There’s nothing that quite compares to the feeling of first stepping foot into a new home. The time and effort put in to finding the home, getting through the paper work and procedures have finally paid off and that big breath relief hits you. Ahhh!
But before that golden moment there are a lot of things to consider; as a lot of work goes into that warm happy memory, it’s important to make sure we’ve made all the right decisions along the way. It’s easy to get swept up in the excitement of it all but here are a few rational questions you’ll want to ask yourself before you rush into a commitment to buy.
Unless you are buying new or having your home built this is one of the big items to really take your time with. Will this home need a new roof or other major repairs soon? Will we be in a flood plain? Is the landscape something too lush and extravagant for me to handle on my own? Fixer-upper homes have tons of potential but you have to be ready to own those rough edges until you can smooth them out the way you envision.
Even if your lender says the home of your dreams is within your reach you need to make sure you are actually comfortable with the monthly terms. The price of the house itself is not the only factor in the end cost either – don’t forget down payments, closing costs, and other fees (not to mention moving costs!) That new house “ahh moment” might not feel quite as fresh if you are living on ramen for the first year, so it’s always good to plan for more than is listed in the black and white details.
Is the home you’re considering big enough for you or your family? Right combination of bedrooms and baths? Could the living room be a little bigger, or do you need a separate office? You’ll want to make sure the home you select is going to have enough growing room for your needs – in most cases you can expand later but that is often costly.
Does your potential dream home have central air conditioning or heat? Maybe you have fantasies about a heated garage floor. Will having a two level house make it difficult for visiting guests? Are there adequate bathrooms to accommodate your traditional summer time patio bbq fiesta? Make sure you give these things some thought even though in most cases adjustments can be made, there should never be a reason to compromise.
You just got here…and you’re thinking of moving already?! Well, statistics show that people move into a new home nearly every seven years on average. Life can throw some wild curve balls at us without warning; if you were forced to sell your home how easy would that task be? Having a home with high resale potential can help this item not be of concern. Whether it be the newness of the home, it’s location, or special features, generally most homes will have some element that lends them a little extra resale potential. Thinking about the future through home improvements is also a great way to not only protect but to also grow your home investment.
Thinking about all of these things while you are in the home finding mode is a great place to start. Some buyers will fall in love with over the top amenities that often seem attractive in the showing stage but later turn into real headaches. There’s nothing wrong with shooting for the moon, your house should be as fabulous as you can imagine it, but it also never hurts too keep your feet on the ground while your head is in the clouds.