Every successful home search begins with a wish list. By knowing your must-haves in a home, you will know how to focus your search and recognize when a potential home isn’t worth your time.
However, the longer you look, the longer your wish list may grow and sooner or later it’s inevitable that you will have to make some compromises somewhere. In these days of tight inventory & multiple offer situations, you might feel forced to waver from your wish list in order to land a home.
While it’s important to be flexible, there are a few times when you should definitely draw the line. Here are four areas where you won’t want to budge when it comes to buying.
First is a good school district. Even if you don’t have children, you should make sure the home you are buying is in a desirable school district. Good schools typically translate to a higher resale value which is important when it comes time to sell. Potential buyers with families will want to be in the right district.
Second is the floor plan. Does the home you are looking at fit your minimum criteria for number of bedrooms and bathrooms? While you can always change the layout to make an open floor plan, it is a lot more difficult to change the bedroom and bathroom counts. If you need a certain number of rooms, don’t compromise or you could be stuck with a big financial undertaking.
Third is the neighbors. During your search, don’t just focus on the home you’re interested in, check out the neighboring homes as well. The condition of properties around you can affect your future resale value and could end up driving you crazy. Make sure you look and listen any time you visit a prospective home because while you can change your home, you can’t change the homes around you.
Last is your budget. You’ve probably already determined how much you’re willing to pay for a home and you shouldn’t budge on that number. While a lender will give you a pre-approval and tell you how much house you can afford, this is just one piece of the puzzle. Make sure you can set a budget that includes monthly payments, utilities, taxes, etc so that you are fully prepared when you make an offer.
To avoid frustrations after you have closed on your home, stick to your guns about the things that are most important to you while making your choice.
If you are looking to buy a home, call us today at 614-855-8700 to speak with one of our real estate experts. For more information about the buying process, visit our website at www.TheRainesGroup.com.