Next Stop, Your Dream Home! Things to Think About Before You Buy

If you’re thinking about buying a home, you’re embarking on an exciting journey! Before getting started, there are several important factors to consider that will help ensure you make the best choice for you and your family.

Budgeting Wisely

Your budget is the foundation of your home-buying experience. Begin by determining how much you can afford based on your income, savings, expenses and your lender pre-approval. Consider these components:

Down Payment: Typically, you'll need 3-20% of the home’s purchase price. A larger down payment can lower your monthly mortgage payments.
Mortgage Types: Familiarize yourself with different mortgage options, such as fixed-rate and adjustable-rate mortgages, to find what suits you best.
Ongoing Costs: Don’t forget to factor in property taxes, homeowners insurance, maintenance, and potential homeowners association (HOA) fees. A good rule of thumb is to allocate 1-2% of your home’s value annually for maintenance.

Future Plans

Think about your future plans and how they align with your home purchase:

Longevity: Are you planning to stay in the home for several years, or is it a temporary move? If you anticipate job changes or family expansion, this could influence your choice.
Resale Value: Research the market trends in the area to understand how homes appreciate over time. Consider factors that might increase value, such as upcoming developments or improvements in local infrastructure.

Must-Have Features

Creating a list of must-have features will help streamline your search. Consider details like:

Essential Amenities: Think about the number of bedrooms and bathrooms, layout preferences, and outdoor space. Do you need a home office or a garage?
Neighborhood Features: Identify important amenities nearby, such as schools, parks, shopping centers, and public transport. Consider the community atmosphere and lifestyle offerings.

Exploring Neighborhoods

Take the time to explore different neighborhoods to find one that fits your lifestyle. Some considerations may include:

Community Vibe: Visit potential areas at different times of the day to get a feel for the community. Are the streets busy with families, or is it quieter?
Safety and Schools: Research crime rates and school ratings, especially if you have children or plan to in the future. Websites like GreatSchools can provide valuable insights.
Future Developments: Look into any planned developments that could enhance or detract from the neighborhood. This could impact your home’s value and your quality of life.

Fun Fact

Did you know that the average home stays on the market for about 30 days? This timeframe can vary significantly based on market conditions—some homes sell in just days, while others linger. If you’re curious about how your neighborhood stacks up or want insights on current trends, just ask! In the meantime, download my free guide to learn more about the home buying process.

By the way, if you or anyone you know is looking to buy or sell a home, I’d appreciate your referral and promise to take great care of them.

Happy house hunting!

Brigitte Keene

Real Estate Agent & Investor

Scottsdale, AZ

Direct: (602) 806-8928

Email: info@brigittekeenerealestate.com

Website: www.brigittekeenerealestate.com