5 Tips to Make Sure You Buy A Home You'll Love
Most tips for buying a home start with figuring out how much you can afford and applying for a home loan (which are great tips and we obviously recommend you do both of those things when shopping for a new home).
But what else is there? Are there lesser known tips for buying a home that can make a big impact? Yes!
Understand the Neighborhood Nuances
To get a real feel for what it's like to live in the neighborhood, you have to visit it during various times of the day and night. For example, all may seem quiet on a Saturday afternoon, but what you don't know is that your future street has heavy traffic during the weekday rush hour. Just like dating someone before you commit, date your neighborhood before you say yes.
Bigger isn't Always Better
It's the American dream to own a big home. Indeed, we often measure our success by how big or expensive our home is, and it's only natural to want the nicest house on the block. But make sure you are buying a home that doesn't leave you strapped for cash or time. The bigger home can often mean more house to clean and more lawn to mow. Make sure you find the right balance of space and lifestyle comfort.
Know Your Maintenance Costs
There have been situations where the previous owners of the property neglected basic maintenance, things that might not be easily visible to the average homebuyer. The surprise element is of course the hardest. As contradictory as it sounds, all homeowners need to plan for the unexpected. Or better yet, proactively dig for potential problems before they become surprises. In addition to your home inspection, consider asking the previous homeowner for a checklist that would show the last time all these items were maintained or repaired. This doesn't make buying the home a deal breaker, it just allows you to be better prepared, both financially and mentally.
Don't Try to Time the Market
You may hear terms like "buyer's market" and "seller's market" (we use these terms as well) but the reality is that ANYTIME is a good time to buy. Home prices and rates go in cycles, though they can't necessarily be predicted. So, if you are waiting for the market to be just right before you buy a home, you'll be waiting a while.
Don't Buy Solely on Emotion
Some people make the mistake of falling in love with a home so fast that it fogs their ability to see potential problems. For example, buying a home because it has a custom-built treehouse for the kids but overlooking that it will add 45 minutes to your work commute is a problem. Buy on logic and instinct, and don't rely too much on emotion.
Please share these tips with a friend and contact Loansteady for the first step of buying your home.