A Home Buyer’s Game Plan for 2015 – A Series (Part 2)
In the first of this series on buying a new Carlsbad home in 2015 we talked about the importance of getting your financials in order, specifically getting pre-approved (if you need or want to use a loan) or reviewing your cash situation.
READ:
A Home Buyer’s Game Plan for 2015 – A Series (Part 1 Getting Pre-Approved)
If you are planning to buy a Carlsbad home in 2015, having a game plan and a buying strategy is important.
And if you are relocating, there are other issues to consider - check out my video series on relocation tips and advice. Or download my relocation tips slide show.
Here’s Step 2 in your game plan series:
IDENTIFY AND CLARIFY YOUR GOAL
Yes, you want to buy a new or your first home, but you need to be a bit more specific than that – a well defined goal will help you keep focused and not get sidetracked by homes that won’t work for you. Now that you are pre-approved you know what your budget is (what the bank will loan you PLUS what your personal budget says you can afford) and can focus only on properties that fit the budget. Why look at homes that are well above what you can afford? It’s a waste of time and will only frustrate you. Plus the home you CAN afford will pale in comparison and disappoint you.
It’s essential to think about what you really need vs. those things that you would love to have but which really aren’t necessary? Here are just a few things to consider:
- Where do you want to live and why?
- What’s important to you about the neighborhood and the overall community?
- What about the schools, nearby services, and recreation?
- What amenities do you need? How much space to you need (bedrooms, baths, overall square footage)?
- Do you need a yard?
Here are links to 2 questionnaires I share with buyers to help them focus on things that are important to them in a home, and the lifestyle they are seeking in a new home. Feel free to download and put them to good use.
It’s important to be honest with yourself about your goal and really think about what you truly need. Know that there will be trade-offs as you start you search and realize that you may not get everything that you want, for the price you can afford, in the area you wish to live in.
Recognizing what is a must-have, as opposed to something you can live without or can later add to the home, will help. It’s not unusual for these things to shift as you start looking, and often buyers realize some characteristics they thought were important really aren’t. Being flexible is key in our market where inventory is somewhat limited.
Stay tuned for the next step in your game plan, hiring the right REALTOR® to help you purchase your new home!
