Chasing the American Dream always includes home ownership, and finding that perfect place to settle down can be harder than expected.
Typically you start with what seems like a reasonable list of things you want your future place to have. A majority of first-time homebuyers tend to focus on cosmetic features, like hardwood floors, updated appliances or granite counter tops.
While these are all worthy wish list items, it is very important to remain focused on the more permanent aspects of a home.
1. Narrow down your wish list
Try to limit it to a few non-negotiable home features to really help speed up the search process for your dream home.
When you are looking at a potential home a good thing to do is to have this list with you and focus on the priority things listed on it. There will be some features and issues you should not overlook, like property damage.
Also don’t be afraid to use your imagination when trying to find the ideal home that fits all your criteria. That’s the best part of finding your new home and making it your own.
2. Set a budget, and stick with it
First thing you should do is get pre-approved for a loan so you can have an established price range in mind.
Budgeting can sometimes be the most difficult part of the home purchasing process because this is where you are going to have to make compromises on your wish list in order to stay within the price range.
It easy to feel overwhelmed and get carried away with all of the details a house you’re viewing doesn’t have, but keep referring back to your list and budget.
3. Do your homework
Chances are if you are reading this article you are beginning to already start your legwork needed to be done to purchase a home.
While ultimately searching the marketplace for a home is a numbers game, there are some other things to keep in mind:
-To get the best bang for your buck, searching for price comps in your desired area is a must.
-Visit the neighborhood at different times during the day to get a feel for how family friendly it will be.
-Visiting the neighborhood is also a great way to find out how traffic is, and you can get a good estimate on what your daily commute to work would be like.
The last thing you want do is fall in love with a house in an inconvenient or unsuitable neighborhood.
The keys to your dream house are dangling right in front of you. Even though many times our emotions will drive the decision we make on purchasing a home, it is important to keep in mind to make a prioritized wish list of features you’d want you home to have, make a budget and do research into the neighborhood the home is listed in. These tips listed can help prevent you from ending up with buyers remorse.