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28 September

Buying a House: Look for a Dream, but keep it Real

Buying a house is a great step in everyone’s life. Besides all the “dream” aspects surrounding the topic, there are rational details that should always be considered. We would like to focus on those to help you close a great deal and find exactly what you are looking for. Of course, emotions are impossible to be fully disregarded in such a time, but don’t let the “heart” dominate the “head”.

Location and Size of the Lot

Ten out of ten articles about buying house state location as #1 priority, and we are no different. You have the ability to basically change everything in your house, but you will never be able to alter its location. Location comprehends distance from the logical places such as work and school, but also distance from stores, pharmacies, restaurants, parks, and everything that is in your routine. You may also consider the traffic and public transportation and, of course, the subject aspects of nationhood and crime rates. The second thing regarding location is the size of the lot itself, as you can always extend the house, but not its lot, so think carefully about the size, position, view, and natural elements that can’t be moved.

Create a wish list, and keep it rational

When buying a house, you don’t need to only think about meeting the needs, but also fulfilling wishes. Therefore take time to build a wish list and make sure to create one for each member of the family. After putting all wishes together, you will be able to have the recurrent demands and prioritize it based on family’s need for short and long-term planning. Do not prioritize items you can’t afford or that will need extra time and money (that you may not always have), like pools, gardens, and yards. Also, think about the right amount of space such as the number of rooms and bathrooms, the number of storage spaces like closets, and if there’s a basement, garage, and attic. Finally think about space for future renovations, because they might come up in the future, even if you are not planning them right now.

Pay for what you can afford

This is the most critical part of the process: how to make your home expenses fit your budget. Think rationally about the amount of income you can dedicate to a mortgage to avoid struggling and plan ahead, considering if your family could grow and adding all potential future expenses for children. You need to also plan for taxes, dues, and fees involved in the process now and in the following years. Try our mortgage calculator to understand this further.

Work with experienced professionals

An experienced realtor will help you in all the matters above, as well as understanding your requirements from the get-go to show properties accordingly and making sure you will secure a great deal. If something does not fit your expectations, let your realtor know so alterations can be made accordingly. Always ask for recommendations and use internet MLS search as part of your decision-making process. Hire a home inspector, so you know exactly what you are buying and if there is any detected flaw, which can be considered in the final price and used as a negotiation tool.

Finally, don’t be pressured. This process may take longer than you want and you need to be prepared. Always think and plan ahead to avoid rushed decision making.

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