If you’re ready to start looking for your dream home, and you’ve narrowed your search to a few select neighborhoods, take these following tips to heart:
1. Types of homes. Choose the type of home that is the most appealing yet practical for you. In addition to single family homes, there are multifamily homes, condominiums and co-ops. Multi-family homes are often good for first time home buying because they can have rental income to help with their mortgage.
2. Budget and investment considerations. Find a balance between your needs, wants and budget. Decide whether you should buy a newly constructed home, a bit older home or a “fixer-upper”. If you may sell your home in the future, the following are best for re-sell value:
- Homes with 3 or more bedrooms; condos with 2 or more
- Homes with “curb appeal” always sell best
- Homes that are NOT unusual or unique and not the most expensive on the block
3. While house-hunting you will probably look at many homes for sale, so keep careful and complete notes and compare.
4. When you finally find your dream home, don’t hesitate! If you snooze, you may lose!