Buying a new home is exciting. There are so many houses to look at, and so many factors to consider while you’re weighing your decision. At Loeffler Realty, we recommend that you consider whether it’s the perfect house for today, as well as for tomorrow.
How do you know it’s the right home today?
It’s comfortable.
Although housing can be a great investment, the primary purpose of your primary residence is to be your home. This may be the place where your children grow up, or where your grandchildren will remember visiting you. The house you choose should feel like a place where you can be happy living for a while, or it’s not the right one for you.
You probably already know whether you would prefer a single-family home or a townhome. If you have a strong feeling one way or the other, your mind probably isn’t going to change after you’ve moved into something you didn’t think you’d like.
You’ve kept an open mind.
Even if you have firm opinions about the kind of home you’d like to own, it’s worth considering all of your options. Perhaps you think you’d like an older home. Have you considered the lower maintenance costs of new construction? Maybe you’ve decided on a single-family home. Have you thought about things like lawn care and snow removal? Make sure to weigh all the factors involved before you commit to one kind of house. You may be surprised to find that what you thought you wanted isn’t really what’s best for you right now.
It’s in a good location.
Don’t underestimate the importance of the location of your new home—it’s the one thing you’ll never be able to change. How easy is it to access? What will your commute to and from work be like? Is it near school or the grocery store? These things will matter to you more than you might think.
You’ve bought carefully.
Buying a house is expensive. Beyond the mortgage, you’ll have moving costs, closing costs, utility fees, and perhaps other expenses that you didn’t anticipate. Experts advise that you should plan to live in your house for at least five to seven years so that you don’t keep incurring the costs of buying. That’s a big commitment, so make sure that the house you choose is the one you really want, and not one you’re settling for.
You may be tempted to buy more than you can comfortably afford, and in fact your bank may qualify you for a mortgage that seems too high for your budget. But you don’t have to take all of the money the bank is willing to give you. Do the math to figure out what mortgage amount makes the most sense for you and your family, and then stick to it.
How do you know it will be the right home tomorrow?
It can meet your changing family needs.
Is there any chance that your family might expand in the next few years? Do you have an adult child who might return home in the future? Or maybe you have small children. The house you’re considering may have enough room for little kids, but does it have enough space for teenagers (and their friends)?
It has resale potential.
While you should plan to live in your new home for at least the next five years, odds are that it won’t be the last home you own. Before you buy, consider how wide its appeal will be to future buyers. A quirky home with lots of charm might be just right for you, but it may be harder to find the right buyer for later.
Ready to find the right home for today and tomorrow? Contact Loeffler Realty so we can help you start looking.