What Should You Look For When Buying A Home?

Everyone knows that buyers shop based on price range, but there are so many other features to consider when searching for your next home. After home shoppers visit homes, their criteria may change quite a bit. Suddenly you might realize that you don’t love a split level home as much as you once thought. Regardless of what you’re looking for, here are the major things you need to consider when buying a home.

What Are The Top Features That Buyers Look For In A Home?

  • Neighborhood wants & needs for buyers in your area…
  • Feeling safe in the neighborhood. A home shopper will want to know they are safe if they choose to walk the neighborhood at any time or if they leave their children home alone.
  • Walkability. Do you want to be close to a local restaurant so you can walk each night? Or are you looking for a home nearby a dog park so you can walk your furry friend each morning.
  • Preferred neighborhoods. Home shoppers may be looking for a specific neighborhood. Maybe it’s a specific school district or nearby their work. Learn more about the local neighborhoods here.
  • A sense of community. Some home shoppers will want a home on a 10 acre lot with no neighbors insight, whereas some home shoppers would love a home with a community aspect. A playground in the neighborhood, a neighborhood full of walkers, or another community aspect
  • In a preferred school district. With so many different local school districts & the maps being all over Spokane, being in a preferred school district is important to many buyers.

Home features buyers want…

  • Within their initial budget. In today’s market many homes shoppers understand that they may need to bid up the original listing price for the home.
  • Air conditioning. In the warm summer months, air conditioning is a life saver. Many home shoppers won’t even consider buying a home without an air conditioning unit.
  • Preferred number of bedrooms & bathrooms. Many home shoppers are searching for a specific number of bedrooms for a fair reason. If a home shopper is a family of 4, they should not ever consider buying a 2 bedroom home.
  • Floor plan/Layout of the home. Most home shoppers will have a preference in how the home is layed out. Many home shoppers today love having an open concept in the home.

Tips For Home Shoppers Searching For A Home Currently

1. Search within your price range, & keep in mind the current real estate market.

Price will always be the ultimate factor in whether you can purchase a home or not. It’s simple, if you do not have enough money to purchase the home, you can not purchase a home. While searching for homes above your price range can be fun, it can often lead to heartbreak.

Using our mortgage calculator, find your price range that you can afford up to.

2. Find your preferred location.

Location. Location. Location. Have you heard that before? It’s because location matters. You’ll be living in your new home & neighborhood for the next 5 to 30 years (on average.) By purchasing a home in your preferred location you can be close to your favorite restaurants, parks, parts of town, or living in the same neighborhood as your family & friends.

3. Think long term with your new home purchase.

When you purchase a home, your end goal is to gain equity in the home purchase. It’s very likely that your home will increase in value over the next 5 to 30 years, so equity is almost guaranteed.

When you are looking to purchase a home, ask yourself if this is a home you will stay in for 5 years, 15 years, or 30 years.
If you’re buying a home to live in for the next 5 years, you may choose to purchase a smaller home, that you can eventually sell & then use the equity to purchase a larger home once you need more space.

If you’re buying a home to live in for the next 15 years, you may choose to purchase a more expensive home, but a home that you will not need to move out of in the next few years.

If you’re buying a home to live in for the next 30 years, you may choose to purchase a “family ready” home. A home that will not require any major renovations & will have more than enough room for your entire family.

4. Consider the property conditions

Are you handy enough to make small minor repairs to your new home? Almost no property will be perfect & almost all properties will require some sort of renovation to the home. Whether it’s a fresh set of paint, new flooring, or an entire home remodel consider whether you can do the work or if you should move onto the next home.

5. Stick with your absolute needs in a property

Working with your trusted real estate agent, figure out your wants & needs in a property. A want may be a large patio deck with a view, whereas a need may be 5 bedrooms.

While there are always going to be things that you want, sticking to your absolute needs will make your overall home shopping experience more enjoyable knowing that everything you need is taken care of in your new property.