Skip to main content

Your First Home: Step 4-Find Your Home

Can you say open house? I can. So many open houses! So many people walking through all of your potential houses! Before we figure out what houses to look at, we need to figure out what is important to find in your home. What do you value most?

1.      What do I want my neighborhood to be like? What do I want my home to be close to?

2.      How much space do I need? What do I need space for?

3.      What is most important-location or size?

4.      Would I be interested in a flipper Upper?

5.      How important is appreciation?

6.      How important is neighborhood stability?

7.      Would I be interested in a condo?

8.      Would I be interested in new home construction?

9.      What features do I need? What amenities do I want?

Features: Age, Style, Bedrooms, Bathrooms, Living and Dining Areas, Stories, Square Feet, Ceilings, Kitchen, Storage, Parking, Extras

Amenities: Office, Play Room, Exercise Room, Security System, Sprinkler, Workshop/Studio, In-law suite, fireplace, pool, hot tub, side walk, wooded lot, patio, laundry room,

-. *  What does your home need now, and what does it need potential for?

-   * Of all your wants and needs, which are the most important?

Once you give a list of what you value most in the house a good hard look, we turn that list into possible house matches. From here it is a three step process: Check out homes that match your criteria, write and negotiate an offer on the right home, and inspect the property before finalizing the deal. When you pick a home you want to view, typically your agent has previewed it and has a print out with all pertinent information. As you view multiple homes, keep notes on what you like and don’t like.

Now, lets assume you walk through a home you really really like-and can afford! It is time to prepare to make an offer on it. Join us for step 5 next week.

Orange, CA-TRREG DRE#01843673-RP100 DRE#02059058-P:714-831-1800-E:info@theresultsrealestategroup.com-W:www.theresultsrealestategroup.com-Facebook - Twitter - Instagram - LinkedIn
Reference: Your First Home by Gary Keller

Comments

Popular posts from this blog

Your First Home: Step 8-Protect Your Investment

Welcome to the world of home ownership, besides feeling like you signed your life away-how does it feel? You may find yourself feeling pride of ownership, because you now in fact own something. But with great power comes great responsibility-home maintenance. One of the best resources for you, even after the transaction, is going to be your real estate agent. Chances are, if you need a specific kind of vendor-they have one they trust and can refer you to. Home maintenance falls into two categories: Keep it clean and keep an eye on it. Review the maintenance needs for your home once you are settled in plan for regular service. If you notice something different, investigate it and fix it. A small problem not treated turns into a massively more expensive problem when ignored. Be sure to also read your home warranty, some of the repairs that come up may be covered. Also, have reserves set up for “Life Happens” situations. Finally, the most important part, Housewarming Party! Nothing w...

How I Learned to Stop Worrying and Love the Coronavirus

Greetings, Today I wanted to simply jot down some thoughts I had about this novel coronavirus (COVID-19) that the news cycle seems to love to talk about: - Will real estate values be affected? The answer is the same as every real estate question, it depends. I believe luxury will be impacted, I think more modest dwellings will not, and for a very simple reason, there is not more inventory and people have to live somewhere. - Is this our 1987 moment? In 1987 we had Black Monday, the biggest one day stock market drop in history, afterwards, real estate prices went up in a straight line for 18 months. Just like any good investor, when there is a shock to the system, you have to recalibrate, you either go to safety (or even relative safety, like houses versus paper ownership in a company), or you go to what has been undervalued. I suspect there is a good chance this is our 1987 moment for real estate. The 80's are dead, long live the 80's. - The drop in stock price...

Your First Home: Step 7-Close

We got through the home inspection, that was intense. What’s next? Why, title and appraisal of course! We are in the home stretch; you can do this. As the lender is finalizing the mortgage, they are doing a little bit more digging: appraisal to confirm the value, survey to confirm the boundaries, title to verify ownership, and title insurance. Appraisers will look at the home and comps to determine what they think the home is worth and relay this to you and the lender. The lender will only write a loan for the home’s appraised value, so if there is a difference between selling price and appraisal price-buyer and seller have to come together to cover the gap. Therefore, it is important to create a win-win situation, both parties have to work together at times. Survey is to determine where the homes boundaries are and are not. You would be surprised how many times a neighbor’s fence may be on your property due to boundaries of each property being forgotten over time and various homeo...