Buying a new home can be both exciting and overwhelming. There are plenty of new spaces to fill, new memories to make and excellent communities to join. But there are also some scary things to consider, such as unexpected fees, loud local noises and future expenses.
There are ways to avoid these unnecessary stresses, however, and all you need to do is ask yourself 5 questions. The answers will reveal the pros and cons of moving in to your selected space.
- How long do I plan on living here? A home should be one where you could see yourself living in for at least five to seven years. Every move will cost you moving expenses, a large amount of time and energy, plus any costs associated with closing on the home. So be careful to factor all these parts in before settling on a location.
- Will I have room to expand / grow? If it is in your budget, look for a home that can support you and your family plus any unexpected (or expected) guests. If you currently cannot afford a slightly larger space, will there be room to expand when the finances become available? If you feel cramped too soon after the move, you’ll find yourself searching for a new home within a few years.
- Is this a location that works for me? We all hear that “location, location, location” is important. We often fail to realize just how important it actually is, however. Take a look at how far the nearest shopping centers, schools and restaurants are to ensure you won’t be driving too far out of your way. Consider how far you are from the highway or how long it would take to visit family. If you’re too far, you may be spending more on driving than you’d like.
- Is this house in my budget? The physical building is not the only expense you come across when buying a new home. There are also taxes, closing costs and new appliances / furniture that need to be purchased. If you know that the house needs some updates, will you be able to afford them when the time comes? Plan out your finances so that you have a good picture of how the future will look.
- Does the house feel more like a home? This may seem like the simplest of all questions, but take a moment to write down all the pros and cons of the house. If it has a large yard, yet you hate yard work, maybe you should consider a condo. Or if you dislike sharing a wall with neighbors, look for a single-family home. If you avoid the cons from the beginning, they will become very annoying after just a few days of living in your new home. Face them from the start to determine if you can handle them.
As always, contact your favorite RE/MAX Showcase real estate broker for more tips and assistance in buying a home. They’ll remind you of these 5 questions and help you pick the house meant for you.