Tips for Home Buyers

Posted by admin in House and Home, House Tips on 11-08-2017

Buying a home can be an exciting and stressful adventure that leaves you feeling overwhelmed. You spend weeks, possibly even months, looking at homes for sale in Naperville IL. But how do you know you’re finding the right home for a good price? The following tips can help home buyers find their dream home at a cost they are can live with.

Find Yourself
Before you start seriously looking for a home, know what type of structure suits the needs, style, and personality of you and your family. This will help drastically narrow down your search. Consider whether you want an existing home or one that is newly built, if you prefer a multistory structure or a ranch style. Another thing to consider is whether you want a fixer upper or move-in ready. A fixer upper will require additional costs and work on your part, but can offer you more bang for your buck. Consider all the amenities you are looking for in a home and then list them as either extras of necessities.

Do your Research
Decide which neighborhoods you would prefer to live in and narrow that down to no more than 3 or 4. Research these areas to determine whether they are really a good food. Look at the crime statics, commute time, recreation available, school ratings, and the average price of homes. Knowing this information will go a long way to ensuring you make the right choice for you and your family.

Your Finances are Important
Far too often, home buyers jump several steps to looking for a home before determining what they can afford and whether or not they can get financed. A good general rule of thumb is looking at homes that are priced no more than three times your annual gross income. You will also need to meet with a lender to obtain a prequalification letter. This will show how much that lender is willing to lend you.

Think about the Future
The type of home you are looking for should reflex the type of future you’re planning. If you want children, for example, then it wouldn’t make since to look for a 1 bedroom home when you will need two or more within the next five years. Not thinking long term could mean you either have to put your plans on hold or have to move once again.

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