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How to Choose the Right Home

For first-time buyers and repeat buyers alike, the decision to make an offer on a home is both exciting and a little scary. If your offer is accepted, the place you’ve chosen will be your home for the next several years. Not only should you feel emotionally satisfied by your choice, but you should also feel financially comfortable that you’re buying a home that you can afford and that you feel confident will hold onto its value or hopefully increase in value over the years. 

While no one can know for sure what will happen to housing values, if you make the choice to buy a home that meets your needs and priorities you’ll be happy to live in it for years to come.

Neighborhood or Home Amenities

For some home buyers, living in a particular neighborhood takes precedence over all other priorities, but for others, the home itself matters more. Ideally, you’ll find the perfect home in the neighborhood you love at a price that’s below your budget, but realistically, most people have to make some compromises.

You (and your spouse, partner or family) should make a list of what features you want in a home, such as the number of bedrooms, a fenced yard, granite counters in the kitchen, and then rank them in terms of priorities. Think about whether the house or the community matter more to you, and whether it’s worth it to you to make a longer commute in order to live in a home with a larger lot.

When to Compromise

Once you’ve determined whether the location or the house itself matters most, you may have to compromise on some of your priorities. If the location is the most important factor for your home choice but you find that homes are priced above your budget, you can compromise in several ways:

  •          Look for a different home type within the community, such as a smaller single family home, a town home or condominium. Decide if you can live with one less bedroom or other features on your list.

  •          Consult with a lender or a financial planner to discuss your options for increasing your budget. While no one should overspend on a home, you should recognize that going $10,000 above your price range when you’re financing your purchase with a 30-year fixed-rate loan will actually add only about $30 to your monthly payment.

  •          Lower your expectations about the condition of the home. While everyone prefers a move-in ready home, you can often get a better deal on a home that needs some cosmetic repairs. Be careful, though, to have a home inspection and to evaluate the structure of the home to see that it meets your needs. Moving walls and adding a bathroom are costly renovations, while painting and replacing appliances are more reasonable.

If you have your heart set on a specific home style or a home with a larger yard for your children or to garden, your compromise is more likely to be in the location. If you’re willing to commute farther or perhaps choose a home in a community next to the ‘hot’ neighborhood, you can often find a more affordable home that fulfills your wish list.

With my experience I can help you determine when and how to compromise and will take the time to show you a variety of alternatives so you can make an informed decision about when to make an offer.

Ensure Home Buying Success 

Buying and selling real estate is a complex matter. At first it might seem that bychecking local picture books or online sites you could quickly find the right home at the right price.But a basic rule in real estate is that all properties are unique. No two properties – even two identical models on the same street – are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike.

 Finding the Right Home 

 Thousands of home buyers use us to search for the perfect home. We have ALL Real Estate Listings in your area. You'll get access to

maps, virtual tours, new listing notices, price changes and more. Our search results return all homes on the market regardless of who the listing agent is, you'll see them all!

 Many homes, whether they are single-family residences, townhomes or villas, are part of a homeowner association (HOA). Part of your search process should be to consider whether you want to live in an HOA or not.

On the positive side, HOA rules help protect home values and the dues often include community amenities and maintenance. On the other hand, the rules also limit what you can do with the exterior of your home. You’ll also need to include HOA dues as part of your housing budget.

Thousands of home buyers use us to search for the perfect home. We have ALL Real Estate Listings in your area. You'll get access to maps, virtual tours, new listing notices, price changes and more. Our search results return all homes on the market regardless of who the listing agent is, you'll see them all!

 If you like us to assist you in finding the right home for you call: 949-702-5626 or complete the form below. 

 

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