Owning a home is something that everyone aspires to, it is one of those life accomplishments that tops nearly everyone’s bucket list. Regardless of preference from modern urban lofts to traditional suburban homes complete with white picket fences. This purchase is ideally with the intent of habitation for the conceivable future, therefore the comfort of the family to secure their happiness needs to be taken into account. However, there is limited information on the factors that need to be adhered to in order to truly realize that dream. These are factors will not only guarantee that the home environment is tranquil but also contribute to the overall quality of life. Follow this guide to buying your dream home and you will certainly hit a home run!
Location
An important factor in influencing the value of property, buying a home in a suitable locale is usually a solid long term investment. Remember, that your property does not exist in isolation, it is part of a larger community that you will co exist with hereafter. Whether it’s a style of living or the actual aesthetic of your property, you want to make sure your home is one that you’ll feel proud to pull up to each day. Do you want to live within proximity to local amenities such as good schools, shopping center’s, health care facilities or are you more concerned with living in seclusion opting to bask in nature with decent roads and sanitation of course. Consequently, location encompasses a large portion of how a property will be evaluated and should be considered foremost before settling for a potential house.
Age and condition
When one is faced with buying a home, especially the home that they are expected to reside in for the rest of their lives, age certainly makes a difference. Regardless of whether a house is old or brand new they have their pro’s and cons. Some people prefer the irreplaceable charm offered by old homes than their newer counterparts. However, it is worth noting that older homes require a lot more attention (renovation). The condition of the property is a determining factor towards the price of the home. A property in great condition will be more favorably valued compared to a property that is in a less appealing state. The years since the property was built tend to also be of consideration when shaping the price, the older the property the more it has depreciated because of wear and tear. Since how a home looks is one of the first things that you (and others) notice about a property, finding a style of home that fits your personality is absolutely key. If you are like most people and dream of a closet sizeable enough to hold their wardrobe maybe even an updated master bath that feels like a spa, new construction may be a better fit. If you can get in on the ground floor, you may even be able to select certain features while the home is being built and mold it further to your tastes.
Size and Improvement
The yard space is often an afterthought when it comes to purchasing a property, but it should be in the forefront of buyers’ minds. It is the one thing about a property that cannot really be altered. The size of the property will determine how much the property will be priced, this is because more space requires more money. Buying a home that is too small for your family will leave you repeatedly trying to arrange the space to make it work for you. In the same vein, buying a property that is too large will allow you to spread out, but will wrack up large costs. The larger the size of the property, the higher the possibility that an owner could build their dream house on it, therefore the price will be determined per sqm. Therefore, make sure that your dream home addresses these questions; does the house have enough bedrooms or do multiple family members have to share? Is there enough storage for all of your belongings? is the back yard big enough for your kids to run around in? You should also consider your plans for the future. If you think you may be making an addition to your family sometime soon, plan for a little extra room.
Prices of similar properties
The valuation of properties will also be dependent on the prices of similar properties. Not all square footage is created equal though, which is where the floor plan comes into play. If you compare two properties that are 2,000 square feet, one could dedicate most of the space to the living area while the other could focus on more spacious bedrooms. Factors like dimensions (size), number of rooms and yard space of similar properties are all considered. It is important to note however that property size is also determined by the area in which the property is located. Fundamentally a house of similar size located in a peri-urban area as opposed to one in a more affluent neighborhood will undoubtedly fetch more on the property market.
In conclusion the factors listed above do not operate in isolation, therefore it is prudent that one strikes a careful balance of all the factors to truly gain value for money with regards to property investment. Everyone deserves to find their dream home. Use these important factors as points of consideration as you and your family begin the home buying process.