How to Buy the Right Home for You
When thinking about buying a new house, many of us start by envisioning what it will look like and what amenities it will have—both very important things. But in order to really enjoy the process of buying a new house and turning it into your home, you need to look beyond the surface. Here are the five things you need to know before you decide to buy.
KNOW YOUR PRICE
First and foremost, be honest with yourself and choose a price point you can afford with no financial stress. You never want to buy a house and live your life just to pay for the house; that will diminish the joy a new home should bring into your life. Once you decide what price you are comfortable with, then you can start refining your search.
LOCATION, LOCATION, LOCATION!
The next step is to figure out exactly where you want to live. Narrow it down to a specific area that’s right for you—perhaps near your workplace or your child’s school. Wherever it may be, know it well, and base your search on that location. Knowing your price and desired location will become the foundation of your search, the rest of the details will fall into line once you know these key things.
COMPARE TO AVOID OVERPAYING
Buy low—sell high, right? Most of us know that’s how it’s supposed to go, but many of my clients have overpaid in the past, without even knowing it and end up selling their house at a loss. The best way to avoid this is to see all the exact comparables in the neighbourhood that have sold within the last six to eight months. Find out the average price per square feet those homes have sold for and base your offer on that average. Doing this will get you as close as possible to buying at market value. Even better, offer less then those comparable properties and try to get yourself the best possible deal! Depending on the market, prices are typically negotiable. If it’s not, it may not be the right house for you! Another one will appear and you can get the price that works best for YOU!
KNOW YOUR MUST-HAVES
Before previewing numerous homes, figure out what you really want and need from both the interior and exterior of the home. These are your must-haves and will help narrow down your search and bring you closer to your dream home. For example, do you need a bungalow? Do you want a large yard with a pool? A large kitchen?Four bedrooms and a three-car garage? Make sure houses you look at have these amenities, so you don’t spend money tearing down or renovating. Some must-haves can come later—like hardwood flooring. But major features like your desired yard-size or number of bedrooms should be in place in any home you buy.
TRUST YOUR INSTINCTS
They say when you walk into the right house, you “just know,” right? If you’ve done your research about price, location and you know your must-have list, then you can trust that feeling you get. It’s also important to know that if a house isn’t right (even if it does meet your requirements “on paper”), it’s OK to say no based on that same feeling. The right home for you will eventually appear! It always does. With patience and faith, you will find the house that is perfect for you! Know this and you will buy with zero regrets!