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Besides price, you need to consider these four aspects of a real estate property before putting down your offer.
Your needs. Consider how much space you need for your work or for your family. Does it have that office space you need for business web conferences or to trade commodities online? What about the kitchen? Is it too small, or is more than you could maintain?
School districts. Whether you are planning on putting the house back on the market or making it your permanent residence, you need to consider the schools in the area. Would you be happy to send your kids to the schools in your district? If not, are there good private schools in the area that you could afford to send your children to?
The neighborhood. Look at the houses and land surrounding the property. Will they drag the value of the place down, or will they bring it up? Are they well kept or run down? You may also want to look into the crime rates of the area that will help you decipher if the neighborhood is considered a safe part of the town.
Development. Not only do you need to consider how the area looks now, you also should look at where it is going. Are more people moving into the area, or are people leaving the area? What about businesses—are they starting up new stores? By looking at these factors, you can see if the value of the property is more likely to rise or fall.
These four aspects of the property can help you decide if this is the home you want to put your money down on, or if you need to keep looking.