Home ownership is no small thing and not something you can make a quick decision on. Buying a home is very involved and it can be difficult knowing where to start. With the following house buying tips you’ll soon be able to narrow down your property choices and purchase your perfect home.
Take Your Time
Buying a home is a long term decision and you should consider it as a choice that will affect you for several years. At the very minimum you should live in a home five to seven years if simply to allow time for market growth. In that respect, the buying of a home is also something that shouldn’t be rushed. Take your time when looking for homes and do plenty of research. Also be sure to do walkthroughs of several different properties to get a better idea of what would be a good purchase. By not rushing the decision, you increase the odds of your home purchase being a successful one.
Don’t Look Down On a Fixer Upper
Another house buying tip not to overlook is that a home in need of minor repairs can be a very good purchase. Homes requiring repair work often sell at a discount or below current market value. If you have the skills to do minor repair work, or know people who do, then a home in need of some work can save you a good deal of money up front. However, make sure any repairs that are needed are not too expensive to perform.
Consider the Location
Before buying a home, consider its location. Take a close look at the surrounding neighborhood to decide if this is a place you truly want to live. Neighbors you don’t enjoy living by or a noisy street can quickly become a bother. Things like crime rates, local schools, amenities, and proximity to work or leisure activities should always be considered. However, you shouldn’t be so set on an exact location that you miss out on a home you want. Be somewhat flexible in your location choices and you can find a home that meets all your needs.
Get What You Like
When buying a home there is no shortage of variety. Freestanding homes, duplexes, and town homes are just some examples. Consider what you want in a home before you buy. For example, a large home on its own land is a good idea if you have or are planning to have, a large family. Plus you also gain privacy by owning your own property. But you have to maintain the land itself and do regular repair work on your home. In contrast a duplex may not be as private or have as much room, but there’s less work involved for regular upkeep. When buying a home consider what you want, what you need, and what you will need in the future.
Remember It's a Home
The last tip to buying a perfect property is to remember you plan to live there. While resale value and home appreciation are good things, they should come second to the value a property has as a residence. Remember, predicting the market is hard enough for professionals, so always consider what a home can do for you as a home before you think of it as an investment.
For more house buying tips and to learn about the best new listings in Durham Region, contact us at Mary Roy and Team.