Consider these 6 things before buying a specific house!

Before any potential and qualified homebuyer decides to purchase any specific home and property, they should carefully consider why they are choosing it, whether it is right for them, etc. After more than 15 years as a licensed real estate seller in New York State, I believe a person should not only consider whether simply buying a home is right for them, according to the rules of thumb, etc. , including affordability, etc., but it is wise to fully consider these 6 things before purchasing a specific one. With that in mind, this article will briefly attempt to consider, examine, review, and discuss 6 things, all of which must be fully considered and examined.

1. Does it fit your current needs?: Why and how does it fit your current and existing needs? Does the combination of location, schools, safety, affordability, and the home’s specific features, strengths, and weaknesses make sense to you? How many bedrooms do you think you need and want? Are you considering the specific property, as a startup – home, or for a much longer period? Can you, comfortably, happily, etc., move in, directly, or what would you do right away? How are the, house bones? It is usually wise to walk around the block and the local area to assess whether you would like to live there.

2. Can you afford the down payment and closing costs?: Lenders use several metrics to consider whether you qualify for a mortgage, and for how much. However, it also matters what you are comfortable with, as well as your preparation, for possible contingencies, etc. Beware, this is essential, to know, early on, but far from the only knowledge you might need to determine if it’s right for you!

3. Meets foreseeable future requirements: Unless you are only buying this property, in the very short term, it is wise to consider whether the house and other factors meet and hopefully exceed future requirements, needs and priorities.

4. Can you comfortably make monthly payments, etc?: For most buyers, mortgages are necessary to buy! Make sure you’re comfortable with your monthly payments and installments, including: interest and principal on the mortgage; real estate taxes; sure; utilities; reserve for repairs; reserve for renovations and improvements; etc!

5. Will you enjoy this area/neighborhood?: What are you looking for, in an area, and is this house specific, in such an area? Consider factors such as: security; education/schools; neighbors; conveniences; and everything that may be important to you, in the present and in the future.

6. Do you consider your personal comfort zone?: Each of us has different comfort zones, so it is important to consider if the specific property suits yours, etc.

These 6 things are just a few of the factors a prospective homebuyer should consider before purchasing what, for most, is their greatest financial asset. Act wisely, to ensure that you are pursuing the American Dream, it does not become a personal nightmare!