The 4 Most Overlooked Factors to Consider When Buying a Home

Don't end up with a property you aren't happy with just because you forgot to consider these issues.

When buying a home, there are some common traits most people focus on. The price of the property is important since it will determine your monthly mortgage payment and other housing costs. The aesthetics of the property and its size are also important, as they can impact whether the space works for you and if you enjoy being in it.

But while it's common for buyers to focus on these big issues, other factors are often forgotten -- but they could affect your happiness and finances for decades to come. Here are four things not to overlook.

1. The school district

If you're not a parent, chances are good you won't spend a lot of time thinking about the school district of a property. That's especially true if you aren't planning on having kids.

The only problem is, those who do have children often focus on the school district as a key factor when choosing whether to buy a property. As a result, buying a house in a bad district could make it much harder to find a buyer later.

If you want your house to hold its value and be attractive to the widest pool of potential buyers in the future, a highly rated school district should be a key consideration when choosing which property to purchase.

2. The traffic conditions

Sitting in traffic isn't pleasant for anyone. Unfortunately, many people fail to consider what the roads will be like around their new home.

Be sure to carefully think through your commute to work or school when looking at a property. See if you can get to restaurants and stores without having to travel in busy, high-traffic areas.

While this may not be something you think about as you shop for properties, the traffic conditions will affect your happiness while you live in the home. If you're constantly getting stuck in traffic jams and feel like you can't leave your house without hassle, chances are good you'll end up regretting your purchase.

3. The age of major systems

A home's roof, electrical system, HVAC, and plumbing may not be things you think about too much when you're on a home tour. Especially since many of these features are tucked away out of sight.

Unfortunately, repairing any major systems in a home can be hugely expensive. And while a home inspection should reveal current problems, you also need to think about how long it's likely to be before replacement becomes necessary -- even if the systems are working properly when you buy.

For example, if you are looking at paying tens of thousands of dollars to replace a roof within a few years of buying the property, you'll want to take that cost into account when you make an offer.

4. Any future zoning changes

Finally, if you want to use your property for a specific purpose -- or if you don't want to live near properties that have certain functions -- you need to look into future zoning changes. Your local planning authority should provide insight into whether any projects are on the horizon or proposals have been submitted to make major changes.

By taking the time to carefully consider these often overlooked features, you can make sure your house will work for you in the long term. You'll likely be much happier than if you'd just focused on the surface aesthetics and ended up buying a property with a big problem that's hard to resolve.