Tips to Finding the Perfect Home

Many home buyers head into the market looking for a home that has it all. All I can say to that is good luck! The only true way to find a home that has it all is to have it built yourself, and tailored to your exact specifications. For most people, it is more about finding a home that has most of what we need, and much less of what we don’t need. Here is a guide to help you navigate the home buying world.



The Four Cs of Home Buying



There is something that all home buyers have in common. They are all very emotional during the process, and many will cry, often directly in front of their agent. It isn’t hard to understand why, as this can be a stressful and highly emotional time for them. The sad part for home buyers is that no home will ever meet their full expectations, and the compromises they must make will linger in their memory for years to come.



When evaluating a house, few people are rational with their thinking. However, there is a way to be as rational as possible, and that is by dissecting the whole process into distinct parts. Much like those who purchase diamonds focus on cut, clarity, color and carats, home buyers can also break their task into four Cs: convenience, capacity, condition and cost.



Cost



There is one mistake that home buyers make most often. Too often when deciding if a home fits into their budget, a buyer looks at the list price and what their mortgage payments will be. In order to make a proper comparison, a buyer needs to take into account all the costs they will be facing. Things like insurance, utilities, maintenance costs and property taxes must all be factored in.



Condition



Unless you are purchasing a newly built home, you have to go into a deal expecting to have to perform a few upgrades. As long as the issues needing attention are not of a structural nature then it isn’t a major concern. However, costs for these upgrades must be taken into account.



Capacity



Often times, a buyer has to sacrifice a little size to fit a home into their budget. Once an agent realizes your budget constraints, they will attempt to put you into a "cozier" home. That is savvy real estate agent terminology, which basically means "small." Just remember that there is more to a home’s square footage than meets the eye. It boils down to how that footage is allocated. If a home has what you need, then it can feel a lot bigger than it actually is. Find out how many closets and bedrooms it has and go from there. If there is more than enough room for your needs, then there is nothing wrong with a cozy home.



Convenience



A big city offers great cultural and job opportunity, but that is usually attached to a high cost when it comes to real estate. You will get far more for your money if you look for something on the outskirts of a larger city. You will have to weigh all the factors. Will you miss the hustle and bustle? Will a longer commute be a big hassle? Will you see less of your friends and family?



Nick Muller | Kapital Investment Networking Group

www.king-and-assoc.com