Everyone aims to live in his or her dream home one day. Now, for some, that dream home might be an RV cruising across the country, living one day to the next in different places, but that still means it’s a dream home. After all, what is it they all say? “Home is where the heart is?” With that in mind, here are four tips to find your dream home, so you’ll always know where your heart resides.
Hire the Right Real Estate Agent to help you find your Dream Home
We cannot stress enough how important this is. Find a real estate agent that knows your area, is dedicated to their craft and has plenty of positive references. If you are not sure what to look for (and avoid) in a real estate agent, check out our article on that topic here.
Create a list of “Must Haves” and “Would Likes” for your Dream Home
Don’t be afraid to make these lists extensive, but know which items to put in which column. This basically means that unless you build your home from scratch, it’s unlikely that every little tiny thing (yes, unicorns pre-painted in the children’s rooms may be a hard thing to find) will already be in your dream home. These lists will allow you to decide which things need to already be a part of your home, and which things you can either live without, or make happen after you purchase the home.
Make sure your real estate agent knows that you don’t even want to look at houses that don’t meet all the criteria of your “Must Haves” list (number of bedrooms/bathrooms, square feet, proximity to good schools, etc.) Also, make them aware of your “would likes” so they can try to include as many of these as possible.
Set a Budget and Respect it
Dream homes often don’t come along with dream mortgages. No matter what you do, there’s always a chance you’ll find the perfect home and not be able to afford it. Don’t get yourself down over this. Be sure to set a budget and respect it.
If your dream home comes along and it’s $5,000 over your maximum budget, then it might be worth it to see if you can swing the extra $5,000. On a 30-year mortgage, that amounts to about $14 extra a month, so it won’t break the bank. However, if the home you fall in love with is more like $50,000 over budget, love this property from afar, and keep looking. There will be other opportunities and you don’t want to strangle yourself with an unreasonable mortgage payment.
Get Pre-Approved for a Mortgage Loan First
Speaking of smart budgeting while searching for your dream home, try to get pre-approved for a home before you start looking. Some people think they know exactly what they can afford, but the number is actually way higher or lower than expected. Mortgage brokerage firms like OMG Brokers will always be able to help you get pre-approved so before you start your search, you’ll know what your limits are.
With all of these tips in mind, you are well equipped to go out into the world, and make your dream home a reality! Do you have any others tips you used to help you find your dream home? Let us know in the comments section below!