When buying a new house, it’s easy to get distracted by size and think that bigger is always better.
However, depending on your situation, the complete opposite may be true.
So how can you determine if the new home you are looking for is too small, too big, or “just right?” You’ll want to consider weight these questions.
What is Your Long-Term Goal?
How many years do you see yourself in this house? Is this a starter home that you may turn into a rental in the future? Is this location the best for your commute?
Is this the place where you want to raise your kids and retire?
If not, then size shouldn’t be as crucial as you think. Consider the fact that you will likely move again, which means that you can upgrade in the future if necessary.
What’s Your Financial Limit?
You don’t want more home than you can truly afford. No one wants to be ‘house poor’ where you get into huge house but can only afford to eat on a college students’ budget. While you may be getting that promotion in a couple of months, you can’t buy now expecting to have more money in the bank later. Overextending your financial reach is always a bad move, so it’s best to avoid putting yourself and your family in that position.
How Many People are Living Here?
In a perfect world, everyone would be able to have their own bedrooms, but when you have kids, that’s not always possible. When thinking about this situation, consider how imperative it is to have sufficient space for everyone, and what it will do to your budget. Overall, buying a home should be about your current needs and how you plan to grow into space in the future.
Don’t buy big for the sake of showing off - you’ll regret it.
It doesn’t make sense to try and keep up with the Jones. They are not making your mortgage payment.
As your REALTOR®, I will work with your mortgage lender to help you find a home comfortably in your budget. I can also help you get your property ready to sell, if you are considering upsizing or downsizing. Learning what your specific needs are, is the key to helping your reach your real estate goals. Let me be your guide through the home selling, and buying process. Call me today at 720.675.7355 or email me at donnahansenion (@) gmail.com.
Author:Donna Hickey Hansen Phone: 303-949-3393 Dated: April 16th 2018 Views: 609 About Donna: As a Realtor and real estate investor, I love finding first time home buyers, move-up buyers and inv...
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Ion Real Estate is a hand-picked team of highly respectable experienced Realtors coming together to work with you. Please contact us anytime with any questions. We look forward to serving your Colorado real estate needs. Our experience and dedicated professionalism ensures our clients have exceptional representation every step of the way. At a time where bigger isn't always better, Ion Real Estate has chosen to remain a smaller, highly focused team in order to provide a level of personal service, attention and consideration to our clients that you simply won't find elsewhere. Our decades of experience in the unique world of Denver real estate positions us advantageously to handle all of your real estate needs
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"When I decided to sell my home and look for a new place, my first call was to Jim and Ion Real Estate. He listed my condo and in two short weeks my place was under contract. Now, the real fun began, looking for a new place! The Ion Real Estate website was great. I loved the map function and the emails it sent with new listings that matched my previous searches. On Saturday, Jim and I headed out to look at several places I had picked to see. At the time I didn’t really notice how he listened carefully to everything I said about each place from the lighting to the layout. I was even a little sad that I didn’t find anything that day but Jim reassured me not to worry and a week later he had set up some more appointments. I still remember walking into my new place and just knowing. I had only taken two steps into it and I knew I wanted it.
Next came the easy part for me, but this is where having the right realtor and mortgage broker is essential. They make it seem easy! Jim guided me through all the aspects of my sale and purchase. I appreciated how simple each step seemed from making an offer to dealing with inspections. Even the loan seemed easy. I asked a ton of questions, I think it’s the teacher in me. I wanted to understand all the moving parts. Jim explained everything so clearly that I joked that he missed his calling and should have been a teacher, but he didn’t, I’m glad he is helping people find their homes!
Recently one of my close friends mentioned she wanted to stop renting and buy. I immediately referred her to Ion Real Estate. This time I was able to watch with an outsider perspective at the way Jim cued in on my friend’s preferences. Stephanie kept talking about the charm of old houses, a far cry from the sleek modern condo I chose. By the second house-hunting excursion, Jim knew just which home she would pick. As we walked up to the front porch, I saw Stephanie with the same excitement I had felt just a few months earlier. I watched her mentally move in her furniture and this time I saw the smile that crossed over Jim’s face when he knew Stephanie had found her home.
Throughout both experiences, it was clear Jim understands what people want in their homes and how to structure the entire buying experience to be a positive one. I have heard so many crazy stories from people that didn’t chose the right realtor or mortgage broker. They always start by saying, “I didn’t think a realtor made any difference.” It makes a difference! It made a difference for me and for Stephanie. Owning is better than renting; and, it is even better when Jim and Ion Real Estate are guiding you through the process!