How to Choose The Perfect Home

A Simple Guide to Choosing the Perfect Home

Despite the expansion of the rental market across the United States, homeownership continues to be strongly tied to the socioeconomic ethos of the American Dream. For many first-time home buyers, getting to the closing table and having the escrow agent hand the keys to the property is a dream come true, but not all of them end up moving into their dream homes.


The perfect home for you may not always be your dream home. The difference is that a perfect home is realistic while a dream home is more along the lines of building a new property on spec, which means that you get to choose the lot and work with the builder. A perfect home adjusts to your budget, financial goals, and general preferences; in other words, a perfect home is more about its feasible potential and its advantages.


Key Factors to Consider While House Hunting


Location shapes the real estate market even before the forces of supply and demand are felt. If you can be flexible with this factor, your property acquisition process should go smoother. Many home shoppers who look in the metropolitan regions where they grew up are surprised to learn from their Realtors about micro-housing markets and how they differ in terms of home values, property tax assessments, community redevelopment fees, and other crucial aspects.


The market research reports you want to review should include information about neighborhood demographics, safety, home values, school districts, utility providers, commercial areas, and projected equity. After evaluating this information, you should discuss home affordability with your Realtor or a mortgage loan officer; this is the first step to determining how much you can reasonably borrow and repay while still covering all other household expenses. Before touring property listings, you will want to establish a minimum size, which can be the number of bedrooms and bathrooms instead of square footage.


Prioritize Your Must-Haves and Nice-to-Haves


Once you have settled on location, price, and size, the next consideration should be to create a list of home features that are non-negotiable versus features that are more like extras and upgrades. Be sure to inject reality into the list; for example, a finished basement should not be a must-have because you can remodel it. A bathroom with wheelchair accessibility is certainly a must-have, but you can also inquire with a contractor if a conversion is possible and affordable.


Don’t Skip the Home Inspection


Some mortgage brokers and lenders make this a closing condition, but you want to get a home inspection even if the bank does not order it. You want a professional assessment of the property’s foundation, electrical wiring, plumbing, roof, and other elements. If the inspector finds issues, your Realtor can turn them into price bargaining tools allowing you to negotiate repairs with the seller, calculate a budget for future fixes, or walk away from the deal.


Let Realtors Help You Find the Perfect Home


The best way to avoid home buyer’s remorse is to retain the services of a real estate professional. When you sit down to discuss your idea of a perfect home with a Realtor, they will come up with a list of properties that meet your criteria realistically. Realtors also connect you with crucial resources like mortgage lenders, home inspectors, and closing agents, thus streamlining the entire process.

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