House hunting is similar to any other shopping experience. You must identify what you want, do some research, and you will eventually locate the best home for you. Searching for a new home can be daunting, but it does not have to be if you follow these few tips for searching like a true professional!
Understand what you can afford
Once you have fallen in love with a particular place, it will be hard to return. Your mind may wander back to the property you first liked the most, even though it is out of budget. To avoid temptation, you should restrict your home search to properties within your financial means. If you continue to look at homes outside of your budget, you will be lusting over something you cannot actually afford. Start your search at the lower end of your price range, and then you can always go up from there. If you find a dream house on the low end of your budget, you will have more room to invest the additional money or spend it on decorating. Starting your search with an idea of what you can afford is a great way to get going!
Ensure you have your pre-mortgage approval done
Another way to ensure you are on the right financial path is to get a pre-mortgage approval. If you are confident that the bank is going to lend you a certain amount of money for your mortgage loan then you can perform the very best shopping. Depending on your credit score or financial health, what you think you can afford versus what the bank thinks you can be different. Make sure you are pre-approved for a loan before placing an official offer on a home and begin the official search. Having this box checked off the list will mean you are well-prepared to find the home of your dreams.
Continue to shop around
Create a vision
Just like you create a vision for a room in your house, you should also have an overall vision for the entire house. Are you open to a fixer-upper as long as it has spaciousness? Are you hard set on having a renovated kitchen? Having a vision in mind for your future home will help you through the entire search. Do not let physical imperfections turn you away, for you should simply identify ways you could improve said aspects. Again, if it is a deal breaker or something you are unwilling to compromise on, then do not settle. However, if there are minor upgrades or cosmetic fixes and you love the home, buy it!
Choose the right neighborhood
- Are the values of the homes increasing or decreasing?
- What development plans are in the works for the neighborhood?
- Is the community friendly, and are the members active?
- Is it close to schools or workplaces?
- Is the neighborhood private or secluded?
Plan to grow into your new home
Work with a local real estate agent
*Header photo courtesy of Pexels