If you’re in the market to buy a new home, I’ve got some advice for you today. Here are the top things you should take into consideration before making the plunge:
1. Location, location, location. You’ve probably heard this phrase before. When you’re looking at a new home, it’s important to know where you’re at and what school district you’re in. Even if you don’t have kids, the future resale value of your home is going to be affected by the district it’s in. Also, how close is the home to local shopping, dining, and entertainment options? These are all things to consider.
2. Financial commitment. Real estate is a long-term investment. If you want to move in a few years, you might want to consider renting instead. Having your money tied up in a home is not a great short-term investment.
3. Running the well dry. Most buyers spend every penny that they have to get into their new home, especially first-time buyers. Even though we’ll make sure you have a home warranty for your first year, it’s important to have a home savings fund for any repairs or maintenance that happens outside of that.
4. Loving your space. The reason that you want to love your space is that it’s not just the indoor area that you’re going to enjoy. You’re going to want to set up an entertainment area or spend a nice night in the backyard. However, if you’re busy, you might want something a little lower maintenance like a townhouse or a condo.
5. Untapped potential. The truth is that there are a lot of different neighborhoods, but finding one that’s undergoing a renaissance is ideal. You might be able to find a home at a great price in a neighborhood that’s a little rough at the moment, but you’ll have the opportunity to be part of something great going forward as the neighborhood grows, improves, and changes.
These are just five of the things that you need to consider as a buyer. If you need help in your home search or just have any questions at all about the process, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.