Before, any potential, qualified, home buyer, decides, to purchase, any, specific, house and property, he should, carefully, consider, why he chooses this one, and whether, it is the right one, for him, etc! After, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I believe, an individual, should, not only, consider, whether, merely, buying a home, is right, for him, according to the general rules, etc, including, affordability, etc, but, it is wise, to consider, fully, these 6 things, before, purchasing, any, specific one. With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 6 things, which should be fully considered, and examined.
1. Does it fit your present needs?: Why, and how, does it fit your present, existing needs? Is the combination of location, schools, safety, affordability, and the specific house’s features, strengths and weaknesses, make sense, for you? How many bedrooms do you believe you need, and want? Are you considering the specific property, as a starter – home, or for a much longer period? Can you, comfortably, happily, etc, move – right – in, or what would you immediately, do? How are the, bones – of – the – house? It is usually, wise to walk – around, the block, and local area, in order to gauge, whether, you might like, living there?
2. Can you afford the down – payment, and Closing Costs?: Lending institutions use several metrics, to consider, whether you qualify for a mortgage, and, for, how much! However, it also matters, what you are comfortable with, as well as your preparation, for potential contingencies, etc! Beware, this is essential, to know, from the onset, but, far – from, the only knowledge, you might need, to determine, whether, it’s right, for – you!
3. Meets foreseeable, future requirements: Unless, you are, only buying this property, for the very – short – term, it is wise to consider, whether, the house, and other factors, meets, and hopefully, exceeds, future requirements, needs, and priorities!
4. Can you comfortably, afford monthly payments, etc?: For most buyers, mortgages, are, necessary, to buy! Be certain you feel comfortable, with the monthly payments, and installments, which include: mortgage interest and principal; real estate taxes; insurance; utilities; reserve for repairs; reserve for renovations and upgrades; etc!
5. Will you enjoy this area/ neighborhood?: What are you looking for, in an area, and is this specific house, in such an area? Consider, factors, such as: safety; education/ schools; neighbors; conveniences; and anything, which might be important to you, at – present, and in the linger – run!
6. Consider your personal comfort zone?: Each of us, have different comfort zones, so it is important to consider, whether, the specific property, fits, into yours, etc!
These 6 things, are, only some of the factors, for a potential home buyer, to consider, before purchasing, what, to most, is their single – biggest, financial assets! Act wisely, to ensure, you’re seeking the American Dream, does not become a personal nightmare!