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Real Property: Purchasing A Residence With A History Of A Serious Health Conditi

Factors To Consider When Purchasing A Residence

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  • If you're purchasing a home for investment purposes, it is never a good idea to be the most expensive home on the block.
  • Health providers. For example, quality of, and distance to, nearby health facilities, including doctors, urgent care centers and hospitals. Average response time for ambulances.
  • Check what it's like to live in the house. For instance:
    • A web site such as Zillow.com offsite link gives you the low down on what happens in a neighborhood. Keep in mind that some of the postings on these sites may be no more than gossip or may be malicious attempts by a neighbor to get even with a seller.
    • Some sites tell you about stores and services in an area. For instance. www.Yelp.com offsite link and www.Outside.in offsite link
    • Learn about walkability (nearness to stores etc.) from Walkscore.com
    • Learn about drought history in the area at www.DroughtScore.com offsite link
    • Some sites provide information from residents about neighbors and local services. For example, see: StreetAdvisor.com, Rotten-Neighbor.com, www.YourStreet.com. Keep in mind that information from neighbors is not checked by the site, is subjective, and can be dishonest.
    • Crime statistics are available at www.Area-Connect.com/crime offsite link
    • Learn about local sex offenders at www.FamilyWatchdog.us offsite link
    • Real estate brokers are beginning to hold themselves out as consultants about local housing markets. For example, see: www.ActiveRain.com offsite link, www.Realtor.com offsite link
  • Learn about potential environmental hazards. For example:
    • The Environmental Protection Agency has a site that informs about levels of air and water waste pollution, hazardous-waste sites and releases of toxic chemicals in a given city, county or zip code. www.EPA.gov offsite link
    • Environmental Data Resources (www.edrnet.com offsite link) provides a report on hazardous or toxic waste sites near a property. As a general matter, you have to purchase a report from this company through a home inspector.
    • www.Neighboroo.com offsite link lists local air pollutants and water quality (and crime rates) for free.
  • Check to see about property tax hikes. Contact the local assessor's office to find out what has been happening recently in the neighborhood.
  • What it will cost to live in the neighborhood. The cost-of-living calculator at www.Bankrate.com offsite link will give you an idea.

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