A house will probably be the biggest financial decision you make in your life—but it’s more than that. When you buy/sell a home, you’re making many decisions that will affect how you live for several years. That’s why it’s important to consult a real estate professional for advice as you prepare to buy/sell a home.
Before you make the move to buy/sell a home, you need to do some research to make sure you make the best decision for yourself.
Know how much house you can afford
Most real estate experts will advise you to get pre-approved for a mortgage before you start looking for houses. Visit your preferred financial institution to find out how much they’ll lend you for a house.
Remember that your monthly mortgage payments will not be your only cost when you decide to buy/sell a home. There also will be:
- property tax
- utilities including water, sewer, electricity, heating (oil, gas or electric), telephone, etc.
- home maintenance and repairs
- telephone and Internet
Your financial institution will pre-approve you for a mortgage taking into account your income and debts. Your total housing costs, including mortgage, taxes, utilities and maintenance, should be no more than 25 percent of your gross monthly income.
Know your needs
You’ve heard it before: the three most important things about real estate are location, location and location. That’s a starting point when you buy/sell a home.
If you’re a young family, you’ll probably want to be near schools, parks, recreation and other family members.
If you commute to work, you will need easy access to transportation, whether public transit or highways.
Find out about other factors that depend on location, such as water and sewer connections, and telephone and Internet access. You might be surprised by areas that require a septic system or rely on dial-up Internet.
How much space do you need?
Once you’ve decided on a location that meets your needs, look at what you need in a house. If you want all family members to have their own bedroom, tell your real estate agent to look for that factor as you prepare to buy/sell a home.
If one family member has mobility issues or trouble climbing stairs, you might want to opt for a bungalow. Or you might look for an in-law apartment for family members who need their own separate living space.
If you have a home-based business, look for houses with a study or other space for an office, as well as adequate storage space.
Start with the floor plan
Are the various rooms big enough for your needs? Is there a flow from room to room that works for you?
Look for the options or features that will have an impact on your daily life, such as where the laundry room is located, where the back door is positioned and whether there is a mud room for the kids to come in through. Do you want an open-concept kitchen and family room, or do you prefer these to be separate?
Families with young children usually want all the bedrooms on the same level. At the same time, those with teenage children might appreciate a master bedroom separate from the rest.
Make sure the garage is adequate for your vehicles. The garage door should lead to the back entrance, not the front.
Inspect before you buy
When you finally find the perfect house, your dream home, check carefully. Are the window frames wooden, aluminum or vinyl? Is the heating, ventilation and air-conditioning system adequate? What about the wiring?
Look for water stains on ceilings, windows and walls, which can be signs of leaks. Cracks in the basement floor and foundations are more red flags.
Although you can check a lot of features yourself, don’t neglect to get an inspection by a qualified professional, who has the know-how and the experience to look for myriad potential problems before you buy/sell a home. You can and should make your offer to purchase conditional on the home inspection.
Get professional help
Before you buy/sell a home in Herriman Utah, call a real estate professional for advice and tips—that won’t cost you a cent. The team at Daybreak Living is happy to assist you in your search.
Utah Dave - Daybreak Neighboorhood Expert and Local Resident