Tips for buying a new home

Uncertain of what you really desire?

Are you looking for a condo close to the Columbia River, a single-family home in the suburbs, or maybe some acreage out in Burbank or Benton City? Let us help you think through some important factors before you make one of the biggest decisions in your life. Presented below are our tips about what you should deliberate on when searching for a new home. 

Your preferred lifestyle, priorities and future plans

Lifestyle

When choosing a new place to live, it's important to consider not only the home but also the surrounding area. Thinking about the bigger picture is rather an exception than the rule and a primary mistake many clients make entering this unfamiliar business. It’s quite possible that your lifestyle may play a major factor into what will fit you best.

For example, if you’re a first-time buyer who’s thinking about renting out part of your new home to help pay the mortgage, then you should look at duplexes or other multi-family units. If you plan to live in the unit yourself, you can finance it as your own property, get the same homeowners’ insurance rates as owner-occupiers receive, and maintain a separate space to rent. Or are you retiring, and need to find a smaller home with less of a yard to upkeep? Would a condo with a nearby path by the river fit your easing  lifestyle? Perhaps you have a growing family and aren't afraid of a little work. Maybe getting a home with more space that will need more TLC in the future will accommodate your families expanding needs?

Priorities

What's important to you?  Do you need anything in near proximity to your home? Do you want to reduce your commute time? Do you want to be closer to the water? Schools for your children? Do you spend a lot of time in the kitchen and need more space? Or is having an extra room as an office space paramount?  At some point, not every house will have everything you'll want, and you will have to prioritize the things that are most meaningful and essential to you.   

Future plans How do you see your future? Where do you see yourself in five years? This question sounds like a job interview but it’s useful in case of house hunting. Do you want to start a family, develop your top-notch office career, or maybe work remotely? The answer will affect your choice so give it some thought.    All of these factors are important to think about as you consider buying one of the largest investments of your life.  If you started this process six months ago on your own and have causally browsed the market,  then do yourself a favor and ask your realtor to set you up with a personalized feed from your local multiple listing service, and then have them walk you through the market realities today. Is it a buyers or sellers market? Does the type of home you're looking exist in your price range?    Let a Pathway professional walk you through the local opportunities in your area and help you craft a search that will best fit your lifestyle, priorities and future plans.