Of course, there’s a lot you need to know financially and budget-wise when buying a home in Dallas, but there are other things you should consider as you go about looking for the right home for your family. Hopefully these tips will help make the entire process easier and less stressful.
Buy a home you’ll enjoy living in 10 years from now. It’s easy to fall in love with a home’s features at first glance, but how will you feel about the home in five or 10 years? Buy for the long-run, without assuming you’ll sell your home in two or three years. Keep the space and features you want now and in the future in mind as you look at homes, picturing your family in the home as your children grow over the next several years.
Don’t let features you don’t need distract you. It’s so important when looking at homes to focus on one that meets your basic needs. It’s a good idea to make a list of what you need most in a home AND in a neighborhood, depending on your lifestyle, whether you have children, what you desire in terms of security and privacy, etc. Sure, it’s easy to get distracted by that beautiful wine cellar or master chef kitchen with double ovens and a fireplace – but do you need these things? Probably not. All the “bling” really adds to the price, so if you don’t need it, go on to the next house.
Buy a home to enhance your life, not for short-term financial gain. Finding a home that suits the needs of your family, and one you’ll find perfect for relaxing in, raising your kids, and even entertaining, should be first and foremost. You never know how long it will take to sell a home or how fast its value will appreciate, so don’t view it as a financial investment for the sole purpose of selling for a substantial profit.
Shop lenders – it can make a huge difference in your mortgage. The fact is, more than half of those who buy a home only talk to one lender. It’s a good idea to talk to at least two or three about mortgage rates, as half a percentage can cost you thousands more by the time your loan is paid off. Look for lenders who offer competitive rates and have a reputation for closing on time. Why pay an additional $50, $70 or even more per month on your mortgage when you can slash costs by comparison shopping?
These are a few things we believe are vitally important when shopping for a home in the Dallas-Ft. Worth area. You’ll also want to plan out your budget and stick to it, so you’ll know how much home you can afford. The last thing you want is a home you can’t afford, or that will leave you under water or facing bankruptcy!
At Team Nelson, our Dallas real estate professionals want to help you find the perfect home. That said, we’re also dedicated to helping ensure you’ll be happy with your home, whether you live in it for five years or the rest of your life! It’s where your life happens, so be sure to choose a realtor with your personal preferences and best interests at heart.