Buying a dream house is one of the major financial decisions many people will take in their lives. Statistics show that as of 2019, first-time home buyers made up 33% of homebuyers in the U.S. What type of home do you want to buy, and are you wondering how to get started? There are several things to consider when buying a home, and here are a few essential tips and factors:
1. Location of the House
Most home buyers want to find a locality that allows them to easily access convenient places such as work, school, the grocery store, parks, friends, and family. Some people also prefer to be in the city while others like to be in quiet locations, away from too much noise. The home you’re considering should be close to some essential places to enable you to get to them in the shortest possible time. Areas with easy access to the main roads and fewer traffic jams are also a plus.
2. Your Budget
Buying a house doesn’t only end at making the purchase, but also other extra expenses such as repairs, maintenance, etc. Therefore, budgeting is a crucial stage in your home buying journey as it guides your search and helps you make a decision that is well within your finances. Before setting out to look at some potential homes, prepare your budget and settle on all mortgage arrangements. Most lenders recommend that you come up with the money for mortgage payments close to about a third of your total income. Others suggest closer to 28% for housing-related costs plus the mortgage, insurance, and taxes.
3. The Size of the House
Size is essential when on the lookout for a house. You can narrow down your search by asking questions such as is a small home a good choice? Or is a large home really necessary? A small home could be an ideal choice, especially if you’re moving in alone, or maybe your kids have fled the nest, while on the other hand, you may need to find a larger space if your family is growing. It’s important to strike a balance between a home that’s too small to contain your belongings and one that’s so huge that you’d have to pay excessive amounts without using up the whole home. Consider getting one that would be just right for you; a spacious playground for the kids, beautiful lawns and a parking space can all be factored into your preferred size when buying a house.
4. A Trusted Realtor’s Services
Realtors’ fees can sometimes be on the high side, but they also play a key role in helping you make a good final decision concerning your home. A realtor can help you with a list of homes that have the features you’re looking for, with your budget in mind. Therefore, you can explore the option of getting one on board in your quest to settle on an ideal house to make your search easier. Try using a trusted realtor like Kellycaldwell.ca to deliver you the best results possible.
5. The House’s Condition and Maintenance Costs
What’s the cost of renovating the house you’re considering? Before making your choice, you need to be sure the home you’re settling on is in good condition and has all the facilities you require. A house that’s already in bad condition will take a toll on your pocket through high maintenance costs. To avoid this, do a thorough examination of each home you check out before you finally choose one.
Getting the right house can be a bit daunting but worth it if you get one that meets your dreams and budget. Hopefully, these tips will make your journey to locating your dream house a more fulfilling and less stressful one.