How Zoning Restrictions Could Impact Your Home Purchase
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Most home shoppers do not think about how the property they are considering is zoned. However, depending on certain circumstances, it may prove beneficial to check into zoning restrictions before you purchase a home. First, some homes are built in areas where there is mixed zoning — residential and commercial — which could cause problems when you are searching for a home mortgage. Your real estate agent is obligated to inform you of any special zoning of a property you are considering.
Work from Home Zoning Requirements
Some municipalities have specific requirements for home office work. While those who work from home doing computer coding, telemarketing, or data entry may not have clients or other people coming in and out of their home during business hours, it is still important to verify with the city or town that local business licensing requirements are met.
Other types of businesses that work directly with customers such as pet grooming, hairdressers, nail technicians, or day care providers should make sure their physical location is zoned appropriately. In some cities and towns, having a home business that involves customers come to your house can run afoul of zoning rules. Since your business may create additional traffic, it is something you should consider before you sign a purchase and sale agreement.
Mixed Zoning May Increase Taxes
As a buyer, you should also be aware of how zoning laws impact your taxes. For example, most municipalities have different tax rates for property which is zoned residential and commercial, others may have a different rate for property which is classified as mixed. In nearly all cases, property with a commercial zoning classification means higher taxes. Keep in mind, it is not unusual to find multi-family homes built in commercial or mixed zone areas.
Buyers should be aware there are some municipalities with zoning requirements that can impact their ability to have certain outbuildings on their property including sheds, barns, and decks. Your real estate agent should be able to answer any zoning questions you have and help you determine if they will have an impact on your ability to get financing or use the property in the manner you intend.
About the Author
Julia Brown and Barry Weiss Weiss
Introducing the partnership of Brown & Weiss. Julia & Barry have a combined 23 years of experience in real estate and over 70 combined years of customer service. They each have lived in the Wilmington area for over 20 years and are very familiar with the local market. Their savvy negotiations and cutting edge marketing join uncompromising integrity as the hallmarks of Julia and Barry’s service. They are well respected in the Wilmington area not only for their professional track record and high ethical standards, but for being hardworking individuals that will do anything in their power to ensure their client’s success. Julia and Barry enjoy working for the number one real estate company in the area- Coldwell Banker Sea Coast Advantage. With the Coldwell Banker brand and their experience behind the sale or purchase or your home, you can’t go wrong. So, put us to work for you today and “Let us light your way home".
