Buying a Home
When buying a house, everyone has different priorities. The buying process can be complex and definitely takes time so it can be easy stray off track. If you create a list of priorities, this is a helpful way to get through the process without overlooking the features that are most important to you and your family.
A trained and experienced REALTOR will welcome your idea of using a prioritized list. Understanding which features mean the most will help rule out the properties that aren’t idea for you – and will compare the homes that are better suited.
Here are a few things to think about before buying a house. Each rank differently in importance for your own needs, but all are worth looking at. If you haven’t already seriously considered these factors, you really should before moving forward as it saves you so much time during the process.
Make sure you discuss all the important details with your family and spouse. Get together on the list and importance of each feature. Here are some considerations before purchasing a home.
Location, Location, Location
You want to find a location that allows easy access to the places you frequent the most (friends, family, work, school, shopping, place of worship). Check for how easy it is to access main roads and traffic flow.
Looking into this before a deciding on a location can save you from the hassle of getting out of your neighborhood and into the main roads. This can make all the difference between an easy or an unreasonable long commute. The location within the neighborhood is important too. You may prefer to be near near the main entry into your area while others like to be away from traffic and further into the development.
Also check out if there is community pool, park, or recreation area. Some homeowners would choose the closest lot while cul-de-sacs are preferred by others, and even then some like living on the main streets with easy access. Discuss all of your preferences with your REALTOR, and keep in mind that some locations and property bring a higher purchase price due to higher demand.
Age of the Home
The age of the home will vary depending on location and your price range. Decide what is most important to you before looking within your budget. For instance, older homes have a certain character that is appealing to many but they are alsmo more expensive to maintain and update. If you have time, desire and money to manage these projects then an older home may make sense.
Another thing to keep in mind is that building codes change over the years and you need to have an those requirements too. If you have an older home that needs a repair, it could be more costly due to the need to meet local codes.
On the other hand, if you want to avoid the headaches and challenges of an older home, you can always choose a newer home – which can often mean a higher price. You have to weigh all the options.
Square Footage of the Home
How many bedrooms and bathrooms?
Everyone has an idea of how many bedrooms they would like. Most people will want at least two, and that number increases if you have children.
Some kids like to share bedrooms while others have separate bedrooms to accommodate different bedtimes and personal routines. If you have regular visitors for any length of time, it’s nice to have a bedroom that is designated as a guest room.
An extra bedroom often doubles as space for a playroom, den, workout room or home office. Many hobbies can take up extra space – the spare bedroom serves this purpose too.
If you have kids, you need more than one bathroom. Keep in mind that older homes will often have only one bathroom. Buyers often look for areas to add a second bathroom or half bath. The size and style of the bathroom is important too depending on your needs.
Price
It may seem obvious, but the price of a home is a big consideration. Before beginning to look for a home to purchase, determine your price range and get pre-approved for a loan. This will help speed up the process.
Also remember to think about how all costs affect your finances and stick to your decision on price range and mortgage payment.
Seller
When looking for homes, you will find that some sellers are more motivated than others. Some people will place their home on the market but don’t really care if it sells or not. If not, they are happy to continue living there and will try again later. With this type of sale, there is not usually much wiggle room on the price.
There are times, however, when a seller is highly motivated to sell. Examples might be: an estate sale, a job relocation and need to move out of state, or someone paying two mortgages and wanting to sell and get back to only one payment.
Your realtor will help you determine how motivated the seller might be and how to draft the offer and counteroffers to get the best price.
Maintenance
Staying true to your priorities will be important in finding the right home.
Understanding the age and condition of the home will help determine how much work and money will be needed to maintain your investment over time.
If we can ever be of assistance to you as a professional REALTOR for your home buying journey, reach out to us here.
If you have have a family member or friend who might benefit from this helpful home buyer information, please consider sharing it.
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If we can ever be of assistance to you as a professional REALTOR for your home buying journey, reach out to us here.
If you have have a family member or friend who might benefit from this helpful home buyer information, please consider sharing it.
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