During the hunt for your first home, you likely have a lot of wants and needs, and a whole lot of things on your mind. But how can you focus your search to ensure that the house you buy is the right home for you? Read on to discover a few little-known things to consider during your house hunt so you can make the right decision.
Location, Location, Location
When you buy a home, you’re not just buying the building—you are buying a place in the neighborhood around it, too. Before you buy, make sure to think about what kind of community you want to be a part of. Consider your lifestyle when making this decision. If you have a family, or plan to in the future, looking at schools and parks in the area might be a good idea. If you have pets, access to dog parks and veterinary care might be at the top of your list, and if you have health concerns, proximity to health care systems and doctors might be one of your top priorities. When starting your house hunt, it’s a good idea to begin with a community or neighborhood that fits your needs and find a home from there.
Consider Your Commute
During a home search, most homeowners consider all the time they will be spending inside their home, but fail to think about how much time they will spend getting to work from there. If you work away from home, consider the commute from your new home to your job. Most people in the workforce commute five days per week or more, so make sure that your home affords you a commute that you can live with for years to come. If you work from home, consider living somewhere close to areas you frequent, from supply stores to client meeting places. Just because you don’t travel to an office everyday doesn’t mean you don’t travel for work.
Think About Space, Not Just Number of Rooms
Most real estate listings will tell you right away how many bedrooms and bathrooms a home has, but that isn’t all you should consider when choosing the right home for you. The number of rooms in a home doesn’t always say much about the space itself. For example, if you have three kids, you might think that you need a four-bedroom home, but if a four-bedroom home offers tiny bedrooms while a three-bedroom home offers more spacious rooms, you might want to reconsider. However, if you also work from home or have family that likes to stay with you, you may need an extra bedroom to accommodate your needs. Or, you may find a home that is the perfect size, but not the perfect layout. If you find a home with the right number of bedrooms but it is a two-story and you are close to retirement, you might want to rethink your priorities. You may be better suited to a smaller number of rooms in a ranch home where you can age in place and not have to worry about perilous stairs. Before you buy, think about how you will use your space, not just about how much of it you will have.
Take Note of the Noise
Noise concerns aren’t just for condo or townhome buyers—they are an issue for those seeking detached homes as well! If you like to entertain large groups at your home until late in the night, your new neighbors in a sleepy, kid-friendly neighborhood may not be your biggest fans. On the other hand, if you like to go to sleep early on the weekends but you choose to live in a neighborhood with a healthy nightlife, you might not like living in your home for very long. To get an idea of the noise levels of the neighborhood, talk to your real estate agent about doing showings at odd times, like evenings or early mornings. Then, drive by the house and through the neighborhood at different times of day to see what the activity and noise levels are like. This extra step can help make sure the home you choose will be comfortable for you for the long term.
Growth Potential
One thing that many homebuyers fail to consider during a house hunt is their home priorities now might not be on the top of the list in the future. Since a house is a long-term investment, it is important for buyers today to understand what they might need as owners tomorrow. When looking for a home to make your own, think about what you and your family might need five, 10 and even 15 years from now. Consider changes in family size, your needs and even your wants. Ask yourself these questions:
- Can this home accommodate my family if it grows in size?
- Will I be able to financially afford to maintain and even update this home in the future?
- If my needs change, can I change this home to suit my new needs?
If the answer to those three questions is yes, the home likely has great growth potential. If you answered no to any of them, you may want to rethink making it your own.
Buying a home is a long and complex process, but knowing what you need can help make the process easier. Check out all of the other ways the NC Housing Finance Agency can help make home buying easier and more affordable for you at www.nchfa.com/home-buyers.
