Starting the Search for Your Dream Home? Here Are 5 Tips!

In today’s real estate market, low inventory dominates theconversation in many areas of the country. It can often befrustrating to be a first-time homebuyer if you aren’tprepared.

In a realtor.com article entitled, “How to FindYour Dream Home—Without Losing YourMind,” the author highlights some steps thatfirst-time homebuyers can take to help carry their excitement ofbuying a home throughout the whole process.

1. Get Pre-Approved for a Mortgage Before You StartYour Search

One way to show you are serious about buying your dream home isto get pre-qualified or pre-approved for amortgage before starting your search. Even if you are in amarket that is not as competitive, understanding your budget willgive you the confidence of knowing whether or not your dream homeis within your reach.

This step will also help you narrow your search based on yourbudget and won’t leave you disappointed if the home you tour,and love, ends up being outside your budget!

2. Know the Difference Between Your‘Must-Haves’ and‘Would-Like-To-Haves’

Do you really need that farmhouse sink in the kitchen to behappy with your home choice? Would a two-car garage be aconvenience or a necessity? Could the ‘man cave’ ofyour dreams be a future renovation project instead of amake-or-break right now?

Before you start your search, list all the features of a homeyou would like and then qualify themas ‘must-haves’, ‘should-haves’,or ‘absolute-wish list’ items. Thiswill help keep you focused on what’smost important.

3. Research and Choose a Neighborhood You Want to LiveIn

Every neighborhood has its own charm. Before you commit to ahome based solely on the house itself, the article suggeststest-driving the area. Make sure that the area meets your needsfor “amenities, commute, school district, etc. andthen spend a weekend exploring before you commit.”

4. Pick a House Style You Love and Stick toIt

Evaluate your family’s needs and settle on a style of home that would best servethose needs. Just because you’ve narrowed your search to azip code, doesn’t mean that you need to tour every listing inthat zip code.

An example from the article says, “if you haveseveral younger kids and don’t want your bedroom on adifferent level, steer clear of Cape Cod–style homes, whichtypically feature two or more bedrooms on the upper level and themaster on the main.”

5. Document Your Home Visits

Once you start touring homes, the features of each individualhome will start to blur together. The article suggests keeping yourcamera handy to document what you love and don’t love abouteach property you visit.

Making notes on the listing sheet as you tour the property willalso help you remember what the photos mean, or what you werefeeling while touring the home.

Bottom Line