When taking buyers out to find their dream home, I understand we are embarking on a journey, and I want my buyers to not only feel emotionally comfortable with the home they choose, but also confident the home they select is affordable and a good investment in today’s market.
So, how do you go about starting to find the right home when there are upward of 20,000 homes on the market? How do you begin to narrow it down and find the house right for you?
For some homebuyers, shopping for a home is neighborhood driven. They want a particular school district or planned community. For others, the combination of features outweighs the area. A three-car garage and a pool may take priority over the cross streets.
I believe finding the perfect home requires a balance of location and features and, just like the buyers on HGTV’s House Hunters, there will be some compromises to make along the way.
How Much Home Can We Buy?
The most important thing to do when you start home shopping is to make a list of your priorities. The easiest place to start is with price. Talk to a lender before you start the process to first find out how much home you can afford (check our resources page for a list of lenders with whom we have worked). As interest rates creep upward, be aware that the amount you can qualify for can also change with the rate.
So often, buyers qualify for “x” amount, and they look online at “x” plus 15 percent. In this market, sellers certainly aren’t coming down 15 percent or even 5 percent. So, the homes the buyers start looking at are often out of their range. This is a challenge because buyers are then disappointed by what actually is in their price range, as opposed to excited when they find a great house they can afford.
My New House Will Have…
Rank the five most important elements you would like in your next home, such as neighborhood, square footage, number of bedrooms, number of bathrooms, number of garages, lot size and pool, etc. The top items should all be fixed items. For example, while most buyers prefer granite counters to laminate, counters can be changed, so they shouldn’t be a top five priority. On the other hand, adding a garage is not so easy. So, your garage needs to rank toward the top.
In The Next House We Will…
Most people begin dreaming about their new home before they ever start touring homes. I always think it is incredibly helpful to really envision yourself living in your new home, and try to define how that translates into home features. Do you want to start entertaining? Then, you may want to focus on finding an open plan with a great patio. Have you always wanted to restore cars? Then, perhaps a three-car garage is something you need to place in your search.
In Five Years
As you start your search, it also is very important to weigh your priorities with your future in mind. You may be shopping as newlyweds and looking for a first home. While a great pool may be a priority now, a cul-de-sac lot with a great area out front for tricycle riding might be something you want to consider for the future. Or perhaps you are thinking of downsizing so you can travel more when you retire. You may want to evaluate the landscaping and home maintenance requirements to make sure the home is easy to lock and leave. A little forward planning will help you be happy in your home for years to come.
Be Represented
I am confident I can find you the perfect home. Give me a call at (480) 568-8680 with any home buying questions or to set up a real-time custom search. I not only actively research properties for my buyers, but I also advocate to make sure they are getting a best possible deal. I have worked with hundreds of happy buyers, and would love to help you find your perfect home, too.
John Karadsheh is the Designated Broker for KOR Properties. He has been a Multi-Million Dollar producing agent for more than 15 years, and he is an Accredited Buyers Representative (ABR) and Certified Residential Specialist (CRS). In 2014, John was voted the No. 1 Real Estate Agent in Arizona by Ranking Arizona. You can reach John at (480) 568-8684, or visit his website at KORproperties.com.
KOR Properties is a boutique real estate brokerage serving the Valley of the Sun and the creator and founding sponsor of Mesa Food Truck Fridays.