Searching for a new home is an exciting time. Choosing the right home is essential to creating the lifestyle you have envisioned. What factors should you be considering when you are looking at houses? You can use these five factors as guidelines to help you with your home search.
Affordability
If you ask a real estate agent what sells homes, you will hear things like “location”, but the fact is people will move out of one location to another for the right price. The moving industry in the U.S. is booming because people learn that sometimes you have to get out of your comfort zone to find a house that you can afford. According to IBIS, they value the moving industry at about $18 billion.
Affordability is a key factor in home-buying decisions. No one wants to be “house rich” anymore. Most buyers are looking for balance in their lives and prefer to buy an affordable house that fits their budget rather than going out on a limb for a more expensive house.
Amenities
One factor that most buyers are considering when they are searching for a new home is the amenities that the home offers. We are not talking about whether the house has a hot tub or a pool. We are talking about simple lifestyle amenities, like whether the home has a garage.
80% of buyers consider a garage a factor when buying a home according to the REA. 45% of homeowners use their garage door as their primary entry point into their home according to the Door and Access Systems Manufacturers Association. For most homebuyers, having a garage is a very important factor.
Condition of The Major System
When you are buying a home, there are certain systems in the home that play a very important factor. Some systems that should be considered are the roof system, the HVAC system, the water heating system, plumbing, and electrical. These systems are the infrastructure of the home and can be very costly to repair or replace.
Many homebuyers prefer homes that have relatively new systems. The age of the home plays a role in how reliable the systems will be. For example, a home that is 20 years old or older is likely to need a new roof soon. It will probably have more issues with the HVAC system, and the water heater may be on the way out. Infrastructure factors are very important factors in making a buying decision.
Property Surrounding the Home
Many homebuyers consider landscaping a factor in their home choice. How well the property is maintained around the house is important for many home buyers. Mature plants, trees, and a well-maintained lawn are often favored because it reduces the amount of work the buyer will have to put into outdoor spaces.
Another factor that homebuyers consider for the property that a house is built on is how much property there is. Some homebuyers are looking for large lots with plenty of space. Other homebuyers do not want a lot of land surrounding the house to take care of.
Type of House
Everyone sees when they are thinking about what type of home their ideal home is. Architectural details, number of bedrooms, number of bathrooms, and living spaces are all factors homebuyers typically consider. Are you interested in a single-story ranch-style home? Do you want a multi-level single-family home or would an attached townhome be a good fit? These are some questions that most homebuyers consider.
There is the ideal house out there waiting for you. Some factors on this list will matter to you, while others may not matter at all. Consult with a licensed agent to learn more about the factors you should consider when buying a home.
