Monday, February 18, 2013

What are the most important things to look for when shopping for a new home?

Knowing what is important allows us to have balance in our lives.   Placing the greatest priority on those things will ultimately allow us to rest at night without regrets or worry over having made a poor decision.

The same can be said about purchasing a house or condo.

After having made the decision to purchase a home, a buyer must decide what qualities they desire in a house or condo.

It goes without saying that location is the first consideration.  You can change many things about a house but location is not one of them! 

Prospective buyers need to consider the “must haves,” “can't have,” and “nice to have” characteristics of their new purchase.

  • Must haves:  Some things a house must have - can't live without these.  Know these up front.  Location, space inside and outside, safety, age and type of construction, school district and the like may be included here.
  • Can't haves:  Just like you must have certain things, there are things you just do not want. Know what these are from the start as well.  This is a list that needs to be shared with your Realtor® early on to avoid wasting everyone's time.
  • Nice to have:  Sometimes an extra just happens to show up in a house you find which meets your must have criterion.  Identify these extras so your Realtor® can include them in the search because, as a buyer you never know what is on the market.  But your Realtor® is the market expert and may just know where to find these as well!

In deciding all these qualities the prospective buyer must keep in mind their budget.  Buying a house involves a long term commitment of money and having a realistic budget will set you up for success as a homeowner.  

Having a defined budget and understanding your needs before you go looking will make the process a lot more enjoyable - I assure you!