Buyer’s Tip #2: Finding the Right Home

Buyer’s Tip #2: Finding the Right Home

Purchasing a home can be exciting, and it’s tempting to place an offer on the first house you fall in love with. But exercising a little patience will go a long way toward turning your purchase into a haven instead of a headache.

At this point in the home buying process you should know exactly what you can afford. You have gone through the mortgage loan preapproval process (Buyer’s Tip #1: Preapproval) and are ready to look for the perfect house that fits your budget. So where should you begin?

Location

That old saying holds true, when it comes to real estate it’s all about location, location, location. You probably already know if you want to live in the hustle and bustle of the City or enjoy the more relaxed vibes of the Suburbs or Country. However, there are a few other things to consider. Take, for instance, lot location.  Cul de sacs are a great fit for families as they provide a safe, watchable area for kids to play in. You get to know your neighbors more intimately as well, which could either be a pro or con depending on your preference. Corner lots are often larger. This could be a great perk, but keep in mind there is more to maintain which can affect your budget. Plus, like lots on busy streets, you are likely to get more noise from traffic, but street lots usually provide the best bang for your buck.

Type of home

Although going for a single family, free standing home can be enticing as they may offer more square footage, yard and privacy. Condos and townhomes have their benefits as well. They are usually less expensive than comparable single-family homes and have less maintenance requirements since they are on smaller lots.

Size

It is important to consider both your present and future needs when it comes to size. You want to make sure that the home has ample storage and enough space for you to grow into. The number of bedrooms and bathrooms shouldn’t just accommodate you now but should take into account any potential additions to your family within the next ten years or so. Conversely, within that same timeframe if you feel that a downsizing might happen, such as kids leaving for college or moving out, that is something to consider as well. Also, the number of stories should play a factor. Sure, you might presently be up for climbing those stairs multiple times a day, but will you feel the same way 5 or 10 years from now?

Other Considerations

• School District
• Special amenities that are high on your priority list, such as fireplaces, pools or spas.
• Condition of plumbing, electrical, heating & cooling units.
• Available utilities such as internet and cable.
• Fixers. If you’re handy with tools, you might save a lot of money if you consider homes that need minor improvements. However, don’t overestimate your time and abilities either. That can end up costing you more than just some serious headaches in the long run!

Now remember, although this checklist is a great guideline to keep in mind when searching for your home, it isn’t an end all be all. It can be difficult to find the perfect house that checks every box on your list. You might have to give up one desire in place of many others, so it is important to stay flexible but smart on the features that you want versus need. Cosmetic items, such as paint, flooring and cabinets, can always be changed as you go along. Happy hunting!