Choosing a home is a huge decision, and people often make some big mistakes when they select a house to purchase. While a good real estate agent can help steer you toward a house that truly meets your needs, there are some aspects of home buying that are important to consider. Here are just a few tips that might keep you from buying the wrong home.
You already probably know how much of a mortgage payment you can afford, and you probably also have accounted for the costs of a down payment and closing escrow. However, there are more expenses to consider and these can really add up. For instance, you definitely need to think about the property tax rates in your new neighborhood. In some states, you might only pay about half a percent of the purchase price for this tax, but in California, you will pay 1% of the price you paid for the house. California has a median home value of about $400,000 and this means you probably will pay more than $4,000 each year in property tax. Add to that your monthly homeowner association dues and insurance costs, and this can be a lot of money each month.
The old adage that "location, location, location" is a huge factor when purchasing a home is absolutely true. While you might love a house, you really have to think about the location because this cannot be changed. Does it back up to a noisy, busy road? Is it across the street from a school? Is it too close or too far away from shops and stores? In addition, drive by the house during different times of day to check out the noise level and the general nature of the neighborhood. If you long for quiet and there are 50 kids living on the street, that's a bad match no matter how much you love a house.
Often we are dazzled by impressive staging or a fully update kitchen with sparkling appliances. However, that beautiful kitchen might have almost no counter space or storage. That beautiful master bedroom with the amazing drapery and crown molding also might have a tiny closet and a miniscule ensuite bathroom. You can make a room look great very easily with cosmetic changes, but you cannot make a home bigger or make closets larger and add bathrooms. Or, if you can, it's an extremely costly and difficult process. A bland home with huge potential can be a much better buy than a home that just looks pretty. Judge the home by its true condition, not its ascetic condition.
Sometimes we plan on living in a home forever, but that plan doesn't always work out. For any number of reasons you might need to sell your home, so think about how easy it might be to sell the home if necessary. A home near great schools and close to services on a safe, well-kept street generally sells well. A home with an open floor plan and an adequate number of bathrooms and lots of storage also sells well.
The search for an ideal home begins by contacting a real estate expert, such as the agents at 1st InSite. No matter what city you like or budget you have, they can help you find a fantastic home. They are highly knowledgeable about the real estate market in the East Bay and can find Alamo real estate, Danville real estate, Moraga real estate, Walnut Creek real estate or any other East Bay town or city.
You already probably know how much of a mortgage payment you can afford, and you probably also have accounted for the costs of a down payment and closing escrow. However, there are more expenses to consider and these can really add up. For instance, you definitely need to think about the property tax rates in your new neighborhood. In some states, you might only pay about half a percent of the purchase price for this tax, but in California, you will pay 1% of the price you paid for the house. California has a median home value of about $400,000 and this means you probably will pay more than $4,000 each year in property tax. Add to that your monthly homeowner association dues and insurance costs, and this can be a lot of money each month.
The old adage that "location, location, location" is a huge factor when purchasing a home is absolutely true. While you might love a house, you really have to think about the location because this cannot be changed. Does it back up to a noisy, busy road? Is it across the street from a school? Is it too close or too far away from shops and stores? In addition, drive by the house during different times of day to check out the noise level and the general nature of the neighborhood. If you long for quiet and there are 50 kids living on the street, that's a bad match no matter how much you love a house.
Often we are dazzled by impressive staging or a fully update kitchen with sparkling appliances. However, that beautiful kitchen might have almost no counter space or storage. That beautiful master bedroom with the amazing drapery and crown molding also might have a tiny closet and a miniscule ensuite bathroom. You can make a room look great very easily with cosmetic changes, but you cannot make a home bigger or make closets larger and add bathrooms. Or, if you can, it's an extremely costly and difficult process. A bland home with huge potential can be a much better buy than a home that just looks pretty. Judge the home by its true condition, not its ascetic condition.
Sometimes we plan on living in a home forever, but that plan doesn't always work out. For any number of reasons you might need to sell your home, so think about how easy it might be to sell the home if necessary. A home near great schools and close to services on a safe, well-kept street generally sells well. A home with an open floor plan and an adequate number of bathrooms and lots of storage also sells well.
The search for an ideal home begins by contacting a real estate expert, such as the agents at 1st InSite. No matter what city you like or budget you have, they can help you find a fantastic home. They are highly knowledgeable about the real estate market in the East Bay and can find Alamo real estate, Danville real estate, Moraga real estate, Walnut Creek real estate or any other East Bay town or city.
About the Author:
Madeleine Glazier likes blogging about the real estate industry. If you are looking for Danville real estate agents, or to find Danville homes for sale, please go to the 1stInsite website now.
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