Part of the American dream is purchasing our dream homes. Unfortunately, there’s too much to choose from with so many houses in the market right now, all with varying sizes. However, the main question is, are you ready to purchase a home right now? Or should you wait much later into the future?
75% of Americans believe that purchasing a home is one of their priorities. Many think that it’s their main priority right now. Considering how prices of homes have increased throughout the years, no one can blame them.
House hunting isn’t what it used to be many years ago. This is because there are so many options we have right now, despite homes being more expensive. But first, let’s answer whether you’re ready to purchase a home right now.
Ready or Not?
If you want to know whether if you’re ready or not, you should check your budget. Then, based on your budget, start setting realistic expectations. After doing that, start shopping for mortgages and see which one is for you. Once you’ve done all these things, you already have options for which homes you can buy, depending on the pre-approved mortgages given to you.
Determining when you are ready is all about finances. So now you have pre-approved mortgages, let’s go into the essentials of house hunting.
Essentials When House Hunting
Location
The very first thing you should consider when house hunting is the location. Is your chosen home close to work or your children’s future school? How long do you have to commute? How’s the neighborhood? Is it safe?
These are questions you should consider when purchasing your first home because there is a considerable chance that it will be your primary residence for the rest of your life. Facts from the federal reserve state that about 70% of Americans own their primary residence, and you’re likely to fall into that category. So you wouldn’t want your first and primary residence to be in a bad neighborhood and far away from work, right?
Forget about the looks. Consider first where the home is located and whether if it fits your budget or not.
Look into Flaws
The next thing you should consider is to look for flaws. It’s normal to get excited especially if you’ve found a dream home that falls under your budget. But small flaws such as the home having cheap ceramic tiles and fogged-up windows can all result in problems in the future.
Some people redecorate and renovate their homes to cover hidden flaws, and the cheap ceramic tiles you might have seen are used to cover something much more important such as damages to the foundation. Keep this in mind, and don’t be afraid to ask the previous homeowners regarding the home’s flaws. Remember that every home has one.
Get Your Chosen Home Inspected
Before you start making deals, you should get your chosen home inspected. There might be some flaws you might not have seen. The neighborhood might not be as good as you thought it would be. These can all be seen by an experienced home inspector, and it’s the primary reason you should do it.
House Hunting Options
Online
Let’s first talk about online options since it’s the accessible right now.
The internet is one of the essential technologies that the real estate industry has adopted throughout the years. Many websites offer various homes for sale. Some online brands like Donnybrae even offer house-building options for clients. So if you don’t think you’re not getting enough options in the physical world, then consider going online.
It’s also the best tactic for you if you’re planning to move to another state. Searching for homes for sale online is a safe bet because you can set up multiple visits beforehand. In addition, most people selling their homes have their contact information right under their offers. So give those a call if you’re interested.
Real Estate Agents
If you don’t want to go house hunting alone, or if you’re struggling to do it yourself, consider calling a real estate agency. They can start giving you options for homes. They can also choose the best homes near your area you can visit.
The best part about having a real estate agent to help you out is that you can know more about the surrounding areas of a home. Most people make the mistake of purchasing a home before knowing what’s around it first. It can be the main reason why people are selling the home in the first place.
House hunting is challenging, but once you have a couple of pre-approved mortgages under your belt, you’re likely to find the home that’s right for you. But remember, most Americans don’t find their dream homes in the first few weeks of the search. So be patient and take your time. You’re less likely to make a mistake that way.
