So you think you are ready to buy a home...
There are many questions you need to ask yourself before you decide to seriously start your search.
There are lots of factors to consider & I'm going to outline what I consider to be important below.
What Can I Afford?
Take a deep look into your personal finances. Look at your monthly & annual income. Make sure you have a monthly budget & examine it. What are you able to allocate to home expenses? Do you have any money for a down payment saved? Do I have an emergency fund in place? Before you even visit a lender or mortgage broker, you should have a grasp on what you are comfortable with spending each month. Just because you can get approved for $X amount that results in $X monthly payment, that doesn't mean it's necessarily the right amount for you and your lifestyle. Bottom line - nobody wants to be 'house broke'.What Kind of Home Works for Me?
Do you want a single family home? Maybe a condo or patio home? There are benefits & setbacks for each depending on the buyer. If you don't have the time or desire to take care of the exterior maintenance that goes with owning a single family home, maybe a condo [where you pay a monthly maintenance fee] is for you. New home or old home? Fixer upper or move in ready? New construction or existing home? These are all questions to ask yourself before you seriously start looking.What Area Do I Want to be In?
This is very important. Do you want an urban or rural setting? City or suburb? Land or subdivision? Do you want to be near your work, schools, or family? How long are you willing to commute? Real estate prices are higher in some areas & more affordable in others. Your Realtor can help you look into how home prices & taxes vary from place to place.What Are My Needs in a Home?
Do you need a ranch style or are you Ok with a 2-story? Contemporary or traditional? How many bedrooms & bathrooms? Is a basement or a garage necessary? What about overall square footage? Depending on your age, the size of your family, and your personal preferences all of this can vary. It's important to know your options & weigh your wants vs. needs. Your Realtor can help you identify what is available in your market & how the different options will affect the home prices.Bottom line - with todays technology, information is literally at your fingertips. Don't be uninformed on one of the biggest financial decisions you will make. Here are some informative links for ya!
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Hope these tips help! Feel free to leave any additional tips you think are helpful in the comments :)
And just for fun, here are some home related Pinterest finds & links for you to devour :)
[I love Ikea items as they are, so I can only imagine!]
Ok click the links & become addicted. Ready. Set. Go.
Enjoy your evening!!
xo
Sam
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