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Summary: When you are selecting a home, you should consider these 5 important factors.
I’ve found that the older my friends and I have gotten, the more and more we enjoy watching shows like House Hunters and Love It or List It. Although we may consider ourselves knowledgeable about real estate or home buying, just watching a TV show or knowing a friend who bought a house isn’t going to be as helpful as we might think. Here are 5 important factors for you to think over before you start looking at homes or making any offers.
- Price.
This might seem obvious, but so many people end up looking at houses that are over budget and ending up disappointed. Make sure you know what you’d like to spend and what your absolute limit is for a new home, and then work within that price range.
- Location.
It may seem simple to choose where you want to live, but be sure to factor in more than the obvious. Be sure to consider school systems, your commute and any potential changes in your commute, where family and friends are, and places you’ll go often, such as the grocery store or favorite restaurants.
- The Yard.
Most people in their 20s and early 30s are living in apartments these days and don’t have to even think about yard work. Be sure to decide whether or not you would want a yard (or even be able to take care of a yard), the size of the yard you want, or whether you’d rather live in a condo or somewhere that hires landscapers through the Homeowners Association.
- Size.
Another seemingly obvious choice, but remember not to just plan for the people who would be living in the home immediately. Do you and your spouse plan on having more than one child? Is this a home you’d want to live in for now, or a home that you want to live in for 30 years? Additionally, is having a big kitchen or a big master bathroom more important to you?
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- Timing.
It’s important to remember that buying a home can take a long time, whether that’s finding a home, or simply going through the process once an offer has been accepted. Decide if you have a strict timeline, such as having sold your current home or a lease that is ending, or whether you might need a loan to help if you’re buying a new home and have yet to sell your current home.
