The process of finding a home can be exciting and stressful at the same time because it is such a unique experience; it is unlike shopping for anything else. Purchasing a large item like a new vehicle or boat might come in a close second, but nothing compares to buying a home.
In spite of the magnitude of the decision, a lot of home buyers don’t develop a strategy to weigh their options and decide which home to purchase. So in order to reduce your stress and successfully find a home that matches your needs and wants within your budget, you’ll need to devise a home-buying strategy.
Having a strategy in place will help you stay dedicated to your goals, and it will help you work within your budget.
Your strategy should include:
1) anything that is a non-negotiable in a home,
2) a detailed budget,
3) any time constraints you are dealing with,
4) location preferences, and..
5) any other items that are important to you.
A great starting point is to take inventory of your current home. In words, take a moment to write a list of the pros and cons as you see them. Then make a list of non-negotiable items whether they are “must-haves” or “absolutely-nots.” Follow this up with identifying your list of “wants and desires.” Once you have completed these lists, share them with your agent and they will help you find properties that best match your list of criteria.
When you begin to go out and tour properties, stick to your strategy. It’s really smart to carry a camera so you can take photos of your favorite properties. After viewing several properties, it’s easy for them to start running together in your mind. If you’ve taken photos, you can always go back and reference them later. You should also take some pictures of the neighborhood features such as parks, playgrounds, community pools, or anything else that may make a specific listing a potentially strong match.
Another great tool for home buyers is to take basic notes while viewing a property. The Department of Housing and Urban Development (HUD) has published a really useful checklist for home buyers. Many home buyers like to jot down their own personal notes on a pad of paper, which is perfectly ok, but those kind of notes should be used in conjunction with a standard questionnaire like the one provided by HUD. The reason for this is that buyers tend to take dramatically different notes from one home to another. So later when you go back to reference your notes, many times they will not be good enough to help you remember what you liked or didn't like.
Taking the time to do the research and keeping notes means you’ll have all that information available to you. And, all that information translates into a successful home-buying strategy that will keep you organized and focused on choosing the home you like best.
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