When searching for real estate to buy either as a personal residence or for investment purposes, consult with a REALTOR who knows the market and with whom you have confidence to outline a sound search strategy.  Search parameters should include among other personal and economic considerations:

Location

• Local zoning regulations
• Future neighborhood construction projects
• Transportation facilities such as major highways, bus routes, etc.
• Location of schools, hospitals, places of worship, supermarkets, libraries, etc.
• Overall neighborhood trend. Are values appreciating or declining?
• Real estate tax rates.
• Availability of utilities.
• Topography and whether property is affected by flood plains.

Condition of Property

• Firmness of the foundation.
• Condition of the heating and cooling system.
• Condition of the electrical system.
• Good construction as evidenced by detail work, well-fitted windows.
• Condition of roof and basement areas, if applicable.
• Insulation that measures as advertised.
• All utilities in good working order.
• Property free of low, wet spots; grading that slopes away from buildings for good drainage.
• Estimation of costs to improve the property.
• For investment property, amount and quality of income as evidenced by in-place leases.

If in doubt -- or just for peace of mind -- professional building inspectors or architects can render a professional opinion on the condition of the house or building on the property.  Attorneys can render legal advice.  Your REALTOR can assist in recommending a list of professionals from which to choose.