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Check Flood Zones -
Ensure you are informed about the flooding rating of your future
home. Every real estate agent is required to provide this
information when asked. You may need to ask for it more than once.
Although it is required information, some agents intentionally
withhold sharing it. Some areas of The Rio Grande Valley have
drainage system that leaves a lot to be desired. The area is flat
and the poor drainage system sometimes fails to drain water
adequately. It is also well known many levees along the Rio Grande
River are old and would not function adequately when required to.
This aspect should be examined closely if you are purchasing
property at South Padre Island or anywhere near the ocean. Do not
get caught in another Katrina disaster! All home owners are
encouraged to purchase flood insurance. Remember, flood insurance is
not covered by basic home owners insurance. It must be purchased
separately.
Was the house built on original farm land?
The Rio Grande Valley is expanding at an incredible rate. In the
1990s the McAllen – Mission – Edinburg area was the fastest growing
area in the nation. Just recently, I read an article in The Monitor
stating the McAllen area was leading the nation in job growth. Many
new developments are being built on old farm lands. This can cause a
battle with insects and wild animals for the first few years.
Depending on how you feel about insects this may be a concern.
Check the building material being used.
Many contractors will try to lower construction costs by buying
materials from Mexico. This can be a disadvantage or an advantage.
Some materials from Mexico do not have any warranty and replacement
costs may be too high. Some materials are just sub standard and may
later prove to be very poor quality.
Check the energy efficiency of the home.
Request electric bills from the former owners from the prior summer.
Have a professional check your door and window insulation. If your
doors and windows are poorly insulated you can spend a fortune on
electricity. Seek professional advice regarding the size of your
home and the air conditioning unit installed. You may need it
changed or zoned. Some homes built by OBRA homes have units that are
too small for the size of the home. Since the air conditioning unit
is too small, it will have to be continuously running to adequately
cool down the house. If given the option, choose the Magic Valley
Electric Cooperative Company for your electric provider. According
to Power to Choose.org, CPL, another electric provider, charged
$0.1690/kWh compared to $0.097077 from Magic Valley.
Zoning - Find out from
the city about the future development plans of the location where
you intend to buy a home. You do not want to buy an incredible home
only to have other builders make the neighborhood less valuable by
putting up structures that undervalue the location. Most
developments have a minimum price value set for the homes built.
Some developments could have multiple builders with multiple ideas
of what market they intend to service.
Annexing. It’s very easy
to live outside the city limits. A nearby city could annex your land
and you may end up paying higher taxes. This is usually an
unexpected expense.
Check references in detail.
There are a number of construction companies in the area. Look for
a company with a great reputation that has numerous references.
Many construction companies have declared bankruptcy after building
sub standard homes. In the Rio Grande Valley, there are no
inspections performed on homes to ensure that the building is up to
code! When issues arise after the builder has completed the
building of the house, the builder may never return to make the
necessary renovations.
Check out the school system
that your children may attend. Not all schools are created equally.
The Science Academy in Mercedes has ranted in the top 100 schools in
the nation consistently.
Location of your home in
relation to your place of work matters. Since there is major
construction on most highways, ensure that you have ample time to
travel back and forth from work.
Internet - Some remote
locations still have no access to basic necessities like the
Internet. Make sure that you have access to DSL at least.
Foreclosures are on the
rise. Make sure you ask your real estate agent to look into some of
those if your budget is limited. They may be a good resource for
you to get into a bigger home without stretching you mortgage.
For Sale by Owner -
There are Rio Grande Valley residents selling their homes without a
real estate agent. Most of these residents are trying to move
elsewhere or are trying to avoid a foreclosure and might be willing
to sell their home less that what it is worth. Make the time to
scout out the area you are interested in living in and you may be
lucky!
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