5 Tips To Find Your Dream Home
In the current real estate market across a majority of the country, low housing inventory is the center of conversations with many home buyers. Home buyers are left feeling frustrated after having their offers rejected when there are multiple offers presented on their "dream home."
In a Realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that home buyers can take to help carry their excitement of buying a home throughout the whole process.
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you are serious about buying your dream home is to get pre-approved for a mortgage before starting your search. Understanding your housing budget will give you the confidence of knowing whether or not your dream home is within your reach.
This step will also help you narrow your search based on your budget and won’t leave you disappointed if the home you tour & love, ends up being outside your budget!
2. Know the Difference Between Your ‘Needs’ and ‘Wants’
Do you really need that breakfast nook in the kitchen to be happy with your home choice? Would a two-car garage be a necessity or a future project later? Is there a dire need for a ‘hot tub’ or could this feature be added later?
Before you start your search, list all the features of a home you would like and then qualify them as a ‘Needs OR Wants’ item. This will help keep you focused on what’s most important.
3. Research and Choose a Community You Want to Live In
The first rule of thumb in real estate, is centered around "Location, Location, Location!"
Every neighborhood has its own charm and before you commit to a home based solely on the house itself, the article suggests to tour individual neighborhoods. Make sure that the area meets your needs for “amenities, commute, school district, etc. and then spend a weekend exploring before you commit.”
4. What Style Home Fits You
Evaluate your family’s needs and settle on a style of home that would best serve those needs. Just because you’ve narrowed your search to a zip code, doesn’t mean that you need to tour every listing in that zip code.
An example from the article says, “if you have several younger kids and don’t want your bedroom on a different level, steer clear of Cape Cod–style homes, which typically feature two or more bedrooms on the upper level and the master on the main.”
5. Document Your Home Visits
Once you start touring homes, homes will start to blur together. Document what you love and don’t love about each property you visit.
Also, rating each home from 1 (No Way) to 10 (Dream Home) helps in deciding "this is the one!"
In a high-paced, competitive environment, any advantage you can give yourself will help you on your path to buying your dream home.
Contact Team Caropreso today to schedule a FREE consultation to discuss your needs and wants in a new home!