It’s all about compromise.
Buying a home is a huge investment, financially and emotionally. Hence, it makes sense that you want to find the perfect one. You can put everything you can think of on your new home wish list, but don’t be inflexible. There is no real perfect home. All homes will have their flaws; there will be features that you find less than ideal. Therefore, you should compromise. You must decide if you can manage them, or if they are deal breakers. Here, we will help you to know the difference.
This one seems fairly obvious. However, it’s the most important to point out since it’s easy to shoot for the moon and overspend when buying a home. This is understandable because you want the home of your dreams. To avoid this, don’t look at homes outside of your price range, as this will lead to you lusting over something you cannot afford. You need to examine your finances, keeping in mind current and future expenses and any major expenses that may occur once a year, such as insurance premiums you pay annually or annual vacations. You don’t want to exceed your means. It’s best to buy a home that you can easily afford, rather than one that you must stretch to get into.
You need to consider the neighbourhood, schools in the area, the view, proximity to work, the lot size, among many other things when it comes to location. You need to be clear in your mind as to where you see yourself living. You can always fix the house and renovate, but you cannot move the house.
3. Floor plan
Floor plans are similar to location: pretty much impossible to change (without extensive remodeling, that is). Therefore, when looking at the home, look at how everything is set up and imagine your life there. Remember this is going to be your home.
4. Structural integrity
Make sure you assess if the house is safe to inhabit. Make sure your home is structurally sound, otherwise you may have to pay a hefty amount for the structural repairs.
5. Number of rooms
Don’t get a cute two-bedroom home when you know you’re planning to have children and you’ll need the additional rooms. If you find that you’re trying to convince yourself that it could be fun to have everyone sleeping together in one room, keep looking.
6. Health and safety
Some health and safety issues are easily addressed, but there are some that are not. Ensure that everything is inspected so that your health is not in danger.
WHAT’S NOT SO IMPORTANT:
1. Interior condition
When it comes to the paint, the flooring, appliances or the cleanliness of the home, these are easy things to deal with. You might find it difficult to look past these and these may influence your decision – don’t let them. You must see past the hideous fixtures and visualize what it could be like. If the home needs thorough cleaning – hire someone. If you don’t like the paint colour – repaint. These are factors that are easily remedied. Even if you are on a tight budget, these can be fixed over time. These should not prevent you from buying an otherwise ideal home. Besides, doing home upgrades yourself, or hiring a contractor, is often cheaper than paying the increased home value to a seller who has already done the work for you.
Just like the interior aesthetics, the outside of your home can also be altered. Perhaps you can even make a hobby out of it and start gardening. Whether you do it yourself or have someone else to do it, the problem is easily fixed and should not influence your decision in buying your home too much.
3. Room size
Many persons may think that this is very important. Yes, more space is always nice but it’s all about what you do with the space you’ve got. Get the proportions of both the room and the furniture right, and everything will come together. Therefore, don’t get stuck on square footage as this will limit your options and you may miss out on a property that has everything else that you want.
4. Additional amenities
While having a swimming pool or a patio area would be lovely, don’t put these amenities at the top of your priority list. If a home has met all the criteria but these, then compromise buying the home and these features can be installed at a later date.
These lists certainly are not exhaustive of the features that you might want to consider and they will vary from person to person. What’s important to one person might not be as important to another. Therefore, make lists of your own and consider which factors are non-negotiable for you and which ones are more flexible. This way you can find the best home for you.