When shopping for single family homes for sale, there are probably a few things that you have already thought about such as the town, or the amount of bedrooms or baths. There are a number of other things you should think about, that you may not have before. See below for some tips to help you when you shop for your new home.
Shop Within Your Budget
When you were pre-approved, the amount you were pre-approved for may have surprised you. That's the high end of what you can afford based on how much money you make. This doesn't include the debt you have, so just because you're pre-approved for this amount doesn't mean this is the amount you can actually afford. Think about your monthly bills and what you have leftover, then come up with an amount that you can afford per month. The rule of thumb is that you can afford a mortgage that is twice what you make per year. Do not go over this amount, or you'll wind up in debt quickly.
Look For A Good School District
Shop for a home that is within a good school district. If you're still young, just because you don't have kids yet doesn't mean that you won't have kids later down the road. Also when you sell your house later, a potential buyer may have kids, so looking for a house with a good school district is a good idea. It can even add to the value of your home, so it's a win-win.
Have The Home Inspected
You may think you have a good eye when it comes to a new house, but there may be big problems you don't see. Things such as a sinking foundation, plumbing problems or a poor grading of the ground surrounding the house. These are things that can lead to expensive repairs, which you may not be able to afford. Don't purchase a house full of problems that you weren't aware of. Be sure to hire a home inspector to go over the house before you purchase.
Take A Good Look Around
Get in the car and take a look around the neighborhood. Look at houses nearby, look for the closest shopping center and how long it takes to get anywhere from your potential new home. You may have always wanted to live out in the middle of nowhere, but you may not like the drive it takes to get to the store or to get to work, or the road conditions when the weather changes. Be realistic about your surroundings and think about them before you make your decision.
Buying a new home is more than just looking at the exterior and finding a house in the right town. Take a realistic look at the house and the neighborhood before you make your decision, and get a professional inspector to look at the house. A realtor can be a big help when looking for a new house, so be sure to speak to your realtor about what you are looking for in a new home.