Looking for a new home can be and often is an exciting experience. However, it’s easy to get caught up in the the numerous features to choose from, what to include in an offer, and everything in between. Making sure you have the right knowledge before you purchase your home is critical to your long-term happiness and enjoyment of what will be one of the biggest purchase decisions you’ll make.
Following are 3 steps that will help you make the most of your budget when buying a new home:
1. Broaden your knowledge.
Knowledge is power, especially when you are exploring a new opportunity in buying a new home. Going through the process of purchasing a new home is overwhelming and any mistakes can result in you losing the opportunity on a home you want or buying a home you learn to hate.
Consider seeking personal help in order to get the most out of both your budget and the entire home buying process.
2. Decide on what’s a must have item or feature.
Having a list of features that must be included within the home as well as items that you wish to be present in the contract (repairs, closing information, etc.) helps the search for your home tremendously. While a property might look appealing and might have a sale price within or close to your budget, if it fails to have all or most of your must-have items, the long-term impact on your satisfaction will suffer.
Consider the following items when prioritizing what you seek within a home:
- Size – square feet and lot size
- Rooms – number of bedrooms and bathrooms, and the size of the rooms
- Location – neighborhood features
- Features – appliances, flooring, pool, layout, etc.
- Age – new or pre-owned
- Condition – is the home move-in ready or does it need additional repairs?
- Price – what are you able to afford?
If you are in the market to purchase a new home, today’s market environment is very promising and offers many opportunities. I would be glad to help you.