Once you've determined how much of a house you can afford, you can start the hunt. However, simply darting here and there won't do it. You have to have a game plan.
Here are some things to think about:
- How many bedrooms will you need? Most houses have three or four bedrooms. You'll probably have to pay a premium for five or more bedrooms. Houses with fewer than three bedrooms are often more difficult to resell, although they may cost less initially.
- Don't buy a house with only one bathroom. It's very difficult to resell.
- Do you want a newer house with all the modern goodies such as better insulation, copper plumbing, high-efficiency heating and cooling, heavy duty electrical systems, and what comes with all that--fewer repairs?
- Or will you settle for the comforts of an older, established home such as a fully grown garden, larger lot (this is fairly common with old homes in Reno), and developed neighborhood.
- HOA dues are usually a lot higher with newer homes. Watch out for that as well.
- Is there a better school district you want to be in? The better the neighborhood, almost invariably the better the schools. The two go together hand in hand.
- What about shopping? Most people don't want to drive more than a few minutes for bread or milk.
- What is the maximum distance you are willing to drive for work?
- Do you want a one, two or three level home? Or maybe you want to have the option of having horses on the backyard, a ranch perhaps?
- Do you want a big lot?
- Does it have to have a view?
- Do you mind being on a busy street? What about corner lot?
These are some of the things to think about when buying a home.
HOUSE HUNTING QUICK CHECKLIST
How many bedrooms do you need?_____
How many bathrooms?_______
New or old house?________
School district to be in?_________
Close to shopping?__________
Close to transportation?_________
How many stories?_________
What colors?__________
Fireplace (s)? _________
Lot size?_______
When you begin looking for just the right house, what you're really doing is gathering information. You want to learn which neighborhoods you can afford and in which you feel safe, what those neighborhoods look like, what the traffic and public transportation are like, the quality of schools and shopping, and so forth.
TIP-- have an eye toward reselling. People who buy a home that is pleasing to them at the same time likely to please others have an easier time reselling and selling for more money.
*I recommend the Robert Irwin's Tips and Traps When Buying a home Book. You can find more great tips in this book.
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