For the majority of Bennington home buyers, finding the right property to buy is often the most difficult step of the home buying process— more difficult than saving for a down payment or getting a mortgage.
Before you start your search, consider these four important factors: Quality of the neighborhood, convenience to job, overall affordability of homes, convenient to friends/family.
How much house can you afford? Knowing what you can afford will help you narrow your search to homes within your budget. The basic rule of thumb is that no more than 28% of your gross annual income should be applied to your mortgage, insurance and property taxes. Get pre-approved for a mortgage to help you define your price range. Make a list of expenses you’ll have when you become a homeowner, including homeowners’ association fees, property taxes and private mortgage insurance. Factor in costs associated with continued upkeep and maintenance. Looking for a quick estimate based on your finances? Visit Bankrate.com and use their “How Much Can I Afford” calculator.
What type of home do you want? What features make up the ideal home for you and your family? How many bedrooms and bathrooms should it have? Do you want a pool? Do you want a detached home with a big yard or a condo with a patio? Conversely, what features would eliminate a home from your list of prospects? Knowing what you want, and don’t want, will help you focus your search on homes that fit your needs. The average home purchased in 2015 was a detached, single-family, 2,000-square-foot home with three bedrooms and two bathrooms.
Location, location, location! Choosing real estate in the Bennington area is more than whether you want to live in the city, in the suburbs or away from it all in a rural area. Your neighborhood matters. In fact, 59% of recent buyers said the quality of the neighborhood was the top factor influencing where they lived. Whether you want a house in a great school district or one that’s convenient to health facilities, defining the qualities of your ideal neighborhood will help you narrow your search area.
What’s your lifestyle? Single home buyers may have different needs than married buyers, or buyers with children, and all of these groups have different needs than retirees looking to downsize. What about you? Are you single and want to live in the heart of a busy urban area? Do you have one or more children and want to live in a family-oriented subdivision with a pool and recreation center? Perhaps you want your children to grow up near cultural amenities only found in urban areas. Your current stage of life, as well as your desired lifestyle, often influences the types of areas and neighborhoods that appeal to you. Once you determine your priorities, you can focus your home search to only those that match your desires. Are you ready to start your home search? Let’s discuss it! Once you’ve defined what the right home looks like to you, give us a call at (802) 447-3210 and we can discuss your options. We can give you the scoop on what to expect during the process. Finding the right home can be a difficult process; however, with an experienced Maple Leaf Realty professional by your side, you’re sure to make the right decision.
Location is important to me when moving into or building a new home! I think it is just as important as the home itself. If you don’t like the property or the area, you might not be happy! Even if the home is the home of your dreams. I like a place not only with a convenient distance to places I need to be, but with a decent sized piece of land!
I really appreciate the insight here in this post and confident it’s going to be helpful to me and many others. Thanks for your post.
Not too long ago, my husband and I got married, and we are looking for a new home. We want to make sure we find a place that we will be able to make our own and that will fit in our budget. Like you mentioned, considering your lifestyle and what kind of neighborhood would be best for your family is important. We’ll be sure to consider this.
That’s notable that 59% of recent buyers said that neighborhood was major buying factor. Everyone has different needs but it makes sense that neighborhood ranks so highly, since it can impact public education and health facilities like you mentioned. My son has ADHD so I think I’ll make sure we’re in driving distance to the doctor’s for his prescription.
I didn’t know that knowing what you can afford will help you narrow your search to homes within your budget. My sister and her husband will be having their third child and they want to buy a residential property. My aunt suggested buying a single-family home and shared this article with them.