Are you interested in purchasing property in the local area? There are plenty of options available, and the right house for one person is not necessarily the right house for somebody else. It is important for you to have a proven process that you can follow to find the right house to meet your needs. If you work with a real estate professional, you can put yourself in the best position possible to find that house. The housing market is still competitive, but there are opportunities for you to get a great deal on a home, said Michael Savage of New Canaan, CT. What are a few of the most important steps you need to follow if you are looking for a house for yourself and your family?
1. Location, Location, Location
There is a saying that the three most important factors in real estate are location, location, and location. You definitely need to think about location as your first step when you are looking for a home. For example, if you have children, you may want to get your children in a certain school district. You may want to talk to a real estate professional who can let you know how good the schools are in the local area.
Do not forget that the location of your home is also going to determine how far you have to drive to work in the morning. For example, if you have to work in New York City, you need to think about how you will get into the city. Are you going to take a train? Are you going to drive? A real estate professional can talk to you about what traffic is like in the local area.
Of course, your location will also determine how close you are to certain amenities. For example, do you want to be close to a shopping mall? Do you want to be as close as possible to some of the best restaurants in the local area? A real estate agent can help you figure out the right to your graphic boundaries for your housing search.
2. House, Townhome, or Condo
There are plenty of houses available, and you need to think about what type of house you are looking for. For example, you might be interested in a condo. If you don’t want the hassle of taking care of your landscape, and you are fine sharing walls with your neighbors, then a condo might be the best choice. On the other hand, if you want to provide your children with more space to play, and you need a bit more distance from your neighbors, you might be interested in a house. A house is also a great option if you simply need more square footage.
There are plenty of other choices as well. For example, a townhouse is a great middle ground between a single-family home and a condo. A townhome will generally provide you with more space, and you might even have access to a small plot of land in the back. Consider working with a real estate agent who can help you figure out which option is right for your needs.
3. A Must-Have List
Before you start your search, you should develop a must-have list. This refers to a list of items that a house has to have before you will make an offer. There are different items that you might include on this list. For example, you might be adamant that you want to park your car in a garage, so you need to make sure the house has a garage with enough room for all of your cars. Or, if you have a certain number of people in your family, you might want to have the exact same number of bedrooms. Make sure you have a list of items that the house has to have before you consider making an offer. This will make it easier for the real estate agent to find houses that meet your needs.
4. Get a Budget Ahead of Time
You always need to develop a budget ahead of time. It is easy to get sucked into the internet, imagining what your life might be like in different houses. On the other hand, there is no point in looking at houses that you cannot afford. You should talk to a lender ahead of time and get pre-approved. The lender will give you a budget with which to work, and you can use that number to start your housing search. Remember that you don’t necessarily have to get your final loan from a lender who gives you a pre-approval letter. But, this letter will make your offer more competitive. A potential seller will know that you have been approved for financing.
5. Age Matters
The age of the house definitely matters. Do you want to go with an old home that has a bit more character? Or, do you want to go with a brand new house that comes with the latest features? A new house is generally going to be more expensive, but an older house is more likely to have problems. Think about the age of the house before you decide to make an offer.
6. Consider Potential Issues With the Home
Speaking of potential issues with the house, you always need to get an inspection before you finalize your offer. When you walk through a house for the first time, your real estate agent will identify potential issues that you need to know about. Then, you also need to get an inspection done by a professional. There are potential issues that you might have to address. For example, the roof might have to be replaced in the near future, or the HVAC unit might be on its last legs. You need to be aware of these problems before you decide to make an offer on a house.
7. Investment Value
Finally, do not forget that your house is an investment. As long as you purchase your house in a good location, its value should go up over time. Talk to your real estate agent about what real estate prices have done in the local area. Ideally, you will purchase a house that goes up in value relatively quickly. That way, when you sell the house down the road, you can walk away with more money that you can put toward a vacation, your retirement, or your next house. This is one of the biggest reasons why a lot of people view real estate as an investment.
Find the Right House for Yourself and Your Family
Ultimately, there are plenty of houses available, even in the local area. It is easy to get lured in by pictures on the internet, but it is important for you to take a close look at each house with a real estate professional. That way, you can identify potential problems that have to be addressed while also imagining what your life might be like in the home. The sooner you reach out to a real estate agent, the easier it will be for you to find the right house for yourself and your family at the right price. Consider getting your next housing search started today.
