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It’s National Homeownership Month and we’re celebrating and encouraging the American Dream by providing you with valuable how-tos about the home buying and home owning process! Check out this week’s blog on managing stress as you look for your dream home. Know someone who would benefit from this article? Share on social or send it in a quick email.
Homebuying: Simple Steps to Stress Less
Buying a home is a life milestone and with that should come both excitement and a healthy amount of anxiousness. As you begin the search for your dream home, there are a few simple, proactive steps to can do to keep stress levels low. Although these may seem like no-brainers, taking the time and conscious effort to process through the first couple decisions will make the whole experience more pleasant.
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Choose a Real Estate Agent Carefully. Home buying is a big commitment on all fronts, financially, emotionally and physically. It’s crucial that you find a Realtor that is highly knowledgeable but also someone who also complements your personality. You’ll be rushing to closings after work, scheduling house shopping marathon on the weekends and up late waiting to hear back on offers, make sure your Realtor is someone you can speak openly with and one who can have fun and laugh along the way. Talk to friends and family for recommendations and also conduct interviews of your own.
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Come to terms with money. Decide what you can afford. Make an honest decision about what you can afford and remember you don’t have to have it all right away. You can save money by adding a little sweat equity; changing the paint, flooring and light fixtures can be done in time. Also it’s important to remember that even though owning a home is a good investment, you shouldn’t buy a house to just make money. Instead, it should about the having a place of your own, starting a new chapter and creating a life within the home.
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Be wary of too many opinions. It’s natural to want reassurance and input on perhaps one of the biggest decisions of your life, but too many opinions from people who might not fully understand your wants or needs in a home and lifestyle, will only complicate your decision process. Stay focused on the best interests of the people who will be living in the home.
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Plan Ahead: Mortgage + Home Warranty. Do a little work and get pre-approved for a mortgage and know your options for home insurance. When you make an offer on the house of your dreams, it will most likely will be contingent on your approval for a mortgage. Your offer might be less attractive to sellers than an offer from buyers with their ducks already in a row. Don’t be beat out for the home of your dreams because of a lack of planning.
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Make a List of Must-Haves that CAN’T BE CHANGED. We’re not talking about brand new appliances or fixtures, these things can easily be changed. You can not, however, move your house closer to your office or expand your backyard. Use this list as a firm filter to quickly narrow down houses. It sounds simple, but knowing your non-negotiables will help you avoid stressful conversations about that master bath with a 45 minute commute, and no garage. Just compare the house to your list of Must-Haves and you’re decision is made for you, no exhausting deliberation over if that master bathroom vs. proximity to conveniences. Remember to think outside of your Home. These aspects have greater impact on the lifestyle you are dreaming of than the physical details.
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Factor in Maintenance before You Buy. Even if you buy a new home, there will be costs. Talk with your Realtor about home improvements to consider how you can roll it into your mortgage loan to save money upfront. You don’t want to get yourself in a situation where you are unable to keep up with home maintenance.