FIND THE RIGHT HOME: STEP 6 HOME-BUYING SERIES

From the very beginning of our relationship, I pitched the idea of building a home from scratch to my husband, and I am so glad he bought into it. Don’t ask me why, but something about the smell of new homes makes me so happy. I wanted a process I could be part of, from the beginning to the end. To do so, we started house hunting two years before we purchased. To find the right home is essential during the whole process of buying. 

Once you have decided on your budget, straightened your finances, and obtained your pre-approval, there are many things to consider, besides my above reason for building a house from scratch. Below are some of the things you may consider to help you find the right home.

QUESTIONS TO ASK YOURSELF

1. Which state and town do you want to buy the house?
2. Do you want a single-family, townhouse, or condo?
3. Which school district?
4. Brand new home or older?
5. Fixer-upper or move-in ready?
6. Is public transportation important to you?
7. How many bedrooms and bathrooms? 
8. Is a backyard relevant to you?
9. Do you want a real estate agent?

Let me walk you through how we navigated the list above. 

FINDING THE RIGHT HOME

Diversity means everything to us, so we wanted a state and town where we would feel comfortable. We also talked about how a busy city isn’t a place we want to raise our kids, so we were looking to buy in the suburbs. Also, public transportation didn’t mean anything to us because we drive everywhere. We also considered the travel distance from the potential new house to our jobs and the distance to my mother in-law’s house since she takes care of our kids when we are at work. For us, the state didn’t matter because we knew we wanted to stay in our current state.

The type of school district is another thing we considered during our home hunt since we have kids. School districts with high ratings may result in high property taxes. So you have to decide if it’s worth paying high property taxes. You can buy in a district with low ratings, and pay for your kids to attend private school, but that money can also add up over time. One advantage of buying in a school district with high ratings is the resale value. If you decide to sell the house later, you may have a higher value than the initial purchase price.

MOVE-IN READY?

We always wanted a move-in ready with at least four bedrooms, three bathrooms and a backyard. If a house did not meet our requirements, we did not want to view it. In the beginning, we looked at a few town-homes, but we quickly realized that was not for us. The model town-homes we visited did not have a big backyard, so that was enough for us to move on to single-family homes. Since we built from scratch, we visited model homes from multiple builders where they showed us all their anticipated floor plans. I will discuss why we chose our builder in the future.

NEED A REAL ESTATE AGENT TO FIND THE RIGHT HOME?

Another factor during the shopping process is to decide if you want a real estate agent. That is a question you need to ask yourself. A real estate agent knows what types of homes are selling and at what price. Once you have told an agent about your budget, they will work with you to find a home that fits your budget, instead of you doing the work yourself. During our initial search, we had a real estate agent. He was very helpful to us because we initially thought since it is a brand new home, we do not need an agent. The few model homes we visited with him, he broke down many things about the houses that we would have never known. 

We were close to signing the contract to build until we realized that the town did not meet our requirements. We found out the schools in that district had low ratings, and we did not appreciate that he showed us homes in a school district that did not meet our requirements. Some of the knowledge we acquired from him helped us to make a decision later in our selection process. We decided to let him go and do the work ourselves. 

Without a realtor, it was easier to find the right home because our house is new. However, if you are looking for a pre-owned home, a realtor may be necessary. In some cases, you may not be able to view a pre-owned home without a realtor, as well as many factors to consider.

ON TO NEXT ADVENTURE…

The last thing to do during the home-buying process after you find the right home is to submit your mortgage application and close on your home. I hope the tips in this series will help when you decide to buy a home. The home buying series is now over. I look forward to sharing the journey in our new home with you. 

RELATED POST >>>>

1. STEP 1: HOME-BUYING SERIES-REVIEW CREDIT HISTORY
2. STEP 2: HOME-BUYING SERIES-SET A DOWN PAYMENT GOAL
3. STEP 3: HOME-BUYING SERIES-CHOOSE A TYPE OF MORTGAGE LOAN
4. STEP 4: PICK THE RIGHT MORTGAGE LENDER
5. STEP 5: GET A MORTGAGE PRE-APPROVAL

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Next time

Charly.