Did you know that one of the hardest things about buying a new home is deciding where to settle? In this video, I’m going to outline an exercise I use to help my clients decide where and what type of property they should purchase. I’ll show you how using this process of elimination will help you find the house of your dreams.
Deciding Where To Buy
There are so many things to consider and research when it comes to deciding where to buy your house that it can become overwhelming. Do you need to be near work? How are the schools? How much house can you get for your budget? These and more questions will likely be on your mind.
When you’re buying a new house, though, it’s nothing more than the process of elimination based on the strengths and weaknesses of your needs and wants. We are going to use that logic to narrow down what’s most important to you.
Narrow Down Your Search
Ultimately, there are three things that you should consider when looking at new houses. First, what do you want your ideal monthly payment to be? Second, how important is the location to you? And third, what kind of features or amenities do you absolutely need in a new home—such as the size, number of bedrooms and bathrooms, layout, or style?
Before you get started, it’s really important to understand that it can be quite difficult for a homebuyer to find every single thing that is on their needs and wants list in their new home. The goal of this exercise is to weigh what’s most important to you so you can separate your needs and your wants.
Weighing Your Budget
The three areas to consider are price, location, and amenities. We’ll rate these in the order of importance to you. For example, let’s say you find a great house in the perfect neighborhood—but the interior isn’t as updated as you’d like. Or what if you went over your budget by $20,000, but you got the house of your dreams in the perfect location?
What if you stayed under budget and got everything that you wanted in the house, but it wasn’t quite in the right location? First, you need to ask yourself how important price is to you. Do you absolutely need to stay under a certain budget? Your answer is likely important and can help narrow down areas that are within your budget.
Location And Amenities
The next question is, how important is the location to you? Can you sacrifice a great location for the perfect house? Consider situations such as school districts for your children or how long your commute might be for work.
The last question to ask yourself is what amenities you absolutely need in your new home. Do you need to have that fourth bedroom or office space? Is having an upgraded kitchen necessary? Do you need extra storage space, such as a garage?
Listing out your needs and wants can help you narrow down potential homes so you can begin searching. I’m going to warn you that a lot of people end up buying a home that is opposite of what they thought they initially wanted. A good real estate agent will help guide you as you identify your wants and needs concerning price, location, and amenities. Then, ultimately, they’ll find you the perfect home.
Finding Your Dream Home
I hope this video will help you narrow down your search to find your next home. If you ever want to run through these questions with a professional like me, I’m here to help. Feel free to reach out to me and I’ll be happy to connect with you!
Don’t forget to subscribe to my channel for more information on the real estate market in the Portland, Oregon area. Stay tuned to see what I feature on the next episode!