The sale of homes across the United States continues to grow. While it might be slower in some spots, the majority of the country saw over a nine percent increase in purchases at the start of the fourth quarter of 2020.
Keep reading to learn how to elevating your home buying experience as a family.
Table of Contents
Reasons For The Continued Increase
Despite the medical and economic strains of 2020, home sales continued to go up for a few reasons.
One, new construction remained steady, so the availability of properties went on the upswing. Second, interest rates hit levels not seen since the 1950s and 60s. What does this mean for your family?
Overall, the time is ripe to purchase a home. It doesn’t matter if it’s your first time or if you want to upgrade/downgrade. You want to take advantage of the available opportunities.
However, you don’t want it to be a simple experience. It needs to be elevated to something exciting and life-changing. Here are a few ways to make that happen.
Make Sure You’re Ready
The home market is ready for you, but it might not be the other way around. You can’t take a serious look without making preparations.
First, determine how much you can present as a down payment. Next, figure out your income to debt ratio. When that’s done, contact a financial company to get a pre-approved loan.
These steps remove you from your dream state and put your feet on the ground. With those numbers available you can start looking for a property within your budget.
Though it doesn’t seem like it’s elevating the experience, it definitely provides it with a strong sense of reality.
Shop For The Right Home Loan
How you get a home loan isn’t any different than choosing the right toilet paper or deciding on the best smartphone. You have to shop around for the highest quality items with the best deals.
This is what helps your home-buying experience go from okay to great. For example, you can research homes for sale in Temecula or your particular locale.
If you find one, there are loan companies out there who will work with you to get the best deals.
Some companies not only get you interest rates that are below industry standard, they also provide options to put no money down on a home.
Look In The Right Neighborhoods
A home buyer who looks everywhere for a property is going to see a lot of variety. What they won’t see is the wow combination of the house and its neighborhood.
Though a property may be magnificent, where it resides may be below average. The home and neighborhood need to be examined as one.
With children, you need to research the educational opportunities. For work purposes, you want to look at the public transportation system and traffic patterns.
For downtime, an examination of nearby restaurants and theaters is a must.
If the house you want is beautiful but the rest is lacking, then you really want to look elsewhere. If you can get both, then you certainly want to consider an offer.
Don’t Overdo It
The 3200 square-foot home with its marble countertops and in-ground pool might be the property of your dreams.
At least you think so. If it’s just you and your partner, or you’re a family of three or four, then this house might be too much to handle. It’s not the size that’s the issue.
Rather, it’s the maintenance connected to painting and furnishing all of that space. Let alone the daily tasks to keep the pool running in the summer.
If you’re an active family, those things will fall by the wayside. In other words, don’t go crazy with the home you get.
Keep it to something within your budget and the amount of time you have.
You want to elevate the home buying experience. You don’t want to go into panic mode once you’re finally given the keys.
Final Thoughts
A home is within your reach. You need to follow the above steps to make it happen. Also, do one more thing — take it slow.
This is an enormous purchase and change in your family’s life. Don’t rush through it.
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