Location, Location, Location
You may have heard from many real estate brokers that the location of your new home is it is important to think about, and, in many ways, it's accurate. You don't want to buy a home that's too much away from your job just because it's cheaper. If you really like the hubbub of city living, your search will be different than looking within the suburbs or a quiet, rural area. The fact of the matter is which you may have to pay more for a smaller house inside a location you really like, if location is important for you. Houses closer to the city or to a downtown area in many cases are smaller, older and more expensive than houses in non-urban areas. If you need to be near a downtown area for the job, or if you enjoy all the amenities which location offers, you might have to resign yourself to purchasing a house that isn't quite as big or cheap while you expected. Similarly, houses that are on busy streets could be cheaper, but that positioning isn't always ideal, either. Think about backing your car from your driveway onto a busy street in the morning prior to work. Also, think about any children or pets you've or plan to have. You wouldn't want them playing outside on the busy street!
Size Matters
When we look for property, many times we look for the biggest piece of property we can find for the least amount of cash. This might be a good idea if you want a large house, but you should definitely think about what type of space you need before you buy. If you're not planning on having children or you're only planning on having a couple of, a four or five bedroom house is probably unneeded. However, if you are planning on having children, two bedrooms is probably not enough. Before you make a move and buy the biggest house you will get, be sure to consider what you want out in your life. You might also want to consider resale value. Two bedroom homes are more difficult to sell than 3 or 4 bedroom homes because your pool of potential buyers is actually smaller. People looking for two bedroom homes are often retirees seeking to downsize. People looking for three or four bedroom homes might be first time buyers, families looking for a bigger room, or young professionals looking to rehab a house.
Cash Talks
It is vitally important to have your finances in order even before you begin to view houses. It helps to be pre-approved for any mortgage with a credit agency, because then you understand what you can spend. This also speeds up the procedure for putting an offer on a house. It is also recommended that you simply put between 10% and 20% down on the home, so you need to have that money readily obtainable. Don't forget to incorporate inspection fees, association fees, shutting costs, and taxes into your budget. These can often creep on you when buying a house, so you don't desire to be caught off guard with hidden costs.