Long-Term Risks and Issues To Consider For A Home Purchase

Make sure to check a few practical risks in the decision process for a new home, including:

  • Natural disaster risks
    • Is it in an earthquake-prone area?  Is earthquake insurance available, and how much does it cost?
    • Likewise, are hurricanes a risk?  Tornadoes?
    • How high does the property sit, and is there a risk of flood? (Watch the video on floods here on Video-Genius.)
    • Are there hazardous materials in the area?
  • Building Code compliance; the house should meet local codes.

Local zoning and (if applicable) homeowner association rules can also play a big role in future changes.  If you envision remodeling, making an addition, or other substantial changes, be sure you understand the regulations and permits that will be involved.

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