How do you pick the right home? Since this is a popular question among buyers, today I’ll reveal some best practices to follow in your home search.
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Before even stepping into the market, you’ll want to think about the must-have criteria you want to see in the home you purchase. Consider writing your criteria down so that you’ll have something to refer back to and you’ll be able to treat it like a checklist as you go about your search.
Start with baseline considerations like the number of bedrooms and bathrooms you want. Then, consider everything from the type of flooring you’d prefer (hardwood or carpet) to the home’s age to the home’s size in terms of square footage.
What neighborhoods will you do your house-hunting in? Do you want your new home to be located near certain amenities like shopping centers or restaurants? If you have school-age children, you’ll want to be in the same neck of the woods as their school district.
Especially in our area, you’ll want to know what flood zone the home is situated in because making a move into one of these zones could mean paying hundreds more in your monthly mortgage.
Consider writing your criteria down, so that you’ll have something to refer back to and you’ll be able to treat it like a checklist as you go about your search.
After you’ve crossed off these criteria, make sure that you identify which neighborhood you feel most comfortable in because no two are the same. Amenities, in particular, vary from one neighborhood to the next.
Last, but certainly not least, it’s very important to make sure that your monthly payment corresponds with your budget. Your mortgage company may find that you’re qualified to spend $1,500 or more, but you may only want to spend $1,200 month to month. If $1,200 is right for your specific circumstances, don’t compromise.
As a bonus tip, make sure the home you purchase has the same number of bedrooms and bathrooms for the sake of its future resale value. A 4-bedroom, 2-bathroom home will go for less on the market than a 4-bedroom, 3- or 4-bathroom home.
If you have any questions about today’s topic, you’d like to suggest a topic for me to cover in a future video, or you have any general real estate-related questions, please let me know. I’d be happy to hear from you!