Buying a home is one of the most important things that you’ll ever do. Indeed, buying a home is an investment and not just a monetary one; when you buy a home, you’re choosing the place where your children will grow up, the location where memories will be made, the community and neighbors that you’ll maintain for years to come, and more.
Buying a home is exciting, but it’s also a big decision that shouldn’t be taken lightly. As you search for your dream home, here are important factors to consider before you buy–
Do you have or plan to have children? If so, the school system that your children will attend will no doubt be one of your top considerations when choosing a neighborhood. But, also consider that a neighborhood is about more than just quality schools; it’s also about having people around you that share similar values and lifestyles. If you’re young, you may not want to live in a neighborhood where all of your neighbors are retired with adult children and vice versa.
Perhaps the most limiting factor when you think about where you may want to live in the future will be how much you have to spend on a new home. In addition to your down payment, how much home can you afford on a monthly or annual basis? Be sure to factor in any maintenance costs, as well as taxes.
Older homes definitely can be charming; however, older homes typically require more care, which means more costs over time. Think about how much time and money you want to commit to your home. If you’re a DIY type of person who loves home improvement projects, then an older home may be right up your alley. On the other hand, if you’ll be working long hours and dread the idea of spending your weekends doing home renovations, then a newer home may be more well-suited for you.
How much home do you need? Is your family as full as it’s going to be, or do you plan on expanding your family in the future? Are you happy with the kids sharing a bedroom, or do you want everyone to have their own space? What about the size of your yard? Have you always dreamed of having a big garden, or installing a large outdoor patio? Keep these things in mind as you search for the home of your dreams.
Finally, be aware of any trade-offs you’re making and where you’re okay to compromise. What’s more important to you: lot size or age of your home, school system or home square footage? Know what you’re willing to let go of–and what’s an absolute must–as you embark on the search for your home.
At The Jana Caudill Team, our experienced Indiana real estate agents can help. Connect with us today to learn more about working with us, and to start the search for your ideal home today.