No matter what you read, there is no exact formula for buying a home, just like there is no magic formula for raising children. What we can offer however is that buying a home can be fairly predictable and we can give some long tested suggestions to make your home buying process easier. But what you won’t find is our tips for how to raise a family that goes anywhere beyond – maybe making sure that your family has a home located in a great school district.
For starters finding the right home in April 2011 is going to be impacted by the economy. It is hard to get away from the economy. Gas prices are at all time highs and there is no sign of them coming down anytime soon. You may have to consider a specialty loan like a VA hybrid loan if you are an eligible VA loan applicant or an adjustable rate mortgage if you want to keep your payment lower. But this post isn’t about financing programs it is out some homegrown suggestions about picking the right home. So with this in mind we’ll launch into our home buying suggestions below:
Pick a location based on what is important to you. What is more important – being close to your family, being close to your job or being close to shopping centers and restaurants etc? For many people, the biggest expense outside of the mortgage payment is their transportation expense. With this as the case and with gas prices elevated you may want to consider either living closer to your job, or close to a mass transit access point such as a light rail station or a major bus route. There is no real right answer here as it is a personal preference.
Picking the right neighborhood. If you have a family picking a home based on the home being in a safe neighborhood and close to schools will likely be a priority to you. You may also want to consider where the home is in reference to parks and other amenities like: libraries, bike paths, and green belts.
Picking the right house. If living near a major street bothers you don’t buy the house because it fits your budget. What this means is that you need to be practical in your home search. But you have to draw the line in what you want and what you need and can’t live without.
