Moving Where Tragedy Struck

There are some mathematical formulas that can be used to help you determine how much of a mortgage you can qualify for and actually afford. Click here.

Moving Where Tragedy Struck

17 July 2017
 Categories: , Blog

If you are looking for a home to buy then you may have found one that meets all your wants and needs, except for one crucial detail. There may have been a tragedy in the house that may have you wondering whether or not you should walk away from the house and continue on your search.

Each state can differ with regards to the real estate laws on whether or not the details of a murder, suicide or other tragedy need to be disclosed to potential buyers. In most cases, recent events do need to be disclosed, while ones that took place years ago don't. In some states, this information only needs to be legally disclosed if you specifically ask. So, know your laws for your state if this is something that concerns you. Here are some other things you may want to consider when thinking of buying a house where there was a tragedy:

You may be able to get a great house at an amazing price

If a tragedy has recently occurred in the home that has the potential to scare off a lot of potential buyers, then this can often be reflected in the price. If you aren't a person who is bothered by stuff like this, then you can walk in to a once in a life time deal as far as the price of the house goes.

You may have problems selling it in the future

Depending on the disclosure laws in your area or the amount of exposure the house got with regards to media attention, you might find that you have a hard time selling the house in the future if you decide that you want to move.

You need to decide whether or not your family will feel comfortable in the house

If you are seriously considering buying the house knowing its negative history, you need to decide whether or not the entire family is going to feel safe and comfortable in it. While you may be perfectly fine with living in the house, you may find that your children have a hard time dealing with it. This can lead to sleep disturbances, nightmares, anxiety issues and more. You should be 100% sure that moving in the house won't be a problem for anyone.

You may have people driving by your house and taking pictures

There are people who make a hobby out of collecting photos and/or writing stories about homes where tragedies have taken place. Also, there are others who will drive by out of curiosity since the house isn't too far from where they are. If you are a private person that this will bother, then it is another thing you should consider before making an offer on the home.

About Me
how much of a mortgage can you afford?

I have saved up for a down payment on a house for the last ten years. Each week, I would take 10% of my paycheck and put it in a special savings account that I could not access. Once I finally had enough money put away, I began looking for houses in the area that I could afford. But, what could I really afford? How much of a mortgage could I qualify for? There are some mathematical formulas that can be used to help you determine how much of a mortgage you can qualify for and actually afford. My blog will teach you how to make this determination.