Unless you’ve got an unlimited budget, the “perfect” home might not be that easy to find. And in a low-inventory high-demand market like we’re experiencing now, you might even think that ideal home doesn’t exist at all—but I promise you, the right home is out there!
Here are some tips for finding your perfect home—no matter your budget.
Tip 1: Get Preapproved for a Mortgage
It’s always a good idea to get preapproved before you start home shopping, but it’s especially crucial in this competitive market. Getting preapproved requires you to talk to a lender (or a few lenders) regarding your finances and ability to qualify for a loan.
Not only does getting preapproved give you an idea of how much loan you can get (and therefore estimate your monthly budget), it also shows sellers that you’re a serious and qualified buyer.
Tip 2: Do Some Local Research/Exploration
What are the three key factors of real estate? Location, location, and location! What that means for you as a buyer is that you’ve got to pick the right location before you even start thinking about homes.
Consider things like proximity to work and amenities, the school districts, and the prices of homes in the area.
Tip 3: Determine Your Needs
Before you get carried away dreaming about all the features you’d like to have in a home, start with the basics. Will you need a single-family home or would the low-maintenance aspect of a condo or townhome be better? How big does it need to be? Think bedrooms, bathrooms, and overall square footage. How about the yard? The garage or storage?
Consider the size and needs of yourself and your family—as they are now and as you plan for the future.
Tip 4: Add in Some Strong Wants
There are a few things you may not necessarily NEED but would strongly like to have. If you have a dog, that might be a fence. If you cook a lot, that could be granite counters. Each buyer will have different preferences, and it’s important to spend some time thinking about yours.
Start with things you currently like or dislike about your current home, as well as the features you’re indifferent to.
Tip 5: Stick to Your Preferences
Once you’ve got your home style, your wants, and your needs established, make these your criteria for your home search, and stick to them. If you need four bedrooms, don’t waste your time touring three bedroom homes.
Depending on your specific “wants”, you may be able to exercise a bit of flexibility here. Things like granite counters or fencing can easily be added after the fact.
Tip 6: Document Every Visit
When you see a home that hits all your criteria, it’s time to take a tour! It’s a good idea to bring a notebook and take some notes. These will come in handy when comparing homes and trying to remember the details of specific properties you’ve visited.
Record details such as your first impression, overall impression, the lighting, the space, the condition of the home, and more.
Ready to Find Your Perfect Home in Crofton, MD?
Are you thinking of buying a home in or relocating to Crofton, MD? Then it’s time to contact me, Kyle McCarthy. I’m here to help you explore the area, discover its beautiful communities, and find the perfect home for your unique needs.