There's a lot that goes into a real estate purchase and the better you know what will suit you now and in the future, the greater your chances of finding the right home instead of the wrong one. Usually people who have chosen the wrong house find themselves thinking about putting the house back on the market to sell before very long, or worse. They could end up doing a lot of repairs and cosmetic changes that must be done to turn the property into what they wanted in the first place.
Consider your loan. There are quite a few factors that are involved in purchasing a house at the most financially feasible time. Always consider price and interest rate as a couple. You may be bombarded from the news and word of mouth that that you will get a great deal at certain points when real estate houses and interest rates both drop. You might hear so much about it that you may think you've probably heard it all. However, keep in mind that looking up what your payments will be on a mortgage calculator is a great tool to add all your costs up.
Know exactly what you want. If you search for homes without thinking carefully about what you want in a property, you may very well end up with something that doesn't quite meet your needs. For instance, some people want a pool in the back yard, but may not consider how much work it really is. The same is true for large yards and homes with a lot of square feet. Are you willing to purchase an older home and fix it up, even if you've never been the type to do handy work around the house in the past? Consider the pros and cons in every way possible. There many agent websites, such as this one located in
Don't settle for less. Once you know what you want, find out if it's available in the area you desire. Don't set your expectations at a unattainable level, but when you have made the most important choices, stick to your decisions the best you can. You may want a specific area so your kids can go to the school that has the highest test scores in the area. Realize that you may have to wait a little longer to find the perfect home when you narrow your choices, but it will be worth the extra time it took you to get just the right house in escrow.
Have the property inspected. One of the most serious errors you can make when purchasing a home is not having a home inspection done before the close of escrow. It's important that the plumbing and electric are in good working order and that the property has a stable foundation beneath it. Use an inspector that comes highly recommended from a friend or a real estate agent. The inspector should have a long standing reputation for catching every problem that exists in a property and giving you a report explaining every detail.
How long you plan to own the house. Consider where you might be in another 5 years. You might want to expand your family, or your elderly parents may move in with you. You may also not be planning on staying at your current job forever and your house may not be in a prime location where you can find another job. Everyone plans their future differently, but whatever those plans are, mold your house search according to them.
Make up a list. The best way to sort out what type of home you are really going to need is to write it all down on a piece of paper. List everything you are looking for in a house on the sheet and then write pros and cons about each thing, so you can sort out what you really do and don't want. It seems like something you might just be able to come up with in your head, but you will probably discover that writing it all down helps a lot. Then keep your list handy when you explain which specifics you desire the most to your real estate agent.
