If you are looking for homes for sale for the first time, then you probably don't know some of the most important factors to consider, or their significance. Here are some of the things you may not consider important now but may prove very significant later on:
Consider the Resale Value
Even if you plan to live in your next house for the rest of your life, you should still consider the resale value since there is always a chance you may change your mind later. For example, you may need a bigger house if your family unexpectedly grows, you may need a smaller home if your finances fall or you may be forced to sell the house during a divorce. If any of these things happen and you need to sell the house, you can lose a lot of money if you hadn't considered the resale value earlier on.
Evaluate Recurring Expenses
The cost of owning a home goes beyond the initial expenditures; there are recurring expenses that you have to bear as long as you own the house. Examples include property taxes, home insurance, utility bills, and maintenance costs, among others. Project how much you will need to spend on these things and confirm that you will be able to afford them all without depleting your regular disposable income. Otherwise, you will find it difficult to continue living in the home if your income falls even a little.
Understand the HOA Rules
If your potential home is under the jurisdiction of a homeowners' association (HOA), then you need to scrutinize its rules carefully and confirm that you will be able to abide by them. Few things are as difficult as living in your home while being controlled by rules and regulations of that you find archaic. Scrutinize the HOA rules so that you don't end up buying a home where you aren't allowed to keep more than one pet while you have always dreamed of owning three cats.
Prioritize Your Needs
Lastly, you should know that buying a home is an emotional process, especially for first-timers. Even if you aren't normally emotional, you may find yourself getting affected when you land a home that has a porch that is exactly like the one you used to play in your grandparents' home. Unfortunately, you can end up buying the house with the nostalgic porch only to find that its plumbing system needs a complete overhaul if you aren't careful. Making a list of all your must-have features and systems, in order of priority, will save you from such emotional blunders.
Once you sign the sale contract with your listing agent, there's a good chance that things will start moving quickly. Your agent will want you to stage your home for the listing photos, open houses, and showings. If you've never experienced the staging process, you may not know exactly what to do or where to start. The information on this site will help you to not only understand what's expected of staging but also offer tips for you to maximize your efforts without investing a lot of time. I hope the information here makes your home sale process a little bit less confusing and a little easier to manage.