Become a Great Home Finder By Doing This
Finding your first, second, or any home for that matter is a time that can be joyful and daunting, depending on your approach and ability to spot the “diamonds in the rough”. Sure, you want your home to be the symbol of love, family dedication, and hard-working commitment towards your future, but how do you find the right one that ticks all the boxes? Here are a few pointers to make finding your next home easier and far less stressful too.
Look for a Home That Suits
When looking for a home, search for one that you could see yourself living in. Buying and moving takes a lot of time and effort, and can add up significantly in closing and moving costs. A decision to stay in one place for a longer period of time will help you avoid additional expenses. The extra, more enjoyable time in your home could also be enough to ride out any market downturns should they occur too. Consider finding a home that has the ability to adapt to your needs as your life changes – that new baby or returning college graduate who wants to save up for a home of their own. Consider a home that’s large enough to meet your anticipated future needs.
Look for a House You Can Afford
It’s easy to get over-enthusiastic and “shoot for the sky” when looking for a new home, so it’s important to maintain a level head to avoid overspending when it comes time to buy your home. Take stock of your finances, keeping in mind the current and future expenses you may incur with the purchase of a new home. Documenting your monthly expenses in a spreadsheet is a great way to get your head around this and ensure you don’t exceed your means. Remember, it’s smarter to buy a home you can easily afford, so don’t make things more difficult for yourself than they need to be. To assist with keeping a budget, consider older existing homes as well as the new. While you might not like a previous homeowner’s decorations, these are superficial and can be changed both easily and for a far cheaper price than a new home!
Location, Location, Location
As every good listing agent will advertise, especially at auctions, it’s all about location. You’ve likely heard it all before, but this really is an important factor to consider when looking for a home to buy. Becoming a great home finder is largely about knowing where the good locations are. A house that’s located on a busy, noisy street may be less enjoyable to you as a homeowner than one situated on a quiet, secluded cul-de-sac. Remember, when you purchase a home, you not only get the house, but the neighborhood too. Be sure to take a good look around and see if the neighborhood will suit you and your family. Loving the house isn’t always enough. In many cases, the loud neighbors next door or the school across the street will dampen the desirability of a home very quickly.
Look for Investment Potential
While it’s easy to think of your new property purchase as a home first and not an investment, it doesn’t make sense to extend yourself beyond your financial means just for the sake of your “dream home”. Failing to keep your budget in mind and acting more from the “heart” may lead you to mistakenly purchase a “white elephant” which could leave you deep out-of-pocket. Instead, you should consider how your future home will look from a buyer’s perspective, and assess if it will be easy or difficult to sell again later. Something to consider might be if a home is remarkably different in terms of size, style, price, etc. If so, you might want to skip it and look elsewhere.
You’ve Reached Home Base
Becoming a great home finder is made easy when you follow a formula for success. Consider the pointers given here when looking for your next home, and you’ll be sure to hit a home base for your financial and personal goals for the future.