It doesn’t matter if this is your first home or your fifth home, there is no perfect house. Every home has something that needs to be fixed or upgraded. Typically, when you’re buying your first home, this is an even bigger reality.
However, by paying attention to a few key factors, you can buy a home where you and your family can thrive.
Factor 1 – Location
Location is the one factor you cannot change. Unlike the wall color or floor plan, your location will stay the same until you move. Before you snap up the trendy house on the corner, it’s important to ask yourself:
- Do I find the neighborhood appealing? If it’s not a place you are going to enjoy being on a daily basis, living there won’t bring you much joy.
- Does the neighborhood have good resale potential? Your first home isn’t typically your forever home. If you plan to sell, buying in a neighborhood future buyers will find attractive is key.
- Is it in a good school district? This is particularly important if you have kids or are planning to have kids. It also plays a huge role in how easy it will be to resell.
Factor 2 – Size
You might be dreaming of a six bedroom, four-bath home with a three-car garage. But, it’s important to be practical. How much home can you really afford?
Factor 3 – Type
What type of home are you interested in buying? Do you want a townhome, condo or single-family house?
Single-family homes offer more space and more privacy, but you are responsible for all the maintenance issues. This includes all issues within your home and outside of your home. With a townhome or condo, you are responsible for all issues within your home. Your homeowner’s association is responsible for most of your external issues, such as landscaping.
Factor 4 – Project
Are you a DIY aficionado? Or do home remodel projects make you a bit squeamish? If you have the time and expertise to roll up your sleeves and put in the work, you can score a great deal by buying a fixer upper. Otherwise, a move-in-ready home is probably your best bet.
Ready to start house hunting? The first step is to get preapproved. Give me a call today.
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