You may have many reasons for why you’re looking to buy a home. Maybe you’re tired of throwing your money away by renting. You may also need more room because you’re expecting another member of the family. You also could just want granite countertops, quartz tile floors, and other amenities you’ve always dreamed of.
While the specific reason for looking for a home isn’t too important, how to actually find the home you’re looking for is a whole different ordeal.
In this blog update, we won’t really go into credit cards, credit scores, interest rates, and getting pre-approved. We’ll just be talking about the act of house shopping, adding some tips on visiting homes for open houses, and what determines price ranges of homes.
Tips On Shopping For Homes: Use Multiple Sources
There are plenty of avenues by which to look for homes you want to purchase. The most common of these avenues is online. While there are a plethora of websites for you to choose, we recommend you compare several different websites when house shopping.
One website may have key information that your other website may have missed. And this can influence your decision on whether or not you want to even go to the open house!
When looking for a home, research what kind of neighborhood that home resides in. Does this neighborhood have known sex offenders that could possibly endanger your children? Is theft and other crimes a bit higher in this location?
It’s your responsibility to make sure you do your due diligence before buying a home so that you make the best decision as far as safety is concerned. You’d be surprised how many people skip this step!
Go To Open Houses – A Lot Of Them!
We highly recommend checking out a lot of open houses for homes in neighborhoods you’ve like to move into, even if that home does not 100% “fit the bill” for what you’re looking for. Home renovations can be made in the short term or long term depending on what your needs are.
We also recommend making a list of homes that fulfill your needs fully. This can give you an idea if the home itself has a price that is reasonable, compared to the homes you’ve visited where you’ve had to be flexible on your wants. This can help you locate homes that would be a good value for your dollar when comparing.
Additionally, you may find a home that has certain features that you may not have thought about, giving you more ideas and flexibility on possible home features! Also remember, if you do decide to buy a home and renovate it later, that only adds value to your home!
How Much Does Location Matter To You?
The answer to this question will vastly differ between home buyers. Are you looking for a home that’s closer to amenities like grocery stores and malls? Are you looking for a home that’s closer to work? Do you mind a small drive into town to pick up your daily or weekly needs?
Location is one of the larger influences of housing prices. Homes that are in the center of a metropolitan area or that are close to areas of high attraction usually have the highest prices. Homes on the beach for example can go for hundreds of thousands more than the same home would if it were a few miles inland.
Keep in mind that this will be a huge indicator of how much you’ll be spending. There are homes and condos that are 1000 square feet selling for millions of dollars in prime locations.
Size of the Home Matters: Bedrooms, Bathrooms, and Square Footage
One of the biggest factors that determine a home’s price is the size of the home. As this seems pretty self explanatory, there are several reasons why the size of the home is a huge factor. The most obvious one is that more rooms equals more materials needed to build those rooms.
This is true up to a point. Two homes with the same amount of square footage in the same location may vary greatly in price if one has more bedrooms and bathrooms than the other. The home with more bedrooms will have around a 10 percent difference in value PER bedroom alone. This goes up when that bedroom is accompanied by an additional bathroom.
We hope this blog gave you some tips for shopping for a home!