Making the Best Decision when Choosing Your Home

Being the largest (or one of the largest) investment you’ll make, buying a home comes with a lot of pressure.  There are many elements to getting this decision right making the whole things seem overwhelming and confusing.

By breaking down choosing a home to the main variables and priorities, you can make it a little simpler and get some of the distracting voices out of your head.

Here is a review of the main characteristics you want to consider when you buy a home.  Use these points to make your list of choices narrower and spend less time searching and looking and homes that won’t make you happy.

1. Location, location, location.  The one things you will never be able to chance about your home is it’s location.  There is not one thing more important than deciding where you want to live.  In choosing the location of your home, think of both the practical elements and the more fun elements.  For example, when considering a location’s practicality, think about commute, schools, home much home you can afford in this area for your money.  The fun aspect is no less important so think of your proximity to places you love to go, whether it’s the park with your kids or the restaurants with your friends.

One way I suggest you think of a location is the “drive home” test.  If you like your drive home from work, it’s a good place.  If you hate your drive home, well, start rethinking your strategy in picking where you want to live.

2. Size does matter.  The average size of homes in the united states have increased by 33% over the past thirty years.  Yet the number of people living in a home has shrunk on average.  What best suits your needs?  How many rooms and how much storage?  When thinking about the size of your home, consider the future function of this home – is this a condo you’ll live in for a couple of years or will you raise a family?  But you may want to consider something that is often overlooked….getting rid of some stuff!

We hate to admit how much stuff we have, but is your stuff worth the price of a bigger home the mortgage interest on that home.  Maybe you need 3 rather than 4 bedrooms?  Just a thought….

3. Floor plan.  There are many things you’ll be able to change in a home, but some elements of a floor plan will not move so know what they are.  If you are big on entertaining, go for more open spaces.  For physical challengers, consider a one-floor home (like a ranch).  Claustrophobes opt for open floor plans, agoraphobes look for small cozy rooms and nooks.

4. Finishing Touches.  Learn the differences between the level of finishes, because sometimes some cheap stuff looks really good.  There is nothing wrong with less expensive finishes but you shouldn’t pay a premium for them.  If you want something very swanky, I suggest you either look for something that was just redone, or better yet, get something requiring an upgrade which you’ll do yourself.  The downside of buying a home you’ll remodel is the time and money it requires.  The benefit is that it will be the way your want it.

5. Land.  A backyard is nice, but it requires work.  A garden is very nice, but it requires more work.  Think about this before you commit yourself to that gorgeous rolling three acre lot.  Many people love working in their yard, make sure you are one of them.  But land is not only important to a house, but also a condo.  You should know if the land around the building is shared and how it is maintained.  You may be able to find a condo with outdoor space in which you can garden, if that is something you like to do.

Prioritize your list of wants for each element, and know what you want and need so you don’t wast time.  Instead, focus and find your dream home.

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