Buying a home is a decision that could have a major impact on your life for the next five to ten years (if not longer). That's why it's extremely important to know your requirements and what you need to be happy.
If you're in the process of looking for a house to buy, it pays to do an analysis of your financial resources, your goals, and your desired lifestyle.
For example, if expanding your family is part of your five-year-plan, you'll want to make sure the home you buy has enough bedrooms, play areas, and safety features to meet your future needs. The broad category of "safety features" could cover everything from the neighborhood crime rate to the amount of road traffic the street is subject to. Proximity to emergency services is also among the many things to consider when shopping for a new home.
Choosing an experienced real estate agent to help you navigate the many challenges of house hunting will increase the probability that the property you choose will be a good fit for your needs. A bank loan officer or mortgage broker can assist you in determining the type of mortgage you can afford and be approved for.
Other than affordability, sufficient space, and safety considerations, here are a few other items to keep in mind as you shop for your next home.
- Commuting distance: Finding the ideal house that is located less than a half an hour from your business or place of employment can be difficult. That challenge becomes even greater if both you and your partner commute to work every day.
- Number of bathrooms: Some homes only have one bathroom, which can quickly become a source of conflict and frustration in growing families. Making sure your home has enough bathrooms to meet your current and future needs is a key priority for all house hunters.
- Miscellaneous requirements: Depending on your lifestyle and other factors, your home-buying priority list could include everything from a two-car garage and basement to a backyard patio and deck. If privacy is high on your must-have list, features like fencing, privacy hedges, and sufficient space between neighbors will also be important. Other items to consider may include a fireplace, space for a home office, and an eat-in kitchen.