Shopping for a new home can be overwhelming and stressful. It is, after all, one of the most expensive purchases that you will ever make. It is a property that you will raise your family in and that will become an important part of your everyday life. It is also an investment. Should you decide to move one day, you will have to sell it and use the profits to move. Most home buyers do not keep these important factors in mind. They may choose a home simply based on its size or number of bedrooms and bathrooms. Although these criteria are important, there are also other important factors to consider.
Location
You will find new homes for sale all over your state. If you are unable to find something in your ideal location, it is likely that something will eventually come around. Do not rush your home buying decision and give up your ideal location. Location is usually what sells a house. It will also affect where your children will grow up and the schools that they will attend. Ideal neighborhoods also hold their value better, making them easier to sell for a profit when the time comes.
There was only a median of 14 miles between the homes that recent buyers purchased and the homes that they moved from. Most people feel comfortable moving closer to home, where they are already familiar with the local schools, shopping districts, and business locations. However, it can be a better decision to move even further if that means a better location and a better resale value.
Price
Price should be one of the most important deciding factors when it comes to homes for sale. Just because a house is listed at a specific price does not mean that it is worth that price. It is important to do your research and to work with a professional real estate agent. The agent is familiar with current buying and selling trends and can help you better value a properties worth. For 42% of recent buyers, the first step they took in the home buying process was to look online at properties for sale, while 14% of buyers first contact a real estate agent.
Contacting a real estate agent first can actually be more beneficial to the process. If you spend your time looking at houses that you cannot afford, that are no longer available, or that are not worth their asking price, you are wasting your buying time. Most customers who choose to work with an agent first find their home buying experience more pleasant and less stressful.
Amount of maintenance
A very small percentage of people ever consider the level of maintenance that a potential house requires. Purchasing a larger house on many acres of land will require hours and hours of upkeep. Older houses may also need more repairs than new homes. Consider your maintenance abilities when choosing a house. If you are handy or have the ability to hire outside help, a project home may be an option. However, if you require low maintenance living, consider a condo or single level house with a small outdoor space.
The amount of maintenance you want to complete will also affect the age of home that you purchase. Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 34%. Buyers who purchased previously owned homes were most often considering a better price at 32%. Consider your maintenance and handyman abilities when choosing between previously owned or new homes.
Many people search for new homes based on size, number of bedroom, and number of bathrooms. Other, more important of characteristics should include price of home, if the home is in a desirable location, resale value, and maintenance and upkeep requirements. Although the home buying process does not have to be stressful, it should include careful considerations and planning as it is an important financial investment in your life.
