radon gas, and more.
Sex Offender List
Keep in mind your neighbors will come and go and things can always change around your home. However, if you’re concerned about potentially living around someone who is a register sex offender, you may want to consider doing a search prior to purchasing the home so you’ll at least know where they live in your area. https://www.nsopw.gov/
Crime Rates
Many buyers are curious about the crime rate in the area surrounding their potential home. Whether you’re currently under contract on a house or still searching for a home, knowing the crime stats might help you pick your desired neighborhood. Consider asking locals and friends as well, or get feedback using local area groups on sites like Facebook or Nextdoor. https://coloradosprings.gov/police-department/page/cspd-statistical-and-annual-reports
Flight Patterns, Train Tracks and Highways
Take time to research your proximity to transportation routes which might be a nuisance. Whether it’s noise from a nearby highway or interstate, or the travel patterns or trains and airplanes, some people like the noise and others might regret ever buying a home near these routes. Make sure you experience the neighborhood at different times of day and night, ask the sellers, and do your diligence if you think it’s going to be a concern down the road. Also, check if there are future plans for these types of improvements.
Flood Zone
Check with your agent or use the link below to verify if your home is in a flood zone. If it is, most likely the lender will require you purchase flood insurance (if you’re getting a mortgage to purchase the home), and sometimes even the title company will require flood insurance. Keep in mind, flood zones can change.
https://www.floodsmart.gov/flood-map-zone/find-yours
Building Permits
The history of permits pulled on a property is all public record. You can search any address to find if permits were pulled for home renovation projects, home additions, mechanical systems like a new furnace, plumbing upgrades or fixes, electrical changes and additions, etc. Details including the date and contractor are available on Pikes Peak Regional Building Department’s website.
https://www.pprbd.org/
Let your agent know if there are other things that concern you or that may keep you from purchasing a home. Your agent doesn’t want you to regret the decision or be surprised in the future. Check with your agent on what type of items are required to be disclosed by the seller and get a seller’s property disclosure prior to your home inspection date.
