How to Find Your Dream Home in 4 Steps
Home shopping is notoriously stressful. So many homes to see, so much paperwork to do. But we’re here to tell you it’s much easier when you have a strategy in place. Before you attend open houses to find your dream home, here’s how to determine what you actually want and need in a home before settling.
How to Find Your Dream Home
1. Get a full view of your financials
2. Take your future into consideration
3. Figure out what type of home and location you prefer
4. Go shopping
Get a Full View of Your Financials
The first and probably the most important step is to get a closer look at your financial situation. While it’s not as exciting as designing your future bedroom, it’s essential. These are the four main factors you need to look at: your debt, your income, your credit score, and your savings.
Recommended read: Should I Wait to Buy a House? 3 Things to Consider Before Committing
We also recommend that you get a solid pre-approval letter so you have an accurate picture of what you can afford. Once you’ve taken a look at these factors, get clear on:
An affordable price range (remember to include closing costs in this equation)
Your budget for repairs and renovations
Take Your Future into Consideration
Before you jump into home shopping, first consider what you absolutely need in a home. What are the things you’re not willing to negotiate on? This can include:
Accessible walkways
Enough space for your vehicle
Close walking distance to schools
No staircases
Then consider what you’ll need in the future:
If you plan to have children, will you need a nursery space?
Do you plan to adopt pets that require a fence or lots of yard space?
Will you still be able to afford your mortgage if you change jobs?
Figure Out What Type of Home and Location You Prefer
What style of home are you looking for? While this can include architectural styles and flooring material, you also want to consider these questions:
Do you want a one-story home? Two stories? More?
How many bedrooms and bathrooms do you need?
Are you OK with extensive yardwork or do you tend to avoid it?
Take renovations into account. You might enjoy the feel of an older home but forget about the repairs that often come with an older house.
What type of location do you want to live in? Are you into the hustle and bustle of downtown areas? Or do you prefer a quiet suburban space? Remember that neighborhoods can differ greatly, even in the same location. Get a feel for the neighborhood, both in the daytime and evening.
Take the Next Step: Go Shopping
Now comes the most exciting part. Your next step is to go find your dream home using this criteria. Be sure to take notes at all of your open houses and showings. Note what you did and didn’t like in a home, or what criteria it didn’t meet. Remember to prioritize criteria and be flexible—you’ll get the keys to your new house in no time!