The housing market is constantly developing, and many people are looking for houses that will meet their needs. Preferences are always different: Some want to live in nature, surrounded by beautiful green trees and blue lakes, while others want to reside in a city full of skyscrapers and loud noises.What’s the same is that everyone wants to get a place of their own.
On average, home buyers usually spend ten weeks searching for a home, which proves that the process is not as easy as it may seem. When people, especially potential homebuyers, don’t know how to pick the right house or face too many difficulties in the process, this often leads to an impasse, which can make the idea of settling for an uncomfortable residence more tempting. In such situations, seeking guidance from a knowledgeable investment buyers agent could provide valuable insights and solutions. To avoid this, here are some guidelines to help you find a picture-perfect house.
1. Set a Budget
How much are you willing to spend? When buying a house, a budget will always come in handy: It helps you avoid unnecessary spending. For starters, your housing expenses and your total debt should not exceed 28% and 36% of your gross monthly income, respectively.
Buying a house is expensive, so it’s better to save in advance and create a realistic budget and factor in miscellaneous expenses such as conveyancers and other settling necessities. If you know that it’s difficult for you to raise a certain amount, consider mortgage payments. To easier break down the payments, use a mortgage calculator.
2. Understand What You Can Afford
Make a list of the things you want in a house. This list will typically include extra features that should be ready to forego if they are not available. Even if your dream house is a luxurious and extravagant one, it’s better to choose something realistic. It doesn’t mean, however, that you should settle for an uncomfortable property. Look around and price. If you understand that a certain property is too expensive for you, it’s better to go for something else.
3. Define Essential Features
As mentioned above, there are house features you may desire but may not necessarily need. Ask yourself what house features you cannot compromise on or forego. In other words, what features must the house have? For example, you may need a movie theater or a dedicated play area if you have little kids. Therefore, it immediately becomes a deal-breaker if you do not find a house with what you want.
4. Turn to a Real Estate Agent
Sometimes it is better to take the path of least resistance by letting a professional handle all the house-hunting hassles for you. Here are some advantages of working with a real estate agent:
- Expertise in managing legal matters and paperwork
- Expertise in the housing market, prices, and bargaining power
- Saving yourself time and energy
What’s interesting is that, according to statistics, 18% of home buyers contact real estate agents, while 47% look at homes for sale online. The latter, however, is too dangerous, as real estate scammers are waiting for the opportunity to fool unsuspecting property hunters. They create fake websites with false information, catch the victim, and make everything super fast. The next thing you know is that you no longer have any money. To avoid this, being careful is a must. Use official and verified platforms and never pay any money in advance.
It’s even worse if someone starts calling you pretending to be a real estate agent. Don’t trust just anyone. Ask the person to introduce herself/himself, check the number on Nuwber and see for yourself if the same name pops up. Scammers always come up with fake names to hide their true identity.
5. Look For Defects
Even though the seller must disclose all defects before selling the house, that doesn’t always happen. Ensure proper inspection is done in some of the most common areas like plumbing, roof, electricity, and walls. You don’t want to move into a new house and start repairing its defects immediately. This may be a financial burden that can drag you throughout your house ownership.
6. Choose a Good Location
A house’s location greatly dictates its value. For example, a house near important social amenities like parks, restaurants, schools, and highways will likely attract many people, thus making it more valuable. Also, it is important to consider a friendly neighborhood to avoid chaos and general inconveniences.
7. Consider the Age of the Property
The age of the property is a huge debate that you should personally settle before you put pen to paper. Old and new houses all have their advantages and disadvantages. The advantages of old houses are typically space, availability, and artistic architecture. On the other hand, old houses come with setbacks such as high maintenance costs and low technology.
New houses are built to last longer with advancements in technology and building guidelines, have modern facilities, and low maintenance. However, they may be smaller and more expensive compared to older houses.
8. Pick the Right Timing
Timing is an essential part of finding a house. The right timing will:
- Save you money
Market prices fluctuate, so you can find good houses at low prices if you’re in the market at the right time. Most houses are on sale during spring. If you know this, you have an advantage over most buyers.
- Get you great offers
It is advisable to move quickly and close a deal when the seller is desperate to sell; typically, you get incredible prices.
9. Include Your Family in the Decision-Making Process
Considering each family member’s preferences is important. Even if it’s your money on the line, one of your goals for buying the house should be to please your loved ones. For example, your child may need a basketball court at home if they have a passion for the game. You should, therefore, put this on the list of things to look out for in the ideal house.
10. Choose the Type of House You Want
Houses come in all shapes and sizes. For example, it could be a condo, bungalow, or mansion; the list is endless. Before stepping out to find a perfect place, decide what type of house you want before engaging a real estate agent. This will help you narrow down to your most preferred option.
Purchasing a house is a demanding, tiresome, and expensive process. If you’re not careful, you may end up with a house that may not be the best fit for you. For example, you may incur costs trying to repair undisclosed defects or even lose all your money to shameless scammers.
Avoid punching above your weight, i.e., stay on budget, settle on a house in a neighborhood you can afford, and avoid accumulating debt.
As a caution, do not be afraid to turn down options. Only close the deal when you have found a comfortable house that suits your needs.