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Home Buying Decision Factors

By
Managing Real Estate Broker with DCRE Residential

here are many factors involved when deciding to purchase a new home, some pretty obvious others less so.  As a Realtor we are here to help, but ultimately it is the buyers decision on what factors really matter to them when deciding on which neighborhood to move to, which style house they want, how many bedrooms, do they need a washer/dryer in the home? There are an abundance of factors to consider below is a list of 10 items for you to think about as you are starting or going through your home buying process to help you determine which home is right for you:


1. Location: Do you want to be within easy distance of grocery stores, restaurants, shopping areas? Do you want to be within easy distance of public transportation (be it the metro, bus or rail lines), though taking into consideration being closer to these might be a little more pricey, but you might not need a car as a result or in many metro areas around the country there are Zip cars you can rent for a hours, the day or weekend.  Another location factor might be are you near parks and trails, do you like to get out and go for a run or bike ride, or walk the dog?

2. Does it need to be a new home or does an older home work for you? There are advantages to both, many new homes come with builder warranties which can cover many items for a few years into your purchase, whereas an older home maybe carming, but need more up-keep and maintance. Is there central AC? Do you have radiator heat? Has cable and internet wiring been installed?

3. Do you want a turn-key/move-in ready property or a fixer-upper?  Do you want to just unpack your belongings and move right in or do you want to renovate the house with the finishes of your choice?

4. Important to many is the schools around where you are looking? Is there a strong public school system or would it be better to send your children to private school? There are many sites that give school information, however as a Realtor we are unable to provide any buyer with this information.

5. Do you need a home that has been upgrade, that includes such items granite counters, stainless steel appliances or hardwood floors? Are theese factors in your decision to buy a home?

6. Which type of home are you looking for? Are you looking for a condo or co-op? Are you looking for a singel family detached home? Single family attached or townhouse? Do you want neighobrs sharing a common wall with you? Do you want someone at the front desk to collect packages and monitor visitors? Do you want a community that has a pool, fitness center, community room or other ammenities (this can be found both with condos and in some housing communities)?

7. Do you need or want a garage to park your car in or is street parking or a driveway enough? Do you want to clean snow off your car during the winter or carry packages through the rain or have a coverered parking (where you might pay more for this feature)?

8. Does the architectural style matter to you? Do you want a modern home? Do you want a traditional colonial? Does the floor plan matter? Do you want an open floor plan with the kitchen opening up to living areas or do you want a traditional floor plan with a formal living and dining rooms? Do you want all your living space to be on one or two floors or do you want the bedroom and bathrooms on seperate

9. Do you want a yard, where children can play in, you can plant a garden or flowers? Or do you want zero-maintence and not have to get out there to cut the grass every few weeks? Which fits your life-style best?

10. Are you looking for a second home? Is it a seasonal home? A weekend home or is the second home in the city near where you work? Is it planned to be the retirement home after you get done working? Can you rent it out while you are not there to help with the mortgage payments and up-keep?

These are just a few factors to consider when buying a new home.  It is good to develop a matrix of items you really want and must have vs things that would be nice but not necessairy to have while you search for your new home.

 

Posted by

Melissa Barkalow

Broker, ABR, e-Pro, CRB Candidate

Licensed in DC, MD & VA

mbarkalow@comcast.net, C: 202.285.9479

www.RnRRB.com

R&R Residential Brokerage O: 703.348.2751

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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hi Melissa,  What a great post!  Thanks for sharing.

Feb 23, 2011 01:26 AM