Buying a new home comes with a lot of decisions to make, from the neighborhood to the cost, but a major aspect of the process that you may not have considered is how long you want to stay in the home. For some, buying a starter house is much more budget-friendly and allows for some flexibility down the road, while others want to secure a forever home right away and avoid having to pack up and move again. Think about the pros and cons and utilize the services of pros when you’re ready to choose. Windsor Realty Services can help you find the perfect property either way. Here are a few things to think about that may help you make a more informed decision:
Weigh the pros and cons
When buying a home of any kind, it’s important to weigh the pros and cons. Purchasing a starter home may mean a lower down payment and mortgage, but it also means you’ll have to perform the homebuying process all over again down the road, and selling a starter may be more challenging than selling a larger house. Investing in your forever home eliminates the need to worry about selling or moving again, but the cost is considerably more and it may require expensive maintenance and higher utility bills. If you already have a family and need the space to spread out, a larger home may be the way to go. Just starting out? Buy a starter home so you can save on initial expenses and put money away for later.
Consider your future needs
It’s also important to consider what your future needs will be when making a decision on which type of home to buy. For instance, going with your forever home means making sure there’s enough room for your family, but it also means ensuring that you can age in place. You can make modifications for safety at any time, but finding a home that is already one level or has wide doorways and low countertops could save you quite a bit of money down the road. Create a checklist of accessible aspects to look for in your new home.
Know the risks
No matter what type of home you’re looking to buy, it’s important to understand the risks that come with certain sales. We’re all aware of the need to save money, especially with major purchases, but saving on a home can sometimes come with challenges. If you’re faced with an “as-is” property, for instance, it may seem like a dream come true, but these listings need to be carefully examined by a lawyer and inspector who can tell you whether there are any red flags on the property.
Once you’ve settled on a home, it’s also critical to consider which type of insurance you need. While homeowner’s insurance will only cover theft, injuries, and damage to the structure, a renewable home warranty will take care of costly repairs to appliances or major systems, such as electrical and plumbing work. Before choosing a company to work with, read their home warranty reviews to find a good fit.
Make moving as simple as possible
When you’re ready to move, it’s important to make the process a smooth one by planning carefully for the big day. This means sorting your tasks according to the kind of home you’ve chosen. Starter homes are typically on the smaller side, so it’s a good idea to go through your belongings and pare down; donate or sell items you no longer need and use helpful apps to stay on top of everything. If you’ll be moving into a larger home, pack as efficiently as possible and stay organized so nothing gets lost. Before hiring a moving company, check out their website and read reviews of their work prior to requesting a quote.
Finding the perfect home can take some time, so don’t rush the process. Create a list of your wants and needs to help you make a better decision, and work with a great realty team who can help you find the best possible property.
Ready to get started with your search? Get in touch with Windsor Realty Services today.
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