- Drive the commute MORE THAN ONCE.
What happens if that school bus is late? How do you get out of your new neighborhood before you are the first car behind it smelling the exhaust. Where are the bottlenecks? Can you avoid them? What are the alternate routes? Trying a commute just once may not highlight these very valuable timesavers, and could leave you wondering why you bought the house you liked a commute ot two ago. - Listen to the inspector.
This one can be crucial. The simple rule of thumb is to not fall in love with it until you get the inspection report back. Read the report with an ear towards what your expenses could be in the next few years. If you have a clear understanding, you can plan for it rather than react to it. - Get a home warranty.
This is particularly important in today's market. The first thing to stop before a property becomes distressed or foreclosed is the maintenance on the house. I understand that the warranty will not cover known defects, but we are guarding against the unknown here. If the seller gives you a year warranty, tack a year on yourself. That $500 for the second year could save a bunch of unexpected headaches and be money well spent. - Be pragmatic.
This can be a tough one in that it is quite easy to get wrapped up in the excitement. There are two important areas in this one:- Just because you qualify for a $300K loan, doesn't mean max out on your new home. Shoot for $250K and give yourself a buffer against market conditions and unexpected life events. You are buying a new home, make sure you have the flexibility to enjoy it, rather than feeling trapped in it.
- You don't have to chnage every room at once. Pick a room, plan what you want to do and execute that specific plan. You will avoid major project overruns that can crop up when emotion overrides the plan.
- Entertain you friends.
Those with teenagers might be cringing, but note that I said YOUR friends. Having fun in your house is key to enjoying your home. Besides, you will most likely find yourself mysteriously grateful for your family, friends AND home.
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