11 Factors to Consider When Home Shopping

11 Factors to Consider When Home Shopping

Did you know that more than 63% of millennials in the United States have some regrets about their first home purchase? 

Buying a home is a big decision and having regrets can lead to depression and a lack of confidence.

If you want to start on the right foot at your new home, you need to ensure that you get the right place. 

Continue reading to learn about the most important home shopping factors that will get you into your dream house! 

1. Your Budget 

One of the most critical factors to consider while home shopping is your budget. 

Your credit score, bank account, and career can help you build a housing budget. This budget should be realistic, have room for error, and get monitored. Setting a budget before looking will prevent you from getting your hopes up about unrealistic places.

Agents and online sites can help you determine a monthly payment, but this is dependent on a few factors. Think about how much you can afford to pay monthly on your home and compare mortgage payment options. 

If you are having a hard time finding a place in your budget near work or school, look outside of the cities. 

2. Ideal Location 

A real estate agent can help you find the ideal home in an area convenient for your family. 

Most people move towards their jobs so that the commute isn’t as long. It’s also a good idea to live near your children’s schools so that they don’t have a long drive and they can get a good education. 

Depending on your preferences, you might want to look for a place in the city or suburbs. Think about the neighborhood that you want to live in and if there is anywhere specific that you should be near. 

If you don’t have any restrictions and WFH, don’t be afraid to make the leap and explore a new state! 

3. Home Projects

Let’s face it, not all houses on the market are ready to move into and many need help.

When you go house shopping, take a look at the things you will want to change after moving in. When you get serious about a home, start writing down the projects. This list will help you determine the additional costs you will need to spend after getting the house and your timeline. 

Keep in mind that once you move in, you will likely come across other things that need to get fixed. If you have a home with a long list of projects, you may want to hold off and look for a better option. 

Last year, around 60% of people in the United States were planning to do home improvements. This is largely due to the booming housing market of people buying and selling.

4. Timeline for Moving

Are you getting a new house because of a new job, school, or just because you can? 

The reason for your move will likely impact your timeline for moving. Many people put their houses on the market in the spring, for example, so that their kids can switch schools before the next year begins. When you get a timeline, make sure that you discuss it will your real estate agent. 

Timelines and goals are essential for moving. Without them, people find themselves packing until the last minute and get overwhelmed. If you are moving across several states, you need to plan with plenty of time in advance to organize all of the details. 

5. Floorplan 

There are several reasons to consider the floorplan of a house when making a purchase.

If you or someone in the family has trouble getting around, a ranch is recommended. Two-story homes are best for growing families and groups of friends. The floorplan will tell you where each of the rooms is and will influence your daily routine.

Try to find a home with a floor plan that suits your lifestyle. Depending on the architecture and style of the home, you might have custom rooms, basements, and attics. 

6. The Yard

Curb appeal is often the first thing people notice when they pull up to a house.

When you are hunting for a home, take a look at the yard and try to imagine your family in it. Consider all of the outdoor activities you enjoy and determine if the yard will allow for it.

Many people look for homes with fencing, especially if they have pets or children. It’s best to find homes with low-maintenance yards too, this ensures that you won’t spend hours or a fortune on yard work. 

If you are looking for special amenities, like a pool, pond, or garden area, keep this in mind during tours. Even if the home doesn’t already have these areas, you might be able to add them. 

7. House Size

Although your budget might have a great say in how much you can afford you should still consider the house size.

If you have a growing family and there are only 2 bedrooms in the house, you might want to look for something larger. Some of the things to take into consideration with the size are the number of rooms, bathrooms, and storage space. 

Smaller houses are typically most affordable, but in highly populated areas, these homes can still cost a lot. It’s best to look outside of city-limit lines if you need a larger and more affordable home. 

8. Condition of the Roof

If you see a house on the market and it hasn’t been bought in a long time, but nothing seems wrong, look at the roof.

Getting a new roof is an expensive project that most homeowners want to avoid after buying a home. Unless you get a great deal on a house, look for one with a roof in fairly good condition. Missing shingles and damaged rooftops can indicate larger problems like water damage. 

When you narrow down your options for a house, have a home inspector take a look at the roof. They can help you determine how much longer it will last and the additional money that you’ll need to take out for your mortgage. 

9. Work Spaces

With more and more people working from home, there are more house options with offices and libraries.

Having an office in the house is nice if you run a business or work from home. Even if you don’t use it often, it can be a great place for kids to read and get homework done. Whether you want a small nook or a large room, workspaces are becoming more common features that people want in homes.

Think about your career and hobbies to determine if this is a necessity.

10. Heating & Cooling

Most people don’t think about AC or heating during tours, which is why you need to add them to your list. 

When you find a home, review the heating and cooling system that’s been installed. Older homes might not have either, which can be uncomfortable during the winter or summer months. A furnace or boiler is common but some homes still run with a baseboard heater. 

Central air-conditioning is a feature that you’ll likely want to have. If your ideal home doesn’t have it, make sure you quote the cost of installation. 

11. Garage Space

Do you have a lot of vehicles or need additional storage space?

Garages aren’t included with all homes, but others come with several spots to park your cars. Think about the items you need to store in the garage. If you are moving from an apartment to a house, don’t forget that you’ll need to buy a lot of equipment or hire someone for maintenance. 

It’s important to have a garage if you live somewhere that gets snow or hail. The garage can protect your vehicles and provide extra storage space. You might want to search for a home with a finished garage if you plan to spend a lot of time in there once you move. 

What Do You Consider While Home Shopping? 

When it comes to home shopping, there are a lot of factors to consider.

Not only will the move affect you, but your entire family. Keeping your timeline and budget in mind will get you on the right track, but you should also consider the location. If you want to get the most for your money, don’t forget to consider the home projects that’ll need to get done. 

Have fun while shopping and follow your instincts so that you don’t have any regrets. 

Be sure to check out our site for more information about shopping for a house and finding your dream home!