Space and Neighborhood Concerns in Buying Foreclosure Houses

HomeReal Estate

  • Author Joseph B. Smith
  • Published August 25, 2010
  • Word count 377

Before making an offer for foreclosure houses, a buyer should spend some time inspecting the property and examining the surrounding areas of its location. Even if a foreclosed property is offered at a slightly higher price than other foreclosed dwellings, it might be worth the extra cost once other features are taken into consideration.

Extra Outdoor Space

A home buyer looking for a family house usually favors a single-family dwelling or a single detached property. When looking at such properties, the buyer can consider paying a few extra dollars if the home has enough backyard space where a lot of additional features are possible. An outdoor space can be an added attraction, particularly for people who like gardening. It can also serve as a mini-playground if the family interested in buying it has children. It can also be used to build a garage or serve as a work area.

Neighborhood Features

Family buyers are often concerned about the accessibility of schools, offices and other necessary structures when they look for a home. A property located in a place where schools and grocery stores only take a few minutes to reach is a good deal. Foreclosure houses located in neighborhoods where most of the residents are families are ideal for buyers who are planning to use the property as a family residence.

City Rules and Safety

Home buyers should familiarize themselves with the laws governing residential properties in the neighborhood they have chosen. Some areas in the U.S. have specific rules when it comes to home extensions, paint color and even fence size. There surely is a particular reason for all these rules, but for a home buyer who does not appreciate such rules, knowing what guidelines are in place is important.

Another significant factor is the safety of the neighborhood. Before deciding to purchase a residential property, find out whether the area suffers from high crime rates and whether local security officers are quick to respond to resident calls. It would help if the buyer interviewed neighbors and local shop owners to find out the neighborhood's level of security.

When choosing foreclosure houses, a buyer should not only inspect the inside of the property but should also exert effort to know the characteristics of the neighborhood and its residents.

Joseph B. Smith has been educating buyers on the finer points of foreclosure houses at ForeclosureDeals.com for over ten years. Contact Joseph B. Smith through ForeclosureDeals.com if you need help finding information about foreclosure houses.

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