What to Consider in Your Home Search | Monday Minute

Buying a home is part of the American dream.  And you have made the decision it's time to purchase a home.  When buying a home, there are a ton of different factors that go into determining the right one for you.  So I wanted to break down the 4 main factors to consider before starting your search.

1. Finding the Right Home

You don’t have to know everything you want, but it's good to know what you must have in your new home.  Creating a good want and need list is a great exercise to getting this first point correct.

• Townhouse, or Single family, or condo?

• How many bedrooms and bathrooms

• Do you want a yard? Or no yard?

• How long do you plan to live there?

• Will you be starting a family?

• Do you need a private office

1. Location and Neighborhood

Narrowing your search down to where you want to be is going to be extremely helpful in not getting pulled into loving a house, that doesn’t fit your lifestyle and and daily needs.

• What do you want to experience when you walk outside?

• Is it an active neighborhood, city, in the woods?

• Are schools important to you?

• Do you want to want to be close to work?

• Are there specific Amenities that you are looking for?

• Are you looking to be able to walk outside and see no one for miles?

1. Timing

When do you need to be in this new home?  And what other factors are at play during this process?

• Do you have to be in a home in the next 3 or 6 months, or as soon as possible?

• Do you have a year or longer before you have to move?

• Do you need to move for a job?

• Do you have a lease that you are timing around?

• Do you have to coordinate with a sale of a current home?

1. How much are you going to spend?

Being prepared knowing how much you want to spend on the home and how much you want to keep in your bank.  The last thing anyone wants to do is be “house-poor” where you feel that your mortgage limits you from doing other fun things you want to do.

• Are you going to be getting a mortgage?

• How much can you make towards a down payment?

• How much are you comfortable spending monthly?

 The best part is that after creating this list, when working with a great real estate agent, like our team, we will be able to help you figure out each one of these factors so that you are better prepared to start the process.  And with our contacts to some of the best local mortgage lenders, we will be able to set you up with the right lender to figure out the best financial situation for your situation. If you have any questions about the home buying process, give us a call.  We look forward to helping you!