Gene Mundt - Let's Talk Mortgages & Real Estate!

     Building Your Potential Home Purchase ... Starting From its Infrastructure Up!

     Are you considering a move into a different town, different subdivision, county, or state?  There are many facets of a purchase that are important.  Location.  The condition and cost of the property being considered.  Finding the right professionals to represent you.  Mortgage financing concerns.   Finances themself.

     But, here's something additional to consider very seriously.  What is the condition of the infrastructure in that area?  What services are included in that property's infrastructure?

     First, the definition of infrastructure:  The basic physical systems of a business, nation, or government entity.  Transportation, communication, sewage, water, electric systems, schools, are all a part of infrastructure. These systems tend to be high cost investments ... however, they are needed for a country to be efficient and productive.  (Merriam-Webster dictionary)

     The infrastructure impacting your home may determine the quality of life you enjoy in that property in the most basic form.  Questions you should ask regarding a specific property's infrastructure could be the following ...

     "How often will the property experience electrical service problems ... will electricity go out often?  When tap water is run in the kitchen ... will it smell of sulfur or be speckled with iron?  What is the EPA quality of that water?  Does the property have technological services ... what cable or wireless computer capabilities are there?  When laundry is done ... will the water flush out into well-functioning sewer pipes?  If problems exist, will those problems shut-down other area services, such as commuter trains, cell towers and service, subways, highways, and more?  What is the age of the infrastructure systems that supply services to that home?"

     Knowing the age and condition of the town's, subdivision's, county's, or state's internal infrastucture should appear on your Top 5 List of "Things to Find Out" before you buy.  It's that important.  Stop ... think about all the ramifications to you and your quality of life that are possible.  What would be your "trickle down affect"? 

     And, do not think that just because you are considering a move into a newly constructed home located in a new subdivision, that you are exempt from infrastructure issues or problems.  That is NOT the case.  Know whether water treatment plants are large enough .. or have been added ... to service the growing number of homes in your area.  Find out if monies have been withheld by the government entities ... or arrangements have been made ... to address the abuse of the area's or subdivision's streets AFTER construction has been completely built-out.  Think about what your left to contend with if these elements are NOT in place. 

     Things as simple as the level of postal service to the area, police, fire, and libraries should be considered. The school system serving the children living in your area is of extreme importance.  Schools are a huge deciding factor not only in the quality of life you live, but in maintaining the value of your property.  This is true whether you have your own children participating in the school system or not.  Discounting this fact could prove extremely damaging to your finances when and if the time comes to sell your home.

      Cover the most basic of services and question their current status and repair when in search for a new home.  Take the time to do the research needed to find the answers and information you need to make a qualified and intelligent choice regarding your future home.  Find the performance records for the services provided to your property.  Learn what is planned in the future for those services, the costs of the improvements or repairs, and how they will be paid for.  Inquire as to what increases in those services (and their corresponding costs) you can expect to be held accountable for in one way or another, should you buy.  

     Only after making all these efforts will you be fully prepared and ready to make a final decision regarding the purchase of the property you are considering.  You will also know that you have taken every possible precaution in protecting your quality of life in that property ... and your personal finances while there. 

     Start with knowing the infrastructure of your potential home ... and build upon that ...