When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic. Mortgage rates impact how much it costs to borrow money for your home loan. And, to help offset the higher borrowing costs today, some homebuyers are taking a close look at their wish list and re-evaluating what features they really need in their next home to avoid overextending. As a recent NerdWallet article says:
“A pool, for example, may be nice to have, but it may not provide as much day-to-day value as a garage or a space for a home office . . .”
While that pool may be appealing, think twice on whether or not it’s really something you must have to be happy in your next home. Is getting that pool the main reason you’re moving? Probably not. It’s more likely a need for more space, a home office, or proximity to loved ones, friends, or work that’s motivating you to make a change.
So, if you’re looking to buy a home, take some time to consider what’s truly essential for you in your next house. Make a list of all the features you’ll want to see, and from there, work to break those features into categories. Here’s a great way to organize your list:
Once you’ve categorized it in a way that works for you, discuss your top priorities with your real estate agent. Remember to think carefully about what’s a non-negotiable for your lifestyle and what’s a nice-to-have that’s more of an added bonus. Be sure to discuss where each feature falls with your agent. They’ll be able to help you refine the list further, coach you through the best way to stick to it, and find a home in your area that meets your top needs.
Putting together your list of necessary features for your next home might seem like a small task, but it’s a crucial planning step on your homebuying journey today. If you’re ready to find a home that fits your needs, let’s connect.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The Home Run Team, Ltd. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Home Run Team, Ltd. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
There's a myth about down payments that hold a lot of buyers back; here's what to know to not get fooled.
Let’s take a look at some historical data to show what’s happened in the housing market during each recession, going all the way back to the 1980s.
Right now, it's a tale of two markets, and knowing which one you’re in makes a huge difference when you move.
Just because the economies down doesn't mean home prices will follow; in fact, it may be the opposite.
If you put the latest data into context, it’s clear there’s no reason to think this is a repeat of the last housing crash.
Here’s the thing: the market’s shifting. And it might be time to hit play again.
If you put your home search on hold because you couldn't find anything you liked in your budget, it's time to try again.
Savvy sellers are jumping off the fence and back into the market. And here’s why.
Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you.
We're here to help people live wealthier lives and enjoy more freedom by educating and guiding them through their lifelong real estate journey. Whether you're buying a home, looking to sell or relocate, or are an investor, we can help you. No agents will work harder for you, because to us, going to bat for you, isn't work. That's just what you do when you're a team.