New-York tribune., 1919-04-13
Many
the
By Kenneth w. Dalzell


especially those living in apartments
and the more densely populated sec
tions of the city, are considering pur-
chasing or building homes in the sub
urbs, especially in face of the recent
increases in rents and the knowledge
that building costs will fall off but
little, if any, for some time to come,
and then certainly not enough to offset
the increasing value of the land and
the amount Of rent being paid.
The first question to confront the
future suburbanite is "In what sec
tion shall we locate? Shall it be Long
Island, Westchester or the hills of New
Jersey?" That is a question for the
individual to decide, but the things he
should look at carefully and answer
before buying are: Is it a healthful
location? Is the transportation service
good? Has the town complete sewer
age system? Is the water supply
good? Can gas and electric light be
supplied at a reasonable rate? Are
there city conveniences, such as mail
delivery, fire and police protection
good schools, churches, clubs and, last
but not least, what is the possible
future of the place? Is it we'll pro-
tected by restrictions for residential
purposes? Will two family or apart
ment houses encroach or business come
too near? 1t is the restrictions on the
surrounding property that are of vital
interest to the purchaser, not the re-
strictions on the piece being bought
You know what you are going to do
and you also want to know what others
in the vicinity could do, should they be
so disposed.
Further Considerations
Having decided upon the town, the
next question is the location in that
town, and, in addition to the above
consideration, the question of drain
age, assessments for improvements
and title to the property should be in
vestigated. I have found many people
who have purchased property, simply
taking the warranty deed of the per
son or corporation selling, without
having the title searched. Sometimes
it is all right and sometimes it is not.
A warranty deed is only as good as
the financial standing Of the person
giving it. 1t is much better to have
the property searched by reputable
you go to a doctor when sick or to an
architect when about to build, so you
should have the title examined by a
lawyer when buying property In
| buying plot it is not bad idea to
have your architect look at it with
YOU Being right in line with his work
| he may see advantages or disadvan-
tages that would escape the attention
of one less experienced.
Unfortunately, financing the build
ing proposition often enters into the
problem While there may be one who
| has cash for the whole operation, there
are fifty who will need assistance in
the form Of building or construction
loan, which is a mortgage given on
the property. the money being ad-
vanced as the building progresses,
usually upon architects certificate ap-
proved by the owner. Many banks and
trust companies will make loans from
the plans and specifications, to an
amount of so to so per cent of the
cost of the house and lot. This mort
gage can usually remain indefinitely
as long as the interest and taxes are
kept up and the property is kept in
good repair.
Easy Financing
Then there are building and loan
associations, which are organized for
the express purpose Of assisting people
to own their own homes. They will
loan as much as 80 per cent of the cost
of the land and building, provided it
is a sensible proposition-tha is, the
right house for the section and the
value of the land and house being in