Finance Globe

U.S. financial and economic topics from several finance writers.
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Base Your Home Search on These 3 Factors

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Buying a home is one of the biggest decisions of your life. For this reason, you need to be 100 percent confident in the choice that you make.

While there are many factors to consider during a home search, the following three should always hover around the top of your list:

1. Location, Location, Location

It’s no surprise that location remains a top factor when searching for a home. If you choose the right home in the right location you have a good chance of being happy with your purchase.

Conversely, if you choose a home in the wrong location (even a nice home), there’s a chance that you’ll be looking to move again at some point in the future.

2. Features

How many bedrooms and bathrooms does the home have? What size is the lot? Does the kitchen meet your specifications in regards to size and amenities?

Make a list of the features that are most important to you. As you visit one property after the next, also make note of which ones most closely identify with your vision of the “perfect” home.

3. Price

It would be nice if you could afford to spend whatever you wanted on a home. Unfortunately, most people never find themselves in this position.

You need to set a budget that is based on factors such as:

•    What you’re comfortable spending every month
•    What you qualify to borrow
•    Your personal financial situation (other expenses, job security, etc.)

If you want to make things easier on yourself, focus your search solely on homes in your price range.

Conclusion

There will be a lot going through your mind as you search for a home. Even if the three factors above aren’t the only things you will consider, they should definitely play a role in the search process.

Did you recently purchase a home? What factors weighed heavily in your decision? Share your personal experience in the comment section below.

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Comments 1

Frank on Tuesday, 26 September 2017 19:25

I recently purchased a home, and the #1 most important thing for my family was location and what school district we were in. I believe that is important for our family and helps re-sale value.

I recently purchased a home, and the #1 most important thing for my family was location and what school district we were in. I believe that is important for our family and helps re-sale value.
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Wednesday, 13 November 2019

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