Buying a home can be exciting, but don’t get ahead of yourself and forget to look into details. Here are some that you should consider before buying.
Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.
As a fourth example, you should always think about your bedroom-to-bathroom ratio. Is this home one that you’ll be able to grow in? In other words, are children in your future? If so, and you don’t have enough bathroom space to fit your family’s needs, you’ll quickly outgrow your home. And of course, the best way to gain equity is to stay in your home for six to seven years, so moving early could affect your position there.
You should also think about features that can’t be changed without major remodeling. It may not seem as important when you walk through the house for the first few times to put an offer in, but it likely will down the line.
The final point would be to consider the resale value of your home. Is the home in an area that will be attractive to prospective buyers down the road, or will it possibly become an area with several rental houses on the same block? There, the resale value wouldn’t go up as fast.
I hope this helps. Remember, buying a home is a great investment, and I strongly encourage it. It sure beats renting! Take care, and I’ll be back next week.
Sometimes when we get anxious to buy a home, we overlook a few things that are kind of important.
For my first example, suppose you’ve visited a home during the day when you could see it in full light. But have you been by the home at all hours of the day and night? Noise levels change throughout the day. If at all possible, visit the home at different times of the day to be sure that you will enjoy living there.
Second, think about your daily commute. From an outsider’s perspective, it might not seem that far to go to work. Maybe it’s only 10 or 20 miles, but when you own the home and realize that it’s 10 or 20 miles every day, both ways, you may see things differently. This may not be a problem for some, but it is something to think about.
Third, check over your CC&Rs (covenants, conditions, and restrictions) carefully. Some people will bring their RVs to the new property, only to discover they were unable to park. Little things like that can become a real downside if you haven’t checked the CC&R thoroughly.
For my first example, suppose you’ve visited a home during the day when you could see it in full light. But have you been by the home at all hours of the day and night? Noise levels change throughout the day. If at all possible, visit the home at different times of the day to be sure that you will enjoy living there.
Second, think about your daily commute. From an outsider’s perspective, it might not seem that far to go to work. Maybe it’s only 10 or 20 miles, but when you own the home and realize that it’s 10 or 20 miles every day, both ways, you may see things differently. This may not be a problem for some, but it is something to think about.
Third, check over your CC&Rs (covenants, conditions, and restrictions) carefully. Some people will bring their RVs to the new property, only to discover they were unable to park. Little things like that can become a real downside if you haven’t checked the CC&R thoroughly.
If at all possible, visit the home at different times of day to be sure that you will enjoy living there.
As a fourth example, you should always think about your bedroom-to-bathroom ratio. Is this home one that you’ll be able to grow in? In other words, are children in your future? If so, and you don’t have enough bathroom space to fit your family’s needs, you’ll quickly outgrow your home. And of course, the best way to gain equity is to stay in your home for six to seven years, so moving early could affect your position there.
You should also think about features that can’t be changed without major remodeling. It may not seem as important when you walk through the house for the first few times to put an offer in, but it likely will down the line.
The final point would be to consider the resale value of your home. Is the home in an area that will be attractive to prospective buyers down the road, or will it possibly become an area with several rental houses on the same block? There, the resale value wouldn’t go up as fast.
I hope this helps. Remember, buying a home is a great investment, and I strongly encourage it. It sure beats renting! Take care, and I’ll be back next week.
No comments :
Post a Comment
Note: Only a member of this blog may post a comment.