As the American economy continues to recover, so does the number of people becoming confident in purchasing a new home from real estate property management companies across the country. In fact, one study has shown that between May 2012 and May 2013, home sales in the U.S. grew by about 12.9% — an amazing growth. This is because owning a home carries many financial benefits, such as allowing you to build equity.
But the process of finding the perfect home for your needs from the extensive new home listings in the real estate market can seem intimidating. Whether you are considering house-hunting for beach style homes or more traditional houses, you want to be sure you’re buying the home of your dreams.
To make yourself a little more fluent in the language of real estate, be sure to ask these four questions during your search through the new home listings:
How much fixing-up will I have to do?
One of the biggest benefits of opting for a new home rather than a pre-existing home is the fact that you will have to complete little to no maintenance or repair work for the first several years of owning your house. But if you find a pre-existing house to be the perfect fit for you, it’s important to make sure you have a home inspector thoroughly look at its structure, appliances and fixtures to get an accurate picture of what things will need maintenance work.
Is it in a good neighborhood?
The neighborhood in which your future home will be located is another important thing to consider. In addition to the obvious desire to choose new home listings that are located in safe, strategically-located neighborhoods, the way a home’s neighborhood looks can also have an impact on its resale value if you choose to move again.
Is this house the right size for me?
If you’re currently single and not planning on starting a family, buying a house with multiple bedrooms and bathrooms is unnecessary. Likewise, you shouldn’t try to fit a large family into a home with only one or two bathrooms. Determine the amount of space that you and your family will need to live comfortably, and choosing the right house will become much easier.
Can I afford it?
Generally, it’s recommended that you calculate the average cost of living in the home you’re considering before you buy it. This is a great way to ensure you don’t buy a house you simply can’t afford to own, and can prevent financial difficulties later on down the road.