Buying a home is a big decision. People usually think about it for a long time before they finally make the decision to buy one. This is a long-term commitment because it requires a lot of financial planning to make it work.
If you think you are at the stage where you are ready, then you have to do some homework. There are important things that you have to consider before any purchase decision. Read over this article for some guidelines that will help you through the decision process.
First, you should figure out how much you are able to afford. It is a good idea to to visit your local bank and start that process. The lender can figure out how much you can afford based on your income and debt.
They will also look at your work history to determine if you are stable in your job. Once you are pre-approved, you will have an idea of how much you are able to afford. Keep in mind, however, that you do not have buy a home at the maximum loan level. This is just to let you know your cap. If can find a home that does not require you to take out as big of a home loan, then, by all means, you should consider it.
Next, you should think about where you would like to live. Is there a particular setting or type of neighborhood that you are attracted to? You may have already seen some areas where you think would be nice to settle down.
“Check the average home prices of the size of home you want to see if they fall within your affordability range. If you have children, or will have children, proximity to good schools is definitely important. Convenience to shopping may be another criterion to look at. There are urban environments and rural environments, depending on your preference. Picture yourself living in one of these neighborhoods”, told us a real estate market expert from Ecokit maisons en bois.
Spend a weekend to explore each neighborhood. Find out as much as you can about it. After you have gathered your information, talk things over with your family to get their input. If a neighborhood fits your criteria, you are ready to look for a house.
Find a reliable realtor who is familiar with the neighborhood that you are interested in. He will have the inside scoop on the home selling and buying activities. He may also have more information and statistics about the neighborhood that you did not gather.
Be very attentive to details as you tour various houses on the market. Keep in mind that you may not find the “perfect” home, but one that is close to it. Focus on houses that have permanent features that you like, even if it has decorative areas that you do not like.
For instance, if the house has a beautiful deck but ugly carpeting, you can easily change the flooring. Take notes on the cosmetic things that are a problem, but do not let those hinder you from a purchase if the house has structural features that you like. You can always use those cosmetic fixes as leverage as you negotiate a price.
These are just a few things to consider. There are other things as well. Just keep learning, an you will be able to buy your dream house.
Categories: Real Estate
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