A good heart deserves a good home. - Mark Anthony, poet

6 Things to Consider When Buying a House

1. LOCATION - Where do you want to be? Think about your commute to work, maybe something on the water or close to it? How about in a more rural area? Do you need to consider school zones or have a desire to be in a particular neighborhood. Only you can decide what the right answer is for you. 

2. CONDITION - Are you able to make some improvements or updates on your own or do you prefer it to be move in ready? Remember, a little imagination can go a long way if your budget can’t. 

3. PRICE - What’s the working budget? Just because you are qualified to spend a certain amount does not mean you have to shop homes in that price range. We like to say we live in the payment not in the purchase price. What price range are you comfortable spending each month? This is a conversation you need to have with your loan officer as we simply need a budget to work with when looking at homes at a price point you feel comfortable with.

4. MUST HAVE - What are the "must have" items you are looking for? Make a list of what you MUST have (and deal breakers) and what you would LIKE to have. Consider that sometimes your like to have items may be able to be added to the property later. 

5. RATE OF RETURN - How long do you plan on living in your new home? This is your rate of return on the investment of your property, that is, if you look at it like a business and financial transaction. Typically, it takes about 3 to 4 years for the value of your property to appreciate to a place where selling would make a return on the investment so that you are making a profit after all expenses are deducted. This not a set rate but is typical for this area, some may be faster or slower depending on the market and economy. 

6. SPEED - March to September are the busiest months of the year for properties to change hands- the height of the selling season being end of Spring to early Summer, houses in some areas may last only hours on the market before an offer is accepted so being available to see homes quickly could put you in a better position to make an offer before it’s gone. Homes listed in the Fall and Winter typically stay on the market longer, have less competition and bring in a more stable price with less competition, therefore, they are often the best value and there is less pressure to move quickly. 

Contact me to help get you started on the right path to finding your new home.