Finding Your Dream Home – Things You’ll Need to Consider

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Removing Water after water damage

Finding your ideal home is similar to finding the ideal partner. It can take some time to meet the right person, but once you do, you’ll know you’ll always have someone who understands you. You’ll always have the ideal place to unwind and make memories once you’ve found your dream house. However, there are some things you’ll need to consider before completing the sale.

Doing Homework

Start by doing some research to find your ideal match. Check out online real estate listings to get a sense of the types of homes available in the city. Look up a city’s walkability rating, and look up reviews on sites like Yelp to see where you can get your late-night delivery fix. Go offline and visit potential neighbourhoods in person, particularly if you’re relocating. Spending a weekend driving or walking around various areas will give you a true sense of the location you could one day call home.

Starting New

For many homebuyers, newly constructed or pre-construction built homes are the preferred choice. The opportunity to customise the home during the building process is cited by the majority of people as the top reason for wanting a new build. To add to the appeal, energy-efficient materials and devices are desirable. Consider consulting a professional private housebuilder like Muir Homes to take the frills out of the new home process. Rather than stressing about whether the house will be right for you, they can guide you through each stage to ensure the move (and build) is as straight forward as possible. 

Make Sure Your Finances Are in Order

Lenders generally recommend that you buy a home that costs two to three times your gross income. Make a budget so you know how much you can afford to spend on housing per month. Don’t put off looking at funding until after you’ve found a home and made a bid. Gather your financial documents and meet with a lender to get a prequalification letter that specifies how much you can borrow. The lender may or may not take into account the additional fees you’ll pay at closing, as well as your plans to start a family or buy a new car, so shop in a price range you’re happy with.

Set a Timeline

Have you sold your new home if you already own it? Do you have credit blemishes that will take some time to clear up? If not, you’ll have to account for the time it takes to sell. When does your lease expire if you rent? Do you think interest rates will rise soon? All of these factors will affect the timing of your purchase, closing, and relocation.

Hopefully, you’ve made a list of all the features you want in your ideal home. When surfing real estate websites, looking through real estate listings in the newspaper, or telling your realtor the goals you’re aiming to achieve with your home purchase, your budget and your wish list will help you narrow your search.

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