When it comes to looking for a new home, some people don’t know where to begin. This is especially true for new families with babies and small children. The information below may help a new family find a good home in a timely manner.
1. Do Not Rush the Situation
If your family wishes to be successful with house hunting, you shouldn’t rush the situation. When someone attempts to find a home too quickly, he or she will make mistakes. You may miss out on important information and purchase a home that does not entirely fit the needs of your family. You may also feel overwhelmed and stressed. Buying a house is one of the biggest purchases you will ever make, you should not push to do too much in one day or a few days, but rather should take your time and carefully research your options.
2. Think about the Community
Before you purchase a home or sign any contracts, it is important to think about the community. For example, if someone in your family suffers from an illness or disorder, it is probably a good idea to live in an area that is near medical facilities. Parents may wish to think about the proximity of government buildings, business sectors, and other things. Does the community appear to be safe? What about schools? Do they provide a high quality education? Does the community have what the family needs in order to thrive and be happy? These are all things to consider before signing a contract.
3. Look at More than One Home
It is vital for a family to look at more than one home before they reach a decision. No matter how good the house looks you need to look at several before making a decision. Even if you like the first one you need to see others, if just for comparison sake. Even on all the “house-hunting” TV shows they visit at least three homes. But in real life you probably have to look at even more than that.
4. Make Provisions for Children
Looking at houses can be long, tiring and boring for little children, in addition having children along can be distracting for parents. It is best to make the initial visits without the children and then once you have settled on one or two that you like best bring older children along to get their opinion. Be sure to pack a bag of snacks and toys to keep the child happy and content.
5. Scout Neighborhoods
If you are moving to a new state with little experience with the area talk with somebody who lives there preferably friends or relatives without a financial interest in what you decide. They can guide you away from unsafe neighborhoods and a loved one may be aware of a home that is available in their respective neighborhood. In addition you can use sites like http://www.crimemapping.com/ to look at crime patterns and http://www.neighborhoodscout.com to determine how many people are college grads or living in poverty, etc.
6. Create a Budget
One of the first steps, before you even look at your first house is to sit down with a mortgage professional or real estate agent and determine what you can afford in monthly payments. Do you have a down payment? How much? At this time you can even try getting “pre-qualified or “pre-approved” for a loan. See Pre-Qualified vs. Pre-Approved for a Home Loan for an explanation of the difference. When seeking out a new home for the family, you need to think about the budget. It is vital to think about the financial situation of the family and what the family may acquire as a living space. This is something to keep in mind when the time comes to look at mortgage rates. A small difference in the rate can make a large difference in your monthly payments. So the availability of a low interest rate can make the difference between affording to buy a home and having to rent. But there are many more expenses involved in home ownership than just the monthly mortgage you also need to take into consideration the cost of insurance, taxes, heating and cooling, trash pick-up, phone, internet and house and yard maintenance plus others I probably haven’t thought of. Many of these are not necessary when you rent so you need to be sure you are comparing apples with apples.
7. Create a List of Preferences
In addition to determining the amount you can pay for a house you should also list the key features you are looking for. Do you want a fenced in backyard? A swimming pool? Low maintenance? Proximity to shopping? Daycare? Single level? Basement? A place for a garden? What is most important to you?
When it comes to looking for a home, many new families do not know their options. They may feel confused or otherwise scared about the situation. Hopefully, the above information will get you off on the right foot.
See Also:
- A — Z Glossary of Mortgage Terminology
- Choosing Between Unsecured and secured Financing
-
Cost of Living- Comparing Different Cities
Recommended by Amazon:
- Home Buying Kit For Dummies
- Nolo’s Essential Guide to Buying Your First Home
- The Essential Handbook for Buying a Home
- Home Buying For Dummies
- 100 Questions Every First-Time Home Buyer Should Ask: With Answers from Top Brokers from Around the Country
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