Finding the perfect house for you and your family can make you go insane. Balancing goals, budget, lifestyle, expectations, logistics, among so many other factors, is never an easy feat and it requires a lot from you.
This step is crucial and should be taken before you do the first round of searching. Do you want a house where you can build a family? Or is it just for you and your partner? Do you see it simply as an investment?
What are your plans for the long run? Be honest with yourself as the answers will play a huge part in the choice.
Stick to a budget
Knowing your limits lets you stay realistic. A clear budget will take out a lot of uncertainty and stress from the process. Determine how much you can spend on insurance, mortgage and utilities.
See if you can use some assets or savings as a down payment. Try to plan your income stream for the future. Do you envision you will make more, less or the same amount of money in the next few years?
Decide if you are willing to do repairs
It’s very important to decide from the beginning whether you want a house that is immaculate or that needs some work. If you are handy and have time, it can be very economical to buy a house that needs repairs you can handle.
You can also make it be just as you want. But don’t try to fix things you are not totally comfortable with, like wiring and plumbing. It can cost you a lot.
Make your wish list
After you go through the first three steps to draw the big picture, you should start coming up with specific desires. Balance what you want and what you need. Think about things like style, size, rooms, environment, location, distances, among endless others.
Get the whole family involved, learn how to compromise and go through it thoroughly.
Make a timeline
The timeline should be flexible to the appropriate extent. Draw up when to speak to realtors, look at properties and sell your current house. Your life won’t stop for you to find a house, so make sure the timeline is in sync with the family’s schedule and budget.
By breaking down the process into parts, finding your dream house will be a manageable and enjoyable journey.