There are several exciting parts of the homebuying process that you may be looking forward, and perhaps the single most common is taking home tours. The process of viewing the homes available on the market and determining which might be a great fit for you can be very exciting -- and it's also a time where you should be diligent and detailed.
At Supreme Lending, let us serve all your mortgage needs during your home purchase while you get to searching for your dream home. What are the top considerations you should be considering as you're touring any home for sale? Here's an overview.
Basic Costs
While it may seem simple, one of the first elements you'll want to consider during home tours is what the basic costs of a property will be. This includes not just the sale price, but also taxes, insurance, and any Homeowners Association (HOA) dues that will need to be paid on an ongoing basis.
It's important to have a realistic understanding of these figures before making an offer on a home, as they can have a significant impact on your monthly budget. If you enter into an agreement on a home that has higher costs than you're prepared to handle, it could cause problems down the road.
The Physical Layout
Of course, you'll also want to be mindful of the physical layout of any home tour. This includes everything from the size and number of bedrooms and bathrooms to more specific elements like closet space, storage options, and potential for expansion.
Ideally, you'll want to find a home that will comfortably accommodate your current needs with plenty of room to grow. That way, you can avoid the need to move again in the near future and enjoy your new home for many years to come.
Amenities and Features
Don't forget to consider all the different home amenities and features. This can range from simple things like the type of appliances that are included to larger elements like a pool, hot tub, or other outdoor recreation space.
In some cases, you may even be able to negotiate the inclusion or exclusion of certain amenities as part of your purchase agreement. So, if there's something you really want (or don't want) in a home, be sure to bring it up during negotiations.
Appliance Quality
As you're touring a home, it's also important to pay attention to the quality of any appliances that will be included in the sale. For example, newer homes may come with higher-quality appliances than older properties.
This can have a big impact on your ongoing costs, as lower-quality appliances are often less energy-efficient and may require more repairs over time. Even if you're not planning to move into a home immediately, it's still worth considering the quality of appliances when making your purchase.
Remodeling Considerations
You may want to be looking for any elements or rooms in the home that you'd consider remodeling, plus any issues that might need to be addressed with any existing renovations.
This can help you get a better sense of the potential costs associated with a given property and whether those costs fit into your overall budget for the purchase. In some cases, you may even be able to negotiate a lower purchase price based if specific remodeling is required.
Home Location and Neighborhood
Location, location, location! It's vital to consider the location and neighborhood of any home you tour as well. This can have a big impact on everything from your quality of life to your resale value down the road.
For example, if you're looking for a family-friendly neighborhood with good schools, that's going to narrow your search considerably. Alternatively, if you're looking for a home near nightlife and other entertainment options, that will also help focus your search.
No matter what your priorities are, it's important to make sure they're reflected in the homes you tour so that you can find the perfect fit for your needs.
HVAC Unit and Connections
While you obviously can't bring in an HVAC technician to inspect the home during a standard tour, there are still some things you can look for to get a sense of the condition of the HVAC unit and its connections.
For example, you should check to see if there's any visible damage to the exterior of the unit and make sure all the different vents are clear and unobstructed. You can also ask the homeowner or agent when the unit was last serviced to get a sense of its general condition.
Considering the Future
As mentioned, you'll want to make sure any home you tour has the potential to comfortably accommodate your needs both now and in the future.
Many homebuyers make the mistake of assuming they'll only need a certain amount of space or will be able to easily remodel a given room to better suit their needs. However, these things are often easier said than done.
Instead, try to envision your needs both now and five or 10 years down the road. This will help you find a home that can comfortably accommodate you for the long haul.
When you’re ready to start the homebuying process, contact Supreme Lending for your mortgage needs and to get pre-qualified for a home loan.