Dos and Don’ts of Buying Your Dream House

Dos and Don’ts of Buying Your Dream House

Most of us have at least once thought about how our dream home would look like and some are now actively looking for it as we speak. If you have started your own dream home search and you feel like you could use some pointers or you plan on getting there soon, you have reached the right spot. We are going to introduce you to a few of the most effective pros and cons of buying the house of your dreams, no matter if it is a Tudor, Victorian or Gothic home you are looking for. Since this will most likely be your most important purchase, you should make sure that you have pondered all the factors properly.

Decide On the Aesthetics of Your Dream Home

Think real hard about the type of house you want to buy but try to keep your feet on the ground. There is no point in picturing a house that is way out of your league. Keep your head on your shoulders and be as realistic as you can be. Your budget will only allow you to afford a certain type and size of a house with certain amenities. Think hard about how you would like them to look like. For instance, establish the minimum number of bedrooms and bathrooms you would like to have. Are you more interested in a house, an apartment, or a condominium? Take a look at the available listings that match your search criteria and make sure you select the neighborhoods, cities, and areas you would like to live in. Try to envision yourself sitting on the patio of your new home playing your favorite games of slots at or chilling with your loved ones, watching the sunset. This should help you figure out what is the best type and location of your dream home. Would you like to have a pool in the backyard overlooking the patio? Would you like a small garden or a park where you can walk the dog nearby? Finding the answers to the questions that are most relevant to you is going to be more helpful than you might imagine.

Decide the Limits of Your Budget

Some people might argue that the budget is the most important element to consider when shopping for a dream house, as it will determine exactly how much home you will be able to afford. Take advantage of the listings you can find online for similar homes that match your requirements and start making some comparisons. Luckily, there are plenty of sites that will allow you to select several properties and automatically compare their prices for you, so you can keep your efforts to a minimum.

dream houseOnce you have decided upon the budget for your new home, stick to it and write down estimates for the furniture, extra amenities, decorations, and the maintenance costs that you will also need to cover. Make sure you carefully review all these essential details related to the location of the house, the size you can afford, the size of the budget and the money you will need to borrow, any extra expenses you will need to pay for, including all the paperwork and include details such as the need to commute to work every day, drop the kids off to school and so on.

Usually, close to 45 percent of people searching for their dream home will come across it online, while 33 percent will buy it via a real estate agent. It is a good idea to work with a reliable realtor that will not only make your mission a lot easier but will also help smoothen the pre-inspection and possibly find you a better deal than what you could come across on your own.

Not Getting Pre-Approved Is A Mistake To Be Avoided

Meet with a realtor first and get in touch with a bank that can lend you the money soon afterward. Do it before you start your search for your dream home. It is a good strategy in the long term as getting approval for a mortgage will let you know just how much you can expect to afford to pay for your new home. Keep in mind that their pre-approval letter is not a guarantee of how much money you will actually receive, but it will rather show you the potential amount. A realtor will next ask for the pre-approval letter in order to see if you already have a price range in mind and on paper. Plus, the person selling your dream home will also ask for the same pre-approval letter since it is a powerful indicator of the fact that you getting the mortgage to buy the home.

Chris Anderson