Posted by Lonnie Cartmell-
Is the home you are looking at the perfect one for you? Consider these things when trying to find the right fit.
Function – When looking at floor plans look for opportunities for multiple functions. Do you need spaces that can be used for either sleeping or a study/home office? Does the kitchen-family/great room floor plan work for you? If you have children (or plan to have them) does the space allow you to keep an eye on your kids when you are cooking? Does it work well for entertaining?
Location. Location. Location. If the house works perfectly, what about the location? Do you need to be near schools, stores, freeway access? Is it located at a busy or noisy intersection? Does the neighborhood feel safe? Do you want to be close to parks and/or want to be able to walk/run nearby? Are the homes nearby in good condition? At some point you will be selling this home and new buyers will ask similar questions.
Price Point. You will love your house even more if you don’t financially overextend to buy it. Look at your finances. It is easy to shop yourself up to a higher price point than you started with. Stay level headed. Keep in mind your current expenses. It’s always a wise choice to buy a home you can easily afford rather than one that destroys your financial cushion.
Look Toward The Future. Planning to stay in your new home for at least 5 years will help absorb your moving costs and protect you in case of a market downturn. The magic number? 5-7 years.
Growth Management. Will this home allow for changes that might occur in your life? If your family grows, will there be room for 1 or 2 more? If the ‘kids’ return from home unexpectedly in their 20’s, is there space?
Investment and Dreams. Though you will likely sell the home in the future, think about your lifestyle and your home first. There is no crystal ball when it comes to real estate cycles and predicting a certain amount of appreciation could be dicey. Real Estate reality shows are not always the true reality of investing. Although the goal is to see your investment appreciate, it might take longer than you think to reach the magic ‘dollar’ amount. So choose your home with ‘living’ in mind, rather than future dollar signs.
Advice. Rely on good advice from a professional with experience. A good real estate broker has had experience in your local market, has been through several ups and downs of the market, knows the current trends, is familiar with area amenities and can offer great resources (contractors, inspectors, lenders, decorators) to help you throughout the decision making process . Having a strong advocate/negotiator working on your behalf not only provides peace of mind, but may save you money in the long run.
- Lonnie Cartmell
- Broker | Windermere Real Estate
- 425.890.3310
- lonnie@windermere.com
- LonnieCartmell.com
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