Love at First Sight: Finding the Home of Your Dreams
Remember the first person you ever fell in love with? It was puppy love. Maybe it was someone you ended up marrying. Regardless, you’ll never forget them. But, when it comes to real estate, home crushes can crush you, and your bank account. Don’t let that happen. Think with your wallet, feel with your brain, and don’t forget about these crucial buying factors.
Location, Location, Location
How far or close to you job is your new home? You probably don’t want a 2-hour commute. Will the traffic kill you on the way home. Think about that. Most people will say that they don’t mind driving a little ways to work, but think about sitting in your car for an additional 20 minutes at 5PM when it’s dinner time. Think about an additional 1 hour wait time. Your dinner is getting cold.
How is the school district in that area? If you have kids, this is a huge deciding factor. You want the best for your children, but not all school districts are equal. Even if you don’t have kids, the district will affect your home’s value.
What about crime? Check a crime map. You don’t want to move into a neighborhood that’s crawling with perps stealing, raping, and shooting people. It doesn’t matter how good-looking the house is. Your safety is what’s most important.
Finally, check out the local shopping scene. If you like shopping at Whole Paycheck – err, Whole Foods – is there one near you? What about clothing retailers? Are you more of a Banana Republic person or a Walmart person? Knowing where both are could impact your decision on the home.
Features, Features, Features
Sometimes, features sell a house. Does it have a nice water feature in the back yard? Does it have a back yard? You want to know these things before jumping into a negotiation offer with the seller. Other things to look for are accommodations for any pets you own. Does the city or town have designated walking paths for pooch? What about doggie cleanup bags?
You love the wide-open floor plan, but what about closet space? Does the house have enough to house your enormous shoe collection? Will the home need to be remodeled? If so, treat this as a part of the cost of buying the home, even though you can’t get any concessions from the seller for it.
Finally, think about whether you plan to start or grow your family here. Maybe you’ll need larger, more spacious, bedrooms. Maybe you’ll need to have additional space in the back yard for the kids to play. Maybe you’ll need a large basement where you can lock them up, and the neighbor’s kids, for the afternoon.
These are the types of things you also want to discuss with your real estate agent. Agents, especially agents from services like Agent Harvest, tend to be pretty good at discovering hidden details that aren’t always apparent from the ad in the paper or on the Internet.
It’s All About The Money?
How much house can you really afford? Buyers often overestimate their needs and underestimate their bank account. Again, a real estate agent can be helpful here, but so can a mortgage broker and a financial adviser. If you could spend $1,000 on a mortgage, it doesn’t mean you should. Maybe that sum of money would put you in a pinch some months of the year. The only way you’ll know is to do a stress test with a lender and a financial adviser to see what you can really afford.
About the Author
Phillip Waterman’s keen eye for the housing market put him ahead of his colleagues. When not researching market trends, he enjoys blogging about the tips and tricks for a successful experience of buying and selling.
