Consider These 10 Factors Before Buying a Home
#1. The People Involved
As soon as you announce your home search journey, people are bound to come out of the woodwork. Neighbors, distant cousins, parents, friends, that one woman in your spin class that got her real estate license two months ago… Everyone is going to want to give you their advice and opinions on how you should approach the process. The most important decision is to pick a realtor that truly knows the area you’re looking in. Every town has their own market tactics and you’re better off working with someone who’s familiar with the area you’d like to call home, instead of someone just trying to make a quick dollar off of your transaction.
#2. The Desired Size of Your New Home
It’s tempting to “go big & go home” when you start looking at homes: the huge yard, the two bonus rooms, three bathrooms, the inground pool… But let’s be honest with ourselves: The more space, bells, and whistles that a home has, the more likely you are to run into expensive issues/repairs, maintenance, and higher utility bills. Really consider how much you’re willing to be responsible for in your next home when you’re beginning your search. Perhaps after some thought, a condo/townhouse situation is more suitable for your needs.
#3. Your Loan Options & Information
If you’re looking to use any sort of financing for your home purchase, you’ll want to have a conversation with a local loan officer before you begin going to open houses or showings. In today’s market, you stand the best chance against other offers with an approval letter in hand. You can reach out to us on our mortgage information page to get connected with one of our trusted, local loan officers.
#4. The Value of a Home Inspection
Home inspectors are trained to go through a property and find possible threats to the integrity of the home. After their inspection, they create a digital report that is exclusively sent to you. It is usually a good idea to go through with a home inspection, especially in New England communities, where most neighborhoods have been settled for generations. Foundation problems, rot, pest issues, roof damage, mold, improper insulation, out-of-date wiring are only some of the issues that could be uncovered by your inspector. Once you have the report, your realtor will navigate the solution with the seller for you before you make a final decision on the home. In fast-paced real estate markets, it’s a great idea to look into getting pre-inspections, which are done before an offer is made.
