A home purchase is usually one of the biggest investments that most will make during their lifetime. With a home being such a large investment and where it is something that you could have for several years, you will want to make sure you pick the one that is right for you.
The Perfect Home – What makes a home “perfect?” This is something that varies for everyone. The best way to go about defining that is perfect for you is to make a list with your household and identify what is something you need versus things that you simply want. This will help you narrow down the key things that you will search for.
Location – Sometimes you find a home that looks like it is perfect for you, but is it in the right location? Consider what is important to you in a location. Do you need to be close to the highway for commuting or do you prefer to be located near beaches or parks? Identify these priorities and then spend some time in the neighborhood to get a feel for it. If you see neighbors outside, you may want to speak with them to get more information.
Price – The most essential thing that everyone needs to do before even beginning to look at homes is to connect with a professional mortgage agent. A mortgage agent will be able to tell you exactly what you will be approved for in the way of a loan. However, even though they may give you a dollar figure that a bank may loan you for a mortgage, you should also factor in what you are comfortable spending as well. Also, many condos will have HOA fees that are due either monthly or quarterly. This expense will need to be calculated into what you are comfortable spending on a monthly basis.
Planning for the Future – A home that is right for you is not just perfect for today, but should be something that will still work in the not too distant future. Does your family have plans on growing either with an additional child or pet? Will it be big enough or have the amenities to accommodate you down the road? Factor in the possibilities and evaluate if there are options for any of these changes.
Working with Professionals – Without the guidance of true professionals, buying a home can be more difficult. Be sure to work with a trusted and professional mortgage agent when securing your financing. This is a crucial step in the process so that you can get the necessary funds and close on the home in a timely manner. Also, working with a full time and experienced real estate agent such as myself is also very important. No two deals are the same and hurdles may arise during the process. Years of experience, negotiations and intricate knowledge of the area can all add value and help ensure a smooth transaction.