What Every Home Buyer Should Know About Buying A Home
How long do you want to live in your house? You are just thinking about buying a house
. Do you really need to start thinking about selling the home you haven't even bought yet? Well, probably. In order to buy the right home for you, you need to answer the question "how long do I want to live here?"
As home buyers, it is important to be realistic about your current lifestyle, and your future. Certainly, no one can foresee the future, but you can make realistic estimates.
The three most common reasons to move are: "moving up", family, and work.
According to the Current Population Survey, moving into a better home in a better neighborhood is the reason that more than one third of moves occurred. One quarter of motivated by family changes, the second most common reason. In 2009, less than 1/5 of moves were due to changes in work, like a new job or losing a job.
You can help prevent moving before it will make sense financially if you carefully consider these motivating factors. Discuss your ideal neighborhood, home, family and career plans with your exclusive buyers agent.
Exclusive Buyers Agents ask about home buyers' future to find the perfect home.
*How long do you expect to live in this home? Under a year? 3-5 years? 30 years? *Do you predict any changes in your family? New kids, pets, spouses? *Are your needs going to outgrow your house? Are you planning to purchase another car, boat, etc . that will require more space? *Are you planning a major career change, or working in a different location?
These are just a few examples of how your lifestyle and needs impact the qualities of your new home, suggests our exclusive buyers agents. For example, if you are planning to get a puppy, you may want a dog friendly yard.
Certainly, life can take unexpected turns. But, the more honest you can be with your exclusive buyers agent about how long you want to live in a home and what your needs will be during that time period, the more likely you are to find the perfect home for you.
Avoid Selling During a Bad Time
Aside from the benefit of having your home meet your needs, you can avoid selling at a bad time. You will often hear about "buyer's markets" and "seller's markets" in the news. The market conditions can have an enormous impact on the financial gain or loss when you sell your home. Unfortunately, it's difficult to predict when the market will become a seller's market and how long that will last.
Agents who have seen many booms and busts recommend that historically, once the market goes down, it has gone up higher than the one before. If you can hang on to your house until the market turns, you just might make some money.
Careful planning about your future will allow greater flexibility when it comes time to sell.
by: Kathleen Chiras
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