When it is time to purchase your first home, relocate, or find a home that better fits your current needs, preparation is essential to reduce stress and make the buying process more efficient. Understanding how you as a buyer can prepare to purchase your home before attending the first open house or showing will set you apart from other buyers and help you to obtain your dream home.
In preparing to buy a home, consider what your needs are from the home. How many bedrooms and bathrooms do you need? If this is your starter home, will you live in the home once you have kids? Are you going to need to provide care for elderly parents or family within your home? Each of these questions are life scenarios that impact what your needs are from a home.
The next item to consider is location. How long are you planning to live in the location? If you will only be living in the area one year or less, a home purchase may not be the best option for you. Take a moment to consider your life in five or ten years; will the location still meet your needs in the future? Even if you do not have kids, look into the schools for the area. The right school district improves home values, and will help if you decide to sell your home in the future.
Sit down and plan a budget. In many cases, potential home buyers only think about the amount the mortgage company approves and not the amount you can afford. When planning your budget, take in the big picture of taxes, insurance, utilities, food, improvements and maintaining the home, car payments, student loans, retirement, and any other expense you may have. Once you review your budget, then you can set the amount for your home within a budget you can comfortably afford. Purchasing a home you can comfortably afford makes home ownership more enjoyable by not adding the stress of financial strain. The proper planning and preparation when buying a home will make the process more enjoyable and help you reach the goal of a new home that fully meets your needs.
We at KellerWilliams Silicon City are here to help you with your real estate needs. When you are ready to discuss your options, call me, Matt Nguyen at (408) 784-1846 or send me an email: mattnguyen@kw.com. You can also visit my website for available listings and additional information.
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