1. Location, location, location
You’ve probably heard it before. But the most important things to keep in mind when house hunting are location, location, location.
“Location is the one thing about your home that you cannot change, and therefore should be the single most important decision you make when buying,” suggests Glen Pizzolorusso, a licensed associate real estate broker with Compass in Fairfield County, Connecticut.
2. Price
Obviously, you need to choose a home within your price range. And it should have a monthly mortgage payment you’re comfortable with. That’s why, for most buyers, the home’s price tag is a make-or-break consideration.
3. Home style and size
You want to be content with the layout and square footage of the home you choose. Remember that your needs may change as your household grows, and if or when family members are added, so carefully consider short- and long-term size needs as well as the practicality of the floor plan.
4. Home amenities
Amenities inside and around the home matter a lot, too — from the type of flooring and quality of kitchen appliances to the lighting fixtures, bathroom finishes, and backyard features.
“Think about aspects of the home that may be on your wish list,” Schmidt adds. “Do you want a garage or a deck? Maybe a finished basement or an unfinished basement that you can put your personal touch on?”
5. Quality of nearby schools
If starting or growing a family is in your near-term plans, then you’ll want to pay attention to the local school district where you’re purchasing.
Ideally, every parent wants their child to attend highly-rated schools in an excellent school district. Take a close look at the public school system as well as private schools in your desired neighborhood and zoom in on test scores and other posted criteria that can suggest the level of education and the kind of experience your child can expect.
6. Taxes and cost of living
A home on a large plot of land, for instance, will likely have higher property taxes than one with a small backyard. And homes in a danger-prone area — like a flood zone — can be very expensive to insure.
All these added costs will increase your monthly housing bill and your overall cost of living. So take some time to compare expenses if you’re considering homes in multiple locations.
7. Size of the property
“You want a decent-sized lot if you plan on adding any exterior features, such as special landscaping, a swimming pool, a deck, a gazebo, a shed, or a tennis court,” notes Pizzolorusso.
Carefully assess the size of your yards and grounds and envision how you may want to add these future outdoor amenities.
8. Homeowners association (if applicable)
“Homes in an HOA can come with restrictions and how you can use the home or decorate it, so you might want to consider that before placing an offer on a home with an HOA,” Schmidt says.
