What to Consider When Buying a Home. I get this question all the time as a real estate broker! The answers can be vast and varied, so we’ve come up with a rather concise and compact guide to get you started. A great way to make the home-buying process flow smoothly is to educate yourself and learn from mistakes others have made. Here are my Top 10 Considerations When Buying a Home!
- FUNDS ARE FUN :: Get pre-qualified or pre-approved – don’t get in over your head and stretch yourself too thin. Make sure you have an emergency fund at all times, so you’re not overly stressed out when life throws you some curveballs.
- GO PRO :: Seek guidance from real estate professionals and inspectors – These people are trained in buying, selling and inspecting. Find someone you respect and trust and allow them to help – it will benefit you in the end.
- DATA :: Gather as much information about the properties – make sure to look at comparables, drive around the neighborhood and see whats nearby. Make sure your realtor checks for future developments nearby.
- HIDDEN COST :: Calculate all the costs: When calculating the maximum price you can afford, don’t forget to include hidden costs, i.e. moving fees, days taken away from work, etc. Calculate a reasonable price range and look for a house that is priced closer to the lower end of your range.
- BONES ARE BEST :: Look past the interior decorating or cosmetic improvements – Don’t choose a house because you like the interior decorating – that is not what you are buying and it will most likely go with the seller when they move. Check out the actual structure, the bones, of the house.
- LOCATION, LOCATION! :: Within every neighborhood and subdivision, there is a difference in location. Is it on the busiest street? Is there a shopping center out the back window? Is there a train track that you can hear going by? These are just a few examples that can cause a home not to sell as easily as similar homes in a same subdivision.
- CUSTOMIZE :: When buying a home, it is very important to make an investment that fits the needs of you and your family. How do you really live? Do you really need a formal dining room and living room? Would you be happier with an eat-in kitchen and a great room and a den to use as a home office? The house only needs to fit one family…Yours.
- INSPECT :: Have The Home Properly Inspected: This is not the time for surprises. In the long run, it will pay to have a home inspection performed by a qualified, respected professional. You may be able to save yourself a lot of money and headaches by finding out about potential issues before purchasing a property.
- HOMEWORK :: Check Out The Builder’s Reputation On A New Home: Talk to three or four people who live in the builder’s homes and see what they have to say. If one builder did all the houses in a neighborhood, talk to the residents and get their input.
- PATIENCE IS A VIRTUE :: Take time to review all the information and what is available. Impatient decisions can lead to mistakes. That is why it is always smart to work with a full time Real Estate agent who knows the intricate market.
There are so many more things to consider when buying a home, but this is a great list to get you started. Please feel free to contact me and we can delve deeper into this subject and get you and your family on your way to being home owners!