What to Consider When You’re Looking for a New Home
First things first: Do the math. Before you get into the fun stuff (looking at real estate listing, making a wish list, going to open houses) you’re going to want to keep yourself in check (and save yourself time!) by figuring out what you can afford. Knowing this will help you narrow down your search before you start, and will give you an idea of how to budget beyond the obvious home-buying costs – auxiliary things like decorations and furniture. The U.S. Department of Housing and Urban Development (HUD) provides a lot of resources on their website for calculating your budget, such as this pamphlet on home economics. Some of the things you’ll want to know:
- Your monthly income
- Your monthly expenses
- Your credit score
The Fun Part: Make a Wish List. This is the best part, in my opinion. Think about everything you want in a home. At the beginning, don’t leave anything out – you can always cross things off later. My recommendation is to make this list by thinking through your day in chronological order. When you wake up, what kind of room are you in? What kind of room do you want to be in? Where are the bathroom and kitchen located? Could any part of this process be streamlined better? Is easy access to the outdoors (like a balcony or back porch) important to you? Where does your car go?
After you’ve thought through your day and all the ways your home impacts your day, think more long-term. What about your house is important to you in the winter? Will you be living somewhere where seasons are a factor? (for example, if you’re going to live somewhere with heavy snowfall, you might want to pay attention to how much driveway you’ll have to shovel) Will your family be expanding? Are you planning on having a lot of visitors, entertaining, having children? Do you have elderly relatives that may visit, and if so, how accessible will you need your home to be? All these things are a factor. HUD has a worksheet on this on their website that covers many of these factors.
Shop ‘til you Drop. Brainstorming and planning is an essential part of the process but at some point – you’ve got to see the real thing. Most realtors will recommend looking at least a dozen or so homes before you decide – even if you fall in love with the first one you see, it’s best to be thorough. Take your wish list and a note book with you and be sure to take notes – after a full day of home browsing you’ll find it can all blur together.
Sealing the Deal. Once you find your dream home, you’ll have to go through the process of getting your loan set up, figuring out your mortgage and making an offer. Freddie Mac has a website with information to help you guide this through this process – it can be confusing especially for first time home buyers, so it’s good to know what to expect ahead of time. You also want to protect your home – one great option is to get a home warranty, which provides protection for breakdowns of major appliances due to wear and tear. American Home Shield is the most recommended home warranty provider among women across America, and provides quick solutions to most any issue involving home systems or appliances. Additionally, for restoration or emergency clean up needs you have, keep ServPro in mind – they’re one of our most recommended brands in home restoration services.
Enjoying your New Home. This is the real fun part – you have a whole new place! Surely you’ll have some furnishings to bring over from your old place, but for everything you need besides that, check out the Women’s Choice Award Most Recommended Products for your home.
Author: Emily Smalter Emily is currently enrolled in a Master's of Social Work program at Kansas University. Outside of her schoolwork, Emily advocates for women to have a stronger voice in both the public and private realm, and spends her spare hours writing on how to make the seemingly smaller tasks in our lives more manageable.