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Five Things To Consider When Buying A Home
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Where Do You Even Begin?
The process of finding your dream home can be both exciting and daunting, especially if you're a first-time buyer. Asking yourself a few key questions can help simplify your search, reduce stress and make the process more enjoyable. The first step is to put together the right team, built for success.
We will work together to create a game plan that defines what you're looking for in a property. Then, it's time to chart the path on this adventure which ends with me handing you keys to your new home!
- What Can You Afford?
Setting your budget is an important first step, even before you begin your search. It’s heartbreaking to fall in love with a home you can’t afford! Working with a good lender to you get pre-approved or pre-underwritten for a mortgage is vital. Property taxes vary
depending on the area, we will need to research each property of interest before writing an offer. If a home is in an HOA, there may be additional fees to factor into your budget, as well as rules and regulations to consider for the neighborhood or complex.
2. What Are Your Non-Negotiables?
Consider what is most important to you in a home. Imagine waving your magic wand to create a picture of your ideal home. Do you want to live in a specific neighborhood? Is the backyard a priority for you? What is the specific size, style, or layout you prefer? If you're sensitive to noise, most likely you'll want to live away from busy streets. Living near public transit may be your highest priority. Once you clarify what you are unwilling to budge on, you can streamline your search to find the home that truly meets your essential needs.
3. What Lifestyle Do You Live?
Location, location, location! You'll be happier and more comfortable in a location that supports how you love to spend your time. Consider the feel of the neighborhood, your proximity to public transit and highways, and your commute to work. If you love being outdoors, you'll want to look for a home near parks or nature trails. If you're a social person, perhaps a bustling city center close to restaurants, entertainment, and nightlife.
Some people enjoy renovating a "fixer upper," while others want a home that's move-in ready. Even small renovations can transform a home and significantly increase its value. Be sure to factor in the cost of renovations to your budget. Also, inspect the home, ask questions and check that everything is in good working condition. A home inspector is the member of the team to help guide you through this part of the process. Appliances and HVAC systems can be expensive, and usually require professional installation and maintenance. Note the condition of the exterior items such as fences, gutters, and landscaping and what they may cost to repair or replace.
4. What Condition Is The Home In?
5. What Is The Long-Term Value?
A home's future value is determined by several factors, including the neighborhood, the property's size, age and condition. Living in an in-demand school district and making improvements to the home can add significant value. There are also external factors that can affect a home's value, like a new road or railway line nearby or a zoning change. We will work together to evaluate each home of interest to determine a fair market value.
The search for a new home is exciting! Although it can take some research, planning, and expert advice, finding your dream home for years to come will make the effort worth it. This is a life changing experience for you, and I'm excited to be your guide on the adventure!
Most Importantly, Have Fun!
Tyler Mayclin
REALTOR ®, Managing Broker, MCNE
Windermere Real Estate, Bellevue Commons Inc
Independently owned and operated.
Independently owned and operated.
100 116th Ave SE, Bellevue , WA 98004
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