There are few things more exciting than upgrading to a new home. It’s rare to find a property that checks every one of prospective buyers’ boxes, but that doesn’t mean it’s impossible. Whether a buyer is looking to purchase an existing house or work with a builder to create their dream home, they should read on to find out what to consider beyond the basics of the home’s size and overall condition first.
Setting a Budget
A buyer’s ability to obtain financing can impact what types of residential real estate he or she can feasibly afford. Looking into homes in price ranges well above the family’s budget can be fun, but it’s not a very good use of time. The best way to get an idea of what a buyer can really afford is to seek pre-qualification from a lender before starting the home search in earnest.
Separating Needs From Wants
Unless buyers can afford to work with home builders to create the perfect house, they’ll need to develop a clear idea of the family’s needs versus negotiable wants. Start by imagining the perfect lifestyle, then prioritize the factors that seem most likely to contribute meaningfully to its development.
Let’s take a look at a concrete example. Say everyone in the family enjoys spending time outside, a large yard or access to parks is a requirement for developing an ideal lifestyle. Add one or both of those factors to the core criteria list, and don’t compromise.
On the other side of the equation, there are some buyers who are so picky they overlook excellent opportunities. Remember that ugly wallpaper can be removed or covered up and poorly designed kitchens can be remodeled. A willingness to compromise on specific features can make it easier to find properties that meet the family’s core criteria.
Staying Realistic About the Need for Repairs
There’s a reason sellers are required to disclose certain information about a property, and buyers typically include inspection contingencies in their purchase agreements. Certain types of home repairs can cost a lot of money and create a lot of headaches. Prospective buyers should be realistic about their abilities to perform repairs at home or pay contractors to get the work done efficiently. Big jobs, like installing new roofs, retrofitting outdated electrical systems, or addressing severe plumbing leaks, can cost a small fortune.
Evaluating Neighborhood and Community
Don’t underestimate the importance of location. There’s a reason the same house could fetch a higher price in one neighborhood than in another, and it’s all about the quality of the neighborhoods. Most people don’t want to spend 100% of their time when off work or school inside their homes.
Humans are social creatures who can truly thrive only when they maintain a sense of community and connectedness. Those who can afford it should make sure the home is located in a neighborhood that will provide not just luxurious amenities like golf courses and swimming pools but also a positive sense of personal involvement or connection. Master-planned communities are designed to do just that.
Invest In a Better Future
Looking for the perfect place to build both a home and a better life? Cedar Creek, located conveniently in the Kansas City metropolitan area, is a master-planned community known for its scenic beauty and impressive amenities. Visit the website or call (913) 829-6500 for more information.