A new home is arguably the most personal thing a person can own. It’s your living space, your cocoon from the world. Finding the ideal piece of property is the ultimate goal of any house hunter.
Inevitably, one question will be at the top of your mind when you start looking at new home. How do I find the perfect house? That answer is going to be different for everyone because perfection is subjective. However, there are a few fail-proof strategies that can help you find a new home that meets your needs and most of your wants.
1. Accept That No House Will Be 100% Perfect
It never fails. Even when a person purchases a newly constructed home that seems perfect, after moving in they’ll find a few things they want to change. It’s an example of we sometimes don’t know what we want until we have it. After moving in and living in the new home you’re sure to find something you’ll end up changing.
So don’t get too hung up on having everything perfect at move in.
2. Always Put Location Above All Else
A house can be torn down and completely replace. A piece of property can’t be moved. Ryan Cassidy, a popular real estate agent Chapel Hill residents trust, suggests that buyers lead with location. The first thing you should tell your agent is what area of town you want to live in and why.
If you have a few specific neighborhoods you like that’s even better. In some cities, popular neighborhoods are so hot homes go under contract in a matter of days. Knowing exactly where you want to live allows you to narrow your focus and be the first to jump on a property in a great neighborhood.
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3. Consider the Space to Expand in New Home
Having a little extra space in the home or on the property gives you options and the ability to grow. It’s a top priority for young families, but it can be a factor for just about anyone.
If you decide to work from new home in the future it might be nice to have space for a separate office. There’s a chance you may not be empty nesters as soon as you think so the extra bedroom could be a bonus. Or you may want to add a garage for storing new toys. Nine times out of ten having room to grow is a good thing.
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4. Have Everything Ready Before You Start Looking
As noted above, a nice home at a good price in a great area may require fast action. Buyers that are prepared to pull the trigger are at an advantage. Before starting a home search be ready to buy:
- Get pre-approved by a lender.
- Enlist the help of a real estate agent (it’s free for buyers).
- Research the top areas/neighborhoods to get a feel for prices.
- Get all of your financial paperwork together.
- Have enough saved for earnest money, the down payment and closing costs.
- Go over the home buying contract with your agent to become familiar with negotiation points.
Now you’re ready to start looking at listings and scheduling home tours.
5. Stick to Your Budget
The only priority that’s just as important as location is the price of a new home. Getting a pre-approval letter from a lender will tell you how large of a loan you’ll likely qualify for based on your basic financial information. It’s the perfect tool for creating a house buying budget.
So many buyers have spent months searching for a home thinking that they have a reasonable budget in mind. When they finally find the perfect home they’re disappointed to find they can’t get loan approval for the full amount. That’s why many of today’s sellers won’t accept an offer unless the buyer has a pre-approval letter that shows they can cover the agreed upon price.
While the “perfect” property may not exist in reality, there are plenty of great houses that can become your ideal home. Follow the five essential home buying strategies and you’re sure to find it!