There is a lot that goes into finding the perfect home. No two houses are exactly alike and each offers something others may not. A new home purchase is usually the biggest expense you will ever have. The house you live in impacts almost everything you do. Where you work, how you raise your family and your monthly budget are all impacted by the home you buy. While this can be a confusing and stressful time it doesn’t have to be. Finding the perfect home may be a daunting task but it is made easier by following the right steps.
Have a goal in mind. The type of property you buy is directly related to your goals of ownership. Knowing that you are only going to live in a property three to five years is different than one you want to own for 30. The very first step is figuring out what you want out of a house. Do you want a turnkey home that doesn’t need any work? Do you want a home you can fix up over time? Does it have to be close to your business or where you work? Everything else falls into line after you decide your long & short term goals for home ownership.
Price. Your purchase revolves around the price. It directly impacts your monthly payment and influences what and where you will buy. Once you know your goals you need to see if they fit your budget. Have an idea of what you are comfortable paying every month. It is important to include taxes, insurance and if you are putting less than 20% down private mortgage insurance. The number you end up with should be your bottom line number. Once you go over it, even a little, there may be no turning back. Buying the perfect house and not have money to enjoy it will leave you regretting your purchase.
Location. There is a lot that is involved with deciding on a neighborhood. Safety, location, taxes, schools, amenities and expansion all play a part in your decision. You need to decide what is most important to you. If you have a family the quality of school’s may influence your decision. If the taxes have been going up you may want to avoid a seemingly good town that poised to decline. Do you want to live on a busy street or do you prefer a rural area? A perfect house in an undesirable town is not what you are looking for. Where the property is located is as important as the physical property itself. There are many options with the location and it is important to think about where you see yourself now and ten years down the road.
Things like fireplaces, central air and a deck in the yard can all be added to a property in time. Focus on your goals, price and location and work from there. It is possible to find the perfect home if you know exactly what you are looking for.