You’re on the precipice of achieving the American Dream: Owning a Home. It’s an exciting occasion that deserves serious consideration to ensure the house or condo you buy becomes the home you love. Here are six tips to help you get the most out of your Chicago home buying experience:
1). Take Inventory
Ask yourself what your priorities are for this home purchase. Is the concrete jungle the only way of life for you? Or would a green grass yard and private drive be better suited? Must the master bedroom be on a separate level? Or are stairs your worst enemy? How important are nearby amenities? What about in-house amenities, such as laundry, storage, exercise room, door man, garage parking… Take stock of your needs and wants for homeownership, and make sure to define this list of criteria before you even begin the house hunt.
2). Know Thy Budget
Be aware that the costs of buying and owning a home go well beyond the sticker price. Consult with your lender and a real estate agent who can provide you with a complete financial picture. Armed with a clear idea of what you want and how much you can afford, you can now begin the search for your home.
3). Location Location Location
A property doesn’t exist in a vacuum. It’s important to factor how much you like the potential neighborhood into your buying decision. Take note of schools in the area, commute time to work, proximity to community amenities, and any other details that could enhance or detract from the appeal of your dream home.
4). Charm is Just a Piece of the Package
While the allure of an older home, with architectural designs that harken back to a different era, can be quite fetching, consider the repairs and upgrades vintage models inevitably face. Determine ahead of time how far your finances can stretch to keep that elusive charm fully functioning and up to date.
5). Realize the Importance of a Real Estate Agent
There are many nuances that go along with buying a home—deciding on an offer price, negotiating counteroffers, scheduling inspections, securing financing—to name just a few. Throughout the entire process, it’s critical to have the support and counsel of a trusted advisor. Among many things, a real estate agent can apprise you of local market conditions and make a list of things that, as a first-time buyer, you might not even know to consider.
6). Find Your Favorite. Then, Find Your Favorite Again.
After you’ve seen several properties, hopefully you’ve started to get an inkling of which ones could be your future home. Make sure to schedule additional appointments with your top choices. Perhaps there were features you hadn’t noticed before. Also, seeing a property at different times of day can paint the place in a different light. Maybe after an additional look, the frontrunner for your future Chicago home will stand out and your ultimate choice will be clear.
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