Most of us think carefully about budget and location before buying a home, and we probably have a wish list filled with what we want. Despite having a good idea about what you want and can afford, people still often make some tough mistakes when shopping for a home. Listed below are a few common errors people make when buying a home.
Think about all of the costs associated with home buying, especially if this is your first time buying a home. Aside from closing costs and down payment, which eat up a chunk of your savings, think about the costs that occur monthly and yearly. This includes association dues and property taxes. While on paper, you might actually be able to afford the actual mortgage payment; can you also afford association dues, taxes and insurance? If your house costs $300,000, you'll pay about $3,000 or more in property taxes. Association dues can be quite affordable, but in some communities, they can be hundreds of dollars each month.
The old adage that "location, location, location" is a huge factor when purchasing a home is absolutely true. While you might love a house, you really have to think about the location because this cannot be changed. Does it back up to a noisy, busy road? Is it across the street from a school? Is it too close or too far away from shops and stores? In addition, drive by the house during different times of day to check out the noise level and the general nature of the neighborhood. If you long for quiet and there are 50 kids living on the street, that's a bad match no matter how much you love a house.
Don't set your sights on the wrong amenities. Maybe you want a completely updated kitchen with stainless steel appliances and granite countertops. What you really need to be looking at is the size and storage in the kitchen. Always look at the bones and layout of home and assess the home based on non-cosmetic issues. The decor might not suit you, but that can be changed easily. You cannot easily change the size and shape of the rooms. Big closets, adequate storage, a good laundry room and plenty of natural light are all great features.
While you might hope to make this move your last one, you still might have to sell it at some point. You need to look at the home's resale potential. For example, if it is close to great schools and on a quiet, picturesque street, this will appeal to many buyers. An open floor plan and plenty of natural light also appeals to buyers. Strange home layouts are hard to fix, as well, and as stated before, people rarely want to live on a noisy or busy street. Resale might not be at the top of your concerns list, but it should be something you at least consider briefly before purchasing a home.
The search for an ideal home begins by contacting a real estate expert, such as the agents at 1st InSite. No matter what city you like or budget you have, they can help you find a fantastic home. They are highly knowledgeable about the real estate market in the East Bay and can find Alamo real estate, Danville real estate, Moraga real estate, Walnut Creek real estate or any other East Bay town or city.
Think about all of the costs associated with home buying, especially if this is your first time buying a home. Aside from closing costs and down payment, which eat up a chunk of your savings, think about the costs that occur monthly and yearly. This includes association dues and property taxes. While on paper, you might actually be able to afford the actual mortgage payment; can you also afford association dues, taxes and insurance? If your house costs $300,000, you'll pay about $3,000 or more in property taxes. Association dues can be quite affordable, but in some communities, they can be hundreds of dollars each month.
The old adage that "location, location, location" is a huge factor when purchasing a home is absolutely true. While you might love a house, you really have to think about the location because this cannot be changed. Does it back up to a noisy, busy road? Is it across the street from a school? Is it too close or too far away from shops and stores? In addition, drive by the house during different times of day to check out the noise level and the general nature of the neighborhood. If you long for quiet and there are 50 kids living on the street, that's a bad match no matter how much you love a house.
Don't set your sights on the wrong amenities. Maybe you want a completely updated kitchen with stainless steel appliances and granite countertops. What you really need to be looking at is the size and storage in the kitchen. Always look at the bones and layout of home and assess the home based on non-cosmetic issues. The decor might not suit you, but that can be changed easily. You cannot easily change the size and shape of the rooms. Big closets, adequate storage, a good laundry room and plenty of natural light are all great features.
While you might hope to make this move your last one, you still might have to sell it at some point. You need to look at the home's resale potential. For example, if it is close to great schools and on a quiet, picturesque street, this will appeal to many buyers. An open floor plan and plenty of natural light also appeals to buyers. Strange home layouts are hard to fix, as well, and as stated before, people rarely want to live on a noisy or busy street. Resale might not be at the top of your concerns list, but it should be something you at least consider briefly before purchasing a home.
The search for an ideal home begins by contacting a real estate expert, such as the agents at 1st InSite. No matter what city you like or budget you have, they can help you find a fantastic home. They are highly knowledgeable about the real estate market in the East Bay and can find Alamo real estate, Danville real estate, Moraga real estate, Walnut Creek real estate or any other East Bay town or city.
About the Author:
Madeleine Glazier likes blogging about the real estate industry. If you are searching for Danville real estate agents, or to find Danville homes for sale, please go to the 1stInsite.com site today.
No comments:
Post a Comment