Thursday, 21 September 2017

Snagging That Dream Home, Whilst Remaining Frugal

When you first moved into your home you loved it. Fast forward a couple of years and your circumstances have changed. You now need more space for your growing family.

You have spent months looking for the perfect family home. Everyday has seen you trawling the latest real estate listings. Finally, you think you have found the house of your dreams. But is it the right home for your family and is it frugal friendly?

The Perfect Home Checklist For Those On A Budget


Can You Afford It?

Before you get too emotionally attached to the new property, you need to check that you can actually afford it. The homeequitylineof.credit website has a helpful mortgage calculator which will give you an idea of how much money you can spend on your perfect home. You don’t want to stretch yourself too much.

Location

Once you know that you can afford the property you need to check that it meets your other criteria. Looking for a home on a budget shouldn’t mean that you need to sacrifice living in a good neighborhood.  Location is often one of the most important factors in buying a new home. Is it a nice neighborhood? Are you close to good schools? Is it a safe place to live? Look at your neighbors yards. Are they clean and tidy, or is there trash laying around? If you buy a home in a good location then you know that it’s usually a solid long-term investment. A real estate agent will often tell you that it is best to buy the worst house on the best street. Buying a fixer-uper means that once you have made some home improvements you should see a return on your investment. It will also be easier to sell later on.  Never let the finish of a house sway you. Buying a beautiful home in a dodgy area because it fits your budget could be a big mistake. You always need to think about resale value and how easy it would be to sell your home on.

Size

Moving home is an expensive business and that means you should be looking for a home that will last you 5 to 7 years. If you pack your own stuff then that will help save you some money. Just make sure you label your boxes clearly.  A more frugal way of moving would be to forget the removal guys and to use your friends instead! Reward them with some cold beers and they will be more than happy to help. You could also hold a yard sale. Get rid of those old clothes you no longer wear. The less you take to your new house, the less you have to pay to move.

Floor Plan

Do you like the floor plan of the home. Would it work well for you and your family? Would it make a warm and inviting home for your family? Are there enough bedrooms? If you have a young family then you might want a home with lots of open space so that they can play and you can keep an eye on the children. But you also want to bear in mind that when they are older they will be spending more time in their bedrooms. So are the bedrooms big enough? Is there enough storage for the family? If not look to see if there is room to add storage. You want a home that functions well for your family now and in the future. Also, is their the potential to rent out a room or the basement? This could provide you with a great source of cash that will help with the mortgage repayments.

Does It Make You Smile?

Finally, being on a budget doesn’t mean that you should sacrifice your dream home. You want a home that makes you feel happy as soon as you step inside.  Is it a home that you can picture yourself living in? Sometimes you have to trust your gut as well as your checklist. When you have found the right house, you just know it. 

No comments:

Post a Comment