There are lots of things to consider when you begin the process of buying a house. Here are six important factors that you need to think about. Once you have a clear idea of what you are looking for in a new property, the easier it will be to find your perfect home.
1. The Price of the House
First and foremost, you need to know how much you can afford to spend on a house purchase. So, once you have saved a down payment, you need to get preapproved for a mortgage loan. Your mortgage interest rate will be determined by factors like your credit score and debt-to-income ratio, but by comparing different insurers, you can find a good rate. Check out the current mortgage rates from MoneyWise.com, which are updated daily. Once you know the price range you can afford, you can begin searching for your ideal house.
2. The Condition of the House
If you have a flair for interior design and want to put your own stamp on the home you buy, it is worth looking at houses that have outdated decoration, as you may be able to buy at a cheaper price. You could even consider fixer-uppers that need a lot of work if you are DIY-proficient and want to save some money. Have a clear idea of how much work you are willing to do on your new house before you start searching to make the process and decision-making easier.
3. The House’s Location
Just as important as the house itself is its location. Make a list of the things you want and need to be in the local vicinity. That could include shops, schools, parks, gyms, and places of worship. You will also want to get a feel for the neighborhood and determine how safe it is.
4. The Number of Bedrooms
The more you know what you are looking for in your new house, the easier it will be to find. One of the most important things to consider is how many bedrooms you would like. If you have children, your decision will be based on how many you have and whether you are planning to have more. But whether you have children or not, you would probably ideally like a spare bedroom. Of course, the more bedrooms a property has, the more it usually costs, so work out how many bedrooms you actually need and how many you would ideally like. You can then compromise later down the line if you find a house that ticks all of your other boxes but has no spare bedroom.
5. The Size and Layout of the Kitchen
While you need to consider the size and layout of all the rooms, the size and layout of the kitchen will probably be the most important. Whether you want a large or small kitchen and what your preferred layout is will come down to how much you like to cook. If home-cooked meals are a big part of your home life, you will probably want a kitchen that has plenty of space, appliances, and surfaces as well as enough room for a family dining table. On the other hand, if you live by yourself or spend most of your time eating out, a small kitchen could suffice.
6. The Age of the House
Some people prefer old houses. Others prefer newbuilds. Many people are willing to consider either and everything in between. By knowing which architectural style you like and whether you would prefer living in a modern or old property, you can narrow down your search and find the perfect house much more easily.