5 Decisions to Make before Buying a Home

In the market for a new home but have no idea where to start? There are several decisions you should begin to make before you even start your home search.

See how your finances stand up. A financial adviser or your real estate agent also can help you crunch the numbers. Going through the mortgage pre-approval process lets you know how much lenders will allow you to borrow – plus it helps you show sellers that you have the funds to back up your offer.

What do you need in your new home? How many bedrooms or bathrooms do you need? What about a large kitchen, a home office or a playroom? It’s critically important to ensure the home you select meets your family and lifestyle needs.

Do you want a condo or single-family home? Condos come with much less maintenance but you’ll likely pay monthly association fees to cover services and repairs in the community.

What school district do you want to be near? Local schools will affect your property value. Prospective homebuyers tend to search with education in mind.

Should the home be move-in ready? Fixer-upper homes can be great after the work is done, but you’ll want to figure out your renovation budget before you start your home search. If you’re not ready for the extra financial commitment of rehabbing a home, or you don’t want to wait for remodeling projects to finish up, then a home that’s move-in ready might be right for you.