With the volatility of the housing market in the past couple of years, buying a home is not what it used to be. In fact, many industry professionals predict home prices may continue to drop before they get better. But what if you’re looking to buy right now? By ruling out certain red flags, you can help ensure that your potential investment  will be a good one. We went to Brandon Green, founder and president of Brandon Green Companies, who has four factors to consider when purchasing a home.

Location
This is something you won’t be able to change, so make sure the location is good. If the home is next to a busy road, train tracks or a major commercial development, that could lessen its value. Is there an empty lot next door? Look at the city plan and find out what the city has in store for it.

Property Condition
How structurally sound is the property? Structural imperfections can end up costing a lot of money, so you want to make sure the home is in good shape. How functional is the layout? Are there small, cramped rooms? Is this something you would have to fix in order to resell it?

Size of the Lot and the Lay of the Lot
Is the lot unusually small? Unusually hilly? Will there be drainage problems? Can you use the backyard? It may have square footage, but if it’s on a steep incline, it could be hard to landscape.

Environmental Issues
Make sure there aren’t old oil tanks underneath the ground. Also, inquire about lead-based paint. (If the home was built before 1978, there is the possibility of lead-based paint. The same thing goes for oil tanks if you’re looking in the Mid-Atlantic and Northeast).