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What Should New Home Buyers Really Consider?
LOUISIANA REALTORS • November 20, 2017
We’ve never had more access to information when it comes to making a new purchase than we do today. Whether it’s a new phone, TV, or even a new car; we are now able to essentially make up our mind before we ever see the product. While this access to information is great, it can also force us into a decision we may not be ready to make or understand. Of course the larger the purchase, the more there is to consider, and this couldn’t be truer than when buying a new home.
This is where the expertise and experience of a REALTOR®
can really pay off. You may have your mind set on a certain size, floor plan, and amenities; but are you positive that these features will meet your needs and wants? Here are a few things to keep in mind as you shop for a new home.
Don’t get hung up on square footage
It’s easy to get a number stuck in your head when it comes to square footage. However, there are many other things to consider. How tall are the ceilings? Are there granite countertops? You can look at two identically sized homes and they can vary drastically in amenities and price. So be sure to have some other objectives in mind and don’t focus solely on size.
Focus on the floorplan
The floorplan in the home you choose is pretty much permanent; short of a major renovation. So even if you aren’t wild about the finishes, floors, or colors, choose a home with the right living room, kitchen, and bedrooms, and you can inexpensively update and upgrade the aesthetics.
Consider the neighborhood
Remember that you are going to be joining a community, not just buying a house. Understanding the values, interests, and ages of your new neighbors should be a key consideration; even if the house isn’t what you imagined, but the neighborhood
is. Accounting for schools, proximity to resources, transportation, and infrastructure should all by key metrics in your decision making process.
Stick with what’s important to you in a home
While a lot of what has been mentioned above urges you to keep an open mind, it is just as important to stick with the items that are non-negotiable. Does the sound of traffic bother you? Then don’t compromise on size and don’t accept a lower price if you still have to listen to it. Does a long commute not work for you? Stick to your guns and keep looking for something that meets these needs.
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As previewed last week, NAR is pleased to share the latest consumer guide focused on preparing for homeownership. This guide covers what prospective buyers should consider as they kick off the home purchase process, including the importance of credit scores, mortgage pre-approval, down payments, budgeting, and educational resources. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Preparing for Homeownership Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with potential clients to ensure they have the information they need to be successful in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property taxes.
As previewed last week, NAR is pleased to share the latest consumer guide focused on escrow. This guide covers what homebuyers should know about earnest money deposits, including the general terms and use cases in real estate transactions. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Flood Insurance Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover preparing prospective buyers for homeownership.
The Louisiana REALTORS® Board of Directors will conduct several elections this Spring. Interested candidates that meet the qualification who are looking to serve at either the state association level or the national association level are encouraged to view the criteria and submit an application. An application that is not submitted on the appropriate form or not submitted pursuant to the instructions shall not be considered as submitted timely.
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Baton Rouge, LA 70802