Tips For Home Buyers
What most buyers, especially first-timers, do not realize, is that they are doing the government, the banks, the Realtors, the construction industry and the overall economy a favor. If owning a home seems synonymous with the American Dream, it could be because fencing solid citizens inside a white picket mortgage for 30 years is very good for business. Apart from feeding the earnings of bankers, builders, Realtors, inspectors, lawyers, and insurers, a new homeowner usually forks out lavish amounts on furnishings, appliances, home decorating, gardening, and a whole slew of ancillary products that bolster the local economy.
What You Can't Live Without
Our lifestyle choices are often reflected in the homes we buy. Are you a motorcycle fanatic? If so, a roomy garage would be important to you. Have a big family? You'll likely need to buy a home with at least four bedrooms. Perhaps you or your spouse is a gourmet cook. In that case, a well-designed kitchen could be a must for you. Before your real estate agent begins a home buying search for you, he or she will want to know which home attributes you can't live without.
Schools and Family Needs
The quality of school systems has long been of importance to home-buying families. If you have children or are thinking about having children in your new home, you'll want to discuss school information and statistics with your real estate agent. Not only is it important to consider the location of your home relative to area schools, but you'll also want to think about the quality and diversity of local school offerings. Your real estate agent can provide statistics and information about both public and private schools in all the neighborhoods in which you're considering buying a home.
For many people, commuting from home to work and back is a necessary evil. A long commute can detract from a home-buyer's quality of life and the time he or she gets to spend at home. Commuting should be a critical factor in home selection, because in many communities, traffic backups are increasingly common. And today, this phenomenon applies to urban, suburban and even rural areas. If having little or no commute to work is important to you, convey this to your real estate agent.
Whether you hope to live in a vibrant urban neighborhood, or a charming rural town, the demographics, details and community statistics of a particular area are almost as important a consideration when buying a home as the details of the house itself. Do you want to live in the thick of the action? Prefer to get away from it all? If a particular aspect of a community is important to you-like a defined downtown area, or a strong recreation component-be sure to tell your real estate agent so that he or she can gather community information and keep this consideration at the forefront of your home search.
Of course, the most rigid constraint of a home-buying search is typically the buyer's budget. Defining budget parameters quickly and early focuses a home search to a particular segment of the market. However, with the creative lending solutions available today, budget constraints are not as rigid as they once were or as many home-buyers assume them to be. Many innovative mortgage options are now available to both first-time and veteran home-buyers. Before beginning a home search, you should talk to both your real estate agent and your lender about your finance options and ultimately, your budget.