House hunting can be a daunting task without proper research and preparation. However, if you do the extra work on the front end, you can enjoy the process of finding your dream home. There are six main areas to focus your attention on during the planning phase.
1. Budget
This is one of the most crucial factors you should contemplate when house hunting. When searching for a new home, keep in mind that you generally should not spend more than 30% of your monthly income on your mortgage; and this includes things such as property taxes and heating costs.
You’ll want to look for a house that you can smoothly transition to without too much extra strain on your budget. When buying a home, remember that any updates or maintenance issues that are not dealt with prior to moving in will be your responsibility. These expenses should be included in your budget and may affect which houses you’re feasibly able to afford. You will also want to set aside some extra money just in case of an emergency or financial crisis.
2. House Size and Amenities
One of the main reasons people choose to move into a new house is its size. If you are starting a family, you may need extra space, or perhaps you need to downsize after your kids move out. Either way, you need to take this into consideration when searching for houses.
You should also keep in mind any amenities that are a “must” for you. Remember that luxurious amenities often come with a high price tag, so be reasonable and plan within your limits. Take extensive notes and pictures at each house you tour so that you can compare them later. Some houses may not have everything you want, but may come closer than others.
3. Location and Timing
Location is another key factor to consider when beginning your house hunt. Some people will love a house within proximity to a city or shopping center, while others prefer a quiet environment with a lot of land. Be sure to check out the surrounding areas of each house to get a feel for the neighborhood. Remember that you won’t just be living in your new home; you’ll be spending time driving around running errands as well. If being close to a bank or grocery store is important to you, you’ll want to find out where those facilities are in location to each house.
You should also consider which time of the year you are moving. Summer might be best for those with children, but it is also usually the busiest and most expensive time of the year for relocation. Some houses may also be ready for an immediate move-in, while others will take some time. Plan accordingly and try to move during a season that works best for you and your budget.
4. Prior Research
The internet is full of information, and you can use this to your advantage when house hunting. You can find pictures and detailed listings online, and narrow down your choices before even heading out for tours. You will also be able to see which amenities and features are included in each house, helping you to rule out those that don’t meet your requirements. Often, you can even find maps that include locations around the property to get a better feel for the neighborhood before you visit.
5. Storage Space
Whether you are upgrading or downsizing, you will need adequate space to store your things. Take notes and measurements when you tour a house, and make sure that the storage areas will be big enough for your needs. Check for the basement, attic, garage, and any closets to determine if there will be enough space. Keep in mind that large attics may provide a lot of space, but will be difficult to store larger, heavier items.
6. Consult a Real Estate Expert
Real estate agents are crucial during house hunting; the agents will give you relevant tips and legal guidelines for what you should consider when looking for a house. They will also give you recommendations on the best houses that are available at a particular moment, as well as helping you during the process of actually buying the home when you find the right one.
Final Thought
There are a lot of things to consider when buying a house, but doing research and planning on the front end will save you time and stress later. Be sure to keep these tips in mind to make finding your dream home a little easier.
6 Tips to Consider When House Hunting by Morgan Smith | Public Relations Specialist
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