Have you been imagining your dream home and are ready to get out of the rental game? Buying the home you’ve always dreamed about is one of those life accomplishments that tops everyone’s bucket list. Though we all have different items on our wish list, most of us hope to find a home that feels explicitly like it was made for us.

There are several things to consider as you search for that perfect property for you and your family. First, you’ll want to look for your dream home in a location that you’re family will be happy in for a long time. Then, don’t be afraid to be a little bit picky, and hold out until you find the home that feels right. Read on for more tips to help you find the right home (and be able to afford it when you do!).

Tips To Help You Get Your Dream Home

Buying a home is an exciting time, especially when you find the perfect home on your first try. However, there is a lot to do when it comes to the buying process. Here are a few tips to help you get into your dream home.

Get Pre-Approved

Assuming you aren’t going to pay for it with cash, the first thing you need to do is to get pre-approved by a mortgage lender. Pre-approval is essential when you’re ready to start looking for your dream home for two reasons. First, it tells sellers that you’re a serious buyer, and second, it means you exactly how much you’re qualified to borrow. 

Without taking this step, you might end up falling in love with a house that you can’t afford. Getting your finances sorted before you even start looking will help you set better expectations, and you won’t end up with any frustrating surprises later on.

Set Your Dream Home Budget

Now that you have a ballpark of how much you qualify for, you can start to set a reasonable budget for yourself. Typically it is recommended that you strive for a mortgage payment that is no more than 25% of your take-home pay on a 15-year fixed-rate mortgage. Though 30-year mortgages seem more affordable, you end up paying a fortune in interest – which only builds the bank’s wealth.

In addition, when you set your budget, you’ll also want to account for some of the costs that go into buying a new home, like higher utilities, new furniture, or even HOA fees. Don’t forget to budget for home-buying expenses, too, like moving costs, closing fees, and upgrades and repairs within the home itself. Finally, you want to plan for any hidden fees, so your savings don’t get any more depleted.

Find a Real Estate Agent You Trust

Once you’ve been approved for a mortgage and have a better idea of your budget, it’s time to find a real estate agent. There are several ways to go about choosing an agent. The first is to ask for referrals. Ask your friends and family who they’ve used and liked in the past. 

Your mortgage lender might also have a team or broker in mind when they meet with new clients. Once you have collected a few names from the people you trust, call and meet up with prospective agents and figure out who you might want to move forward with. 

When you choose your agent, you should keep in mind how long they’ve been working in the industry, what their main niche is, and how familiar they are with your area. It’s also a good idea to confirm their method of communication and make sure they are available when you need them.

Choose The Right Location 

You’ve heard the old adage – Location! Location! Location! This definitely rings true when it comes to finding your dream home. 

It’s important to remember that your house itself isn’t enough to be considered your dream home. Instead, it’s part of a larger community that you and your family have to exist in on a daily basis. With that in mind, you must find a neighborhood that suits your family’s needs too. For example, do you want to be close to downtown so you can walk or bike to local events? Are you looking for a suburb where you and your kids can play and feel safe? 

Creating this wishlist will help your agent narrow down their inventory and help you find the perfect home in the area you want to be in. 

Consider Lot Location and Size

The lot in which your home sits is often an afterthought when it comes to purchasing a home, but we think you should add it to the top of your list. Of course, you can always alter your home and upgrade its interior, but you can’t change the land. 

When looking at specific properties, consider the lot’s location and size before officially submitting an offer. Does it have that big backyard you’ve always dreamed about? Does it have a great view you’ll be happy to look out for years to come? If anything about the property seems like a compromise to you, it might be a good idea to walk away. It’s better to choose the better lot with a fixer-upper house than it is to select an updated house on a poor lot. 

Conclusion

When it comes to buying your dream home, it’s important that you are patient and don’t be afraid to be picky. Wait for the right house at the time. We’ve seen many buyers who just settle for a house they don’t love just because they were tired of looking. 

The key is to find yourself a good real estate agent who has a deep understanding of your needs and doesn’t want you to settle for good enough. The right agent will be just as committed to your dream as you are and will have your back throughout the entire process. 

Get in touch with our team at 41 Realty Group. We would love to help you prepare to buy a house and find your dream home. Start by searching our available properties here or calling us directly at (406) 969-4141.