What’s Your Home Selection Criteria?

What’s Your Home Selection Criteria?

 – Not only is purchasing a home considered as the largest financial commitment most people make in their lives, it can also be very stressful and emotional as well. Add in determining what criteria a home must have and you can easily feel overwhelmed. Everyone either has a list in their head or, on paper, with their ‘must-haves’ in a home. For instance, a main floor master suite, an open area for entertaining, a two car garage, low maintenance landscaping and the list goes on. In addition, you need to be pre-qualified to purchase a home by a lender, determine a specific location and the overall condition of the home that all must be factored in.

Price. Obviously, the price is one of the biggest obstacles that buyers face when looking at homes. Ideally a buyer has been pre-approved by a lender to comfortably afford a certain dollar amount and that will help narrow the field of potential homes to view. The last thing you want to do is to begin the house hunt with a price in mind only to find out once you have found your dream home that is out of reach because you can’t afford it.

Location. Most often a location for a new home is determined by being close to area amenities, family, a job or in a specific school district. By deciding what community you want to live in, it will help narrow down the search.

What’s Your Home Selection Criteria?

Amenities. What amenities do you look for both in a home and in a neighborhood? Amenities can vary greatly from one home to the next. From an energy efficient home, to high ceilings and the list goes on. While all of the amenities on your list may not be found in every home or neighborhood, it’s important to consider what amenities you can and cannot live without.

Size. The definition of size can encompass two different criterion. The first is the square footage of the home and number of bedrooms and bathrooms. The flip side of the size element is the size of the lot. Do you want a large lot that encompasses an expansive backyard? Or, is the home and its amenities more important than the lot size? Keep in mind that the larger the house, usually the bigger the price tag. Not to mention more upkeep costs associated with utilities, insurance and maintenance.

Design. What’s your architectural style? Do you like a craftsmanship style home, colonial, Victorian, Spanish or a modern and sleek design? No matter what your design style is, there is probably a home out there to fit it.

Condition. Do you need a home that is in move-in condition? Or are you wanting something that you can fix up? Remember that fixing a home up can help you easily gain equity, but it can also mean construction and patience. A handyman special can be great, but it can also mean uncovering hidden items and going over budget on the renovation.

Schools. Even if the school district isn’t important now, it may be in the future or perhaps help further down the line when you go to re-sell the home. Researching the ratings of public schools can be done easily online and private schools should also be considered as well.

The home selection criteria list is much different from one person to the next.  One buyer may desire a small home that requires less upkeep while another buyer may want a larger home with room to grow. The best advice that we can offer is to decide what your home selection criteria is before you begin your house search. A search for a new place to call home can be overwhelming. Not to mention adding in the element of still trying to figure out what you want when you are on the search.

The good news is that there is a property that fits just about everyone’s selection criteria and budget.  You just have to know what it is that you want. And the best news is that your success rate will increase if you have a defined search criteria to begin with. It’s ok to change some of the criteria in the search process along the way, but defining as much ahead of time will save time and stress.

Sell Your HomeWhat’s Your Home Selection Criteria?

Rick Toney

View posts by Rick Toney
Rick Toney Is A Seasoned Real Estate Professional With Over 25 Years Of Real Estate Experience, Writes A Weekly Real Estate Blog And Is A Principal of Blue Moon Realty Group And Mesa Realty Advisors. Blue Moon Realty Group Is A Residential Redevelopment Company Specializing In The Purchase And Renovation Of Older And Physically Distressed Homes (Flip This House Boston). Mesa Realty Advisors Is An Affordable Housing Developer Specializing In The Redevelopment Of Existing Low-Income Housing Properties. Rick Is A Certified Public Accountant (CPA - Retired) In The State Of California, A Certified Property Manager (CPM - Retired) And A Real Estate Broker In The States Of California (Retired) And Massachusetts.

1 Comment

  1. Jacob WahlenmaierJanuary 31, 2018

    Good article.

    Reply

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