Purchasing a “Dream Home” is one of those life accomplishments that tops nearly everyone’s bucket list. Whether you prefer a modernized urban loft or a sprawling suburban home most of us hope to find a home that feels like it was made specifically for our family. However, searching for your dream home comes with different considerations than any other real estate purchase
Since you’ll likely be aiming to stay in the property for the foreseeable future, you’ll want to look for a property that will keep you and your family happy for the long term.
Before visiting a home you can make a list of those that interest you:
If you’re thinking of buying a house, consider these four factors:
1.CONDITION
It’s vital to discover which homes for sale are in prime condition and which will require some investment to fi
Whether you’re interested in properties built in the last couple of years or residences constructed at the turn of the 20th century, chances are there are some blemishes — and perhaps even some major issues — that require attention and action. Here are the main home problems to look for …
Foundation: Any cracks, breaks, mold, and pests discovered near a home’s foundation are big red flags that indicate you may want to head to the next listing on your list.
Power and Heat: Faulty switches, poor wiring and insulation, low-performing air and heating systems, and window leaks are telltale signs of a residence that’s in dire need of some serious updates.
Exterior: Closely inspect panel siding, roofing, window shutters, and holes and cracks in walls and take a close look around the yard, like driveways, pools, sheds, and other outdoor areas for any potential defects.
Odors: Smell doesn’t lie. If something in or around a real estate listing causes a physical reaction — whether it’s general air quality or a specific problem area with mold — it may not be an ideal choice.
2.SIZE & TYPE
Determining size and style preferences is essential when hitting the market to check out real estate listings.
It doesn’t matter if you’re a growing family in need of an upgrade or a couple looking for a cozy retirement property, it’s imperative to consider what residence size and type is both acceptable and desire
Each listing your real estate agent shows you will have its own unique shape, size, and style, so it’s important to know what you want in your home, what you can live with, and how much space you actually need.
The type of residence you want to buy likely isn’t available in every community. For instance, townhomes are more prevalent in cities, whereas ranches are more common in suburban and rural areas.
Regardless of your home style preference, each on comes with its own benefits. Living in a condo in an urban area, for example, means you have just about everything you need within walking distance: grocery stores, gyms, theaters, etc.
Conversely, if you plan to purchase a standalone, single-family property in the ‘burbs, you’ll have more privacy and space for your kids to enjoy the outdoors.
Another consideration for home type is how many previous owners a specific home has had. Pre-owned listings tend to sell far cheaper than newly built properties, so if you have your heart set on a brand new home, realize that it will likely mean a larger down payment than previously owned residences.
3.Price
Narrow down your search by price point first so you only view homes for sale you can actually afford and don’t waste your time.
Prior to touring a single property your agent wants to show you, figure out what the maximum monthly mortgage payment is that you can easily handle paying off in full. There are countless mortgage calculators online, so find one, enter in the figures representing your financial situation — current income, projected income, savings, etc. — to help you determine what a feasible monthly home loan payment would look like.
Aside from your finances, also factor in payments for things like home insurance, property taxes, and, depending on where you buy, homeowners/condo association fees or flood insurance.
The silver lining to taking on these payments is you may be eligible for some tax deductions for items like mortgage interest, so consider that extra money coming back to you as well.
4.LOCATION
Identify specific regions, towns, or even neighborhoods where you would be happy to lay down a foundation.
What kind of businesses are nearby? What’s the quality of the area’s school system? Where’s the closest public transportation? It’s these questions— and seemingly innumerable ones just like them — that prospective homeowners such as yourself need to ask during the home search.
Though you may fall in love with a home’s living area, backyard, or roof deck, you also need to take into account what the community can offer you and your family — not only to ensure you live near great and useful amenities, but also to make certain you’re paying the appropriate price for a listing.
Work Commute: Make sure you consider whether it’s easy for you and any other adults you intend to live with to get to and from work when touring listings. Ask about local bus and train schedules and the nearest highways.
Child Care Services: Are there any reputable day care centers nearby? It’s important for parents with young children to find quality care for their kids.
School System: It doesn’t matter if you have kids or not — the quality of a school system greatly impacts home values and how a community evolves.
Public Services: Discover all you can about nearby hospitals, local police and fire departments, and general municipal services to get a feel for the community in which the listings you check out reside.
Crime: The rate and total number of crime committed in an area can have a drastic impact on home values in the long run.
Shopping and Attractions: Where are the best clothing stores? Are there are great nightlife spots around? Knowing you have plenty to do and enjoy near your new home is just as important as finding a suitable residence.
Water and Power: Knowing that all of the plumbing and electrical work done in a home and its surrounding neighborhood is essential. Also, ensure there’s no history of pipe breaks and power outages in your area, as that could spell trouble.
Ownership Situation: What are the most common types of properties in the area? Mostly real-estate owned residences? Newly built homes? This, too, can impact home values and neighborhood growth
Leave A Comment