When it comes to shopping for your next home, there are a few very important things you should be looking for. Understanding your own personal needs in a home can make the process easier because it helps you to identify the features that will be of the most value to you.
2B or Not 2B
Some people enjoy the life of a city dweller, living in homes where the next door neighbor is literally on the other side of the wall. Others prefer a bit more privacy. Before you spend your money on a home, stop to think about the closest neighboring homes or businesses. The perfect home can quickly turn into a nightmare if you can't sleep because the frat house next door throws all night parties every weekend.
Location, Location, Location
Be it for school, work, entertainment or grocery shopping, traveling can be time consuming and expensive. Before purchasing that beautiful home in the hills, miles from civilization, stop to think about your daily commute. Are you comfortable with spending an extra hour each day driving to and from work? If not, it might be better to have a realtor like The Pye Team look for a location that better suits your needs.
Family Planning
You're young. You've got your whole life ahead of you. You want the dream of 2.5 kids and a dog. Unfortunately, the beautiful home you are currently looking at is a 1 bedroom condo with a fireplace in a restricted community that doesn't allow pets. While it might be the perfect choice for the empty-nester looking to downsize, it isn't really going to grow with your growing family.
Speaking of Family...
In searching for a home, find one that can meet your families growing needs. While one bathroom might be plenty for a newlywed couple, it can be a horrible scenario for a family with three teenage kids. Do you anticipate frequent guests? Find a home with an extra bedroom. Does your mother in law regularly darken your doorstep? Look for a place with a man-cave where you can sneak away for the afternoon.
Amenities
Amenities can be a wonderful thing. Having access to a golf course, pool, laundromat or other amenities can really increase the value of a home for some people. Unfortunately, that increased value often translates to a huge shift in the price as well. Paying thousands of dollars more when you don't even play golf isn't a sound financial decision. Think about the amenities available and if they actually add value for you personally.
Buying The Home You Can Afford
Unfortunately, we often make rash choices in life based on instant gratification. We want things right now. It's in our nature. Sadly, when those rash decisions become part of the home buying process, it can spell disaster. Consumer Affairs reporter, James Limbach, published an article in February of 2017 showing that, while the overall completed home foreclosure rate was dropping, there is still a long way to go. Using statistics from CoreLogic, he showed that 8.6 million homeowners had lost their homes due to foreclosure since 2004. Find the home you want but make sure it is a home you can afford.
Resale
When we buy a home, most of us want to believe it will be a permanent thing. That being said, a lot of things happen in life that can make moving on necessary. A new baby, loss of a job, illness or other factors can make a once perfect home less than adequate for your family needs. Planning ahead during the purchase phase helps you when it comes time to sell your home. What small things can you do to add value? A few hundred dollars and a couple of weekends invested in a adding some landscaping or remodeling an antiquated bathroom can translate into a better resale price. If you don't mind investing a little money and work in your home, purchasing a home with a few project areas in mind can save you money now and earn you rich rewards later.
Buying a home is a big decision but choosing the perfect home for you and your family doesn't have to be difficult. By applying a little foresight in the home shopping process, you can save yourself a lot of money, time and frustration later on.
