Congratulations on your decision to purchase a home!
Now it's time to consider "What's the right home for me?"
Set your Priorities...
1. Price Range - what am I willing to pay?
Meet with a lender and get pre-approved. There are several lenders I can recommend (see "How to Choose a Lender"), but you should speak, to him./her on the phone and become pre-approved to purchase a home. Why?
This decision is made throughout the home-buying process. Perhaps you know you want a particular community, or you truly want a specific school district. Maybe you need to live along the Red Line or the Brown Line...
I often take buyers out the first time and show several neighborhoods - they can get a feel for the housing stock available, see the different communities, and then begin narrowing their search.
It's helpful to think about the following priorities:
Here's where you think about what must be IN your home -- these are all searchable variables when I prepare your showing schedule, and you can choose a range for some items, like bedrooms.baths. The more precise you can be, the quicker you'll find your home...
4. Condition
Condition is one of the key factors in determining home value. When you search for homes, you'll see that the sellers are putting their best foot forward by "staging" their homes.
Most buyers want t buy homes in "move-in" condition, however if you're willing to put in a little decorating or "sweat equity" you may be able to find a diamond in the rough. Sometimes, sellers are unable to invest a lot of money before they sell, and if you have vision and patience, a fixer-upper can be the buy of a lifetime.
Let's discuss condition as a means for buying a little extra home...
Now it's time to consider "What's the right home for me?"
Set your Priorities...
1. Price Range - what am I willing to pay?
Meet with a lender and get pre-approved. There are several lenders I can recommend (see "How to Choose a Lender"), but you should speak, to him./her on the phone and become pre-approved to purchase a home. Why?
- By deciding what a comfortable payment is before you start to look, you won't make the mistake of buying too much home too soon - your payments will be comfortable and you'll love the home choice you make
- You don't want to waste your time falling in love with a property that you ultimately can't afford - what a disappointment that would be!
- You will be in a better bargaining position during negotiations when the seller knows there is nothing stopping you from proceeding directly to the closing table.
- When you meet with the lender, you'll have the discussion about property taxes and assessments (for condos and homeowner associations) - this will get you in the habit of adding these critical additional costs in when you search for homes. Again, this ensures that you're comfortable with your payment.
This decision is made throughout the home-buying process. Perhaps you know you want a particular community, or you truly want a specific school district. Maybe you need to live along the Red Line or the Brown Line...
I often take buyers out the first time and show several neighborhoods - they can get a feel for the housing stock available, see the different communities, and then begin narrowing their search.
It's helpful to think about the following priorities:
- Access to transportation routes - where are you commuting and what's most convenient? El stops? close to major arteries like 90/94?
- How do you live after work - where do you like to spend your time -- Great restaurants/night life? Lakefront? Theater? Playgrounds with the kids?
- What conveniences are critical? Are you the kind that goes to Costco once/week or do you prefer to stop in Whole Foods or as commissary daily for your groceries?
- Is green grass and low-rise living your thing, or do you love high rise views and doorman security?
Here's where you think about what must be IN your home -- these are all searchable variables when I prepare your showing schedule, and you can choose a range for some items, like bedrooms.baths. The more precise you can be, the quicker you'll find your home...
- # Bedrooms
- # Baths
- Cars - do you need parking? for how many cars? garage or space?
- Pets - dog? cat? number? weight? (may determine which condos you can live in
- Outdoor space - is a deck/balcony critical to your decision?
- Dining - Do you need a formal dining room or is a Living/Dining combination okay? Must there be seating in the kitchen?
- Family room/Great room - let's face it - where we gather is critical... do you like a kitchen/great room combination or do you prefer to meet in the living room?
- Doorman - some love doorman buildings while others wish to save on their assessments and use security keys
- Washer/Dryer - while we all have to wash our clothes, some condos have laundry rooms....just how critical is it for you to have yours in your condo?
4. Condition
Condition is one of the key factors in determining home value. When you search for homes, you'll see that the sellers are putting their best foot forward by "staging" their homes.
Most buyers want t buy homes in "move-in" condition, however if you're willing to put in a little decorating or "sweat equity" you may be able to find a diamond in the rough. Sometimes, sellers are unable to invest a lot of money before they sell, and if you have vision and patience, a fixer-upper can be the buy of a lifetime.
Let's discuss condition as a means for buying a little extra home...
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