Buying a home is one of the most memorable and exciting times in the majority of people’s lives. Usually, it is something that we wait our entire lives to do - the freedom of having your own place to call home, living out the American dream and like a majority of today’s buyers like to say, to give your dog a backyard to run around in that they deserve. While buying a new home can be one of the most exciting times of one's life, it is probably going to be one of the biggest financial decisions and commitments you will ever have to make as well. Here are a few things you should consider before buying that can help guide you during the home searching and buying process.
The cost. This goes without saying, the price of a home and evaluating how much you can afford should be the biggest factor when it comes to looking at potential homes. It is important to not get wrapped up in looking at homes that may be out of your price range or that will over time, hurt your wallet and credit in the future. Like we said, buying a home is a huge financial commitment - you need to consider not only the price of the home but also work that may need to be done, how much monthly mortgage payments are going to cost, furnishing the home, paying utilities, HOA fees if applicable and so on. Lenders say that you should consider that about 28-33% of your gross income is what you can afford on your housing costs of the mortgage, taxes, and insurance.
What is your current life status? And what do you see for your future status? While we know predicting the future is near impossible, it is still important to give it a thought. What do you want in your future and what will that mean for the house you are going to buy today? Are you planning on getting married? Already married? Starting a family? Have pets? Switching jobs? Retiring soon? Life events and choices are a great way to evaluate what kind of home you are looking for and deciding if it will be a forever thing or not. From there you can determine the price range, size, and location that you may need.
Location. Your home should be a happy place and your safe place. It is where the heart is, after all! You will be spending a lot of time in the area and location of your home - is it a spot you see yourself living in and exactly what you want to be in? Everything from your commute to work, the school districts, country vs. city life, amount of neighbors wanted and the community itself will most likely be a big factor when it comes to looking and choosing a home. Focusing on a certain area where you want to live can help narrow down your choices and help make your decisions.
Choose a trusting realtor - because if you do it alone, you won’t have anyone else on your side. Going through a realtor when buying a home will save you more headaches and potentially more money in the long run. Also, not to mention, we are experienced in everything real estate, especially in our community. We know what to look for when it comes to reasonable and comparable costs within the market and will always have your best interest in mind. With us by your side, we will give you the confidence in knowing you will not be taken advantage of by sellers and reaffirm that what you are buying is a smart and profitable decision.
Last but definitely not least, if it doesn’t bring you joy or put a smile on your face, it may not be the right choice for you. Buying a home is supposed to be exciting. If there is anything that worries you more than it excites you, you know that it is either not the right place or time for you. We love making our clients smile and want to see it from the very beginning stages until the moments the key lands in your hands!