Finding the Right Pre-Owned Home
Purchasing a home is one of the largest investment journeys most of us will ever embark upon. Therefore it makes perfect sense that we would want to be sure we are making all the best decisions at the right time.
First Time Buyers
If you have never previously owned a home then entering the real estate scene with the intention to buy a home can be a bit intimidating. Simply put, there are many different trends and aspects of owning a pre-owned home that can, for the most part, only be truly taught by experience.
Much more goes into owning a home than simply signing all the papers and then moving in. Buying a pre-owned home is a big decision and in today’s real estate market it can be a somewhat difficult task finding a home that really fits your current and future needs and ambitions.
Finding the right home will likely take a mix of skill, experience, research and access to useful realty market resources all rolled into one. Most of us do not have the time or resources for viewing a broad perspective of everything the current market has to offer with pre-owned homes in our area. Unfortunately, all too often there are missed opportunities to pursue those which could have become a valuable and beloved asset.
Finding the Right Home
Unless you are a house flipper or simply buying a home as an investment to rent, finance or similar action, this will be the dwelling in which you will be spending a good share of your future. So it makes perfect sense that you will want to find a house that closely fits all your current and future plans.
That famous saying “there is no place like home” is something most homeowners know to be true. For many, the love of their home is so strong that it becomes a part of them.
Location, Location, Location
“Location, Location, Location.” This statement is still as true today as it was when it was first made popular long ago. There are a variety of aspects that should be considered when finding the best location for purchasing a home. Some of the most important questions to ask:
- How close is the home to where you and/or your spouse work?
- Does the home have nearby access to major highways?
- Are there a variety of different merchants and businesses in the area?
- How close and how highly rated are the schools in the area?
- Does the area have a viable potential for economic growth?
- How close is the nearest hospital or medical center?
- Is the area free from problems such as crime and flooding?
- Does the area have sufficient law enforcement and firefighting resources?
Another important aspect when choosing a home is the size of the home. Larger homes are great for family gatherings or having small dinner parties, however there is more expense with paying taxes and a larger home is more difficult to maintain.
Also, there is more cost with heating and cooling a larger home. The present and projected size of your family and income over the next 15 years or so is one of the largest factors to consider when purchasing a home. An average three bedroom house is usually a sufficient accommodation for a family of 4-5 people.
Plans for Improvements
For those who purchase a home with plans of do-it-yourself improvements will discover that over the long-term it can typically take years to get a house and property set up the way you want. Unless you flip houses as a full time job, accomplishing all needed or desired improvements with a home while occupying it as your main dwelling is no easy task.
The process is lengthened even more for those who work full time. Some might choose to make only minor changes or improvements like painting the interior a different color or maybe add some landscaping for making the exterior more attractive.
Others may choose to remodel large areas of the home, add another bathroom or even alter the floor plan. In today’s market, more and more people are purchasing a home with this idea in mind. For some the home remodeling part is somewhat of a hobby they like to do in their spare time.
Often these homeowners have a full time job and do any work needed on weekends and during their time off. Most realty experts consider this a wise investment considering that the improvements will only increase overall property value. Often older homes showing the signs of age are excellent prospects for this type of scenario.
Whether you are in the market to buy a home or sell a home, in today’s housing market it helps to have a well planned strategy in place for guiding your steps to becoming a first time home buyer.