6 Considerations Potential Home Buyers Should Pay Close Attention To!

Since, for most of us, the equity in our home is our number one financial asset, wouldn’t it make sense for prospective homebuyers to participate in this process in a more prepared and knowledgeable way? instead of resorting to allowing your emotions to take over most of your process/way forward? After more than 15 years as a licensed real estate seller in New York State, I have come to firmly believe that there are at least 6 considerations that must be fully examined and considered before moving forward. With that in mind, this This article will briefly attempt to consider, examine, revise and discuss these, and why, they are and do matter.

1. Price Range/ Affordability/ Credit: Before starting this process, and even looking at/seeing a house, it is important, objectively and introspectively, to do a personal check-up, from the neck up, and determine in what price range. , you can pay, and if you have the credit, necessary, to qualify, for the appropriate financing/mortgage, paying the monthly installments, and you are comfortable, with that responsibility, on a regular basis. Remember, this is in addition to the down payment, closing costs, etc., required up front!

two. personal/family needs; current priorities and perceptions: What are your current needs, personal and family, and why? What are your options and which one is best for you personally? What do you need and are you ready, willing and able to differentiate between your needs and your wish list, etc.?

3. Future situations and circumstances: Are you looking to buy a long-term home or just a short-term, so-called, starter home? What do you anticipate your future needs and circumstances might be, and will you be prepared accordingly?

Four. Specific area: What draws you to a specific area and why? How does it serve your interests and benefit you personally, both in the short and long term? Is it the convenience, the safety, the schools, the neighborhood, the beauty of the area, or what? How much are these worth to you?

5. Schools/education: In general, quality school systems attract potential buyers and therefore keep prices higher and stronger, because they significantly increase the attractiveness of the specific region, etc. However, with that usually comes higher taxes (due to school taxes, etc.), so how might you balance this in your best interest?

6. Security/Crime: There is no question, the perceived safety of an area is an important factor in terms of home value/price. When both perceptions and reality show below-average crime rates, home prices generally benefit and are higher than in other areas.

Be as smart as possible, a homebuyer, and go ahead, asking all the questions that matter most to you before making any buying decisions. Will you help yourself, when it comes to this?