You’re officially ready to buy a home. Step one: Figure out what you’re actually looking for.
Whether you’re a first time home buyer or an experienced real estate pro, purchasing a house can get complicated. From combing through new listings to navigating the complexity of closing, it often feels like your move-in date is more of an “if” than “when” scenario.
Learn what to look for when buying a house to make the process a little easier — and how the team at Bungalo® can get you into your dream home even faster.
When you imagine your future home, what do you see? Is there a gorgeous kitchen, one-of-a-kind backyard patio and pristine landscaping? Or are your current qualifications simply four exterior walls and a functioning roof? If you fall into that second category, don’t stress.
There’s nothing wrong with going into your home buying search with an open mind. However, you shouldn’t ever feel like you’re settling for a house simply because it’s available. Instead, sit down and build a list that divides each home’s features into three categories:
By outlining some of your specific priorities, you can go into your home buying search with a clearer picture of what you want your future home to look like. Plus, you can save yourself the time and hassle of touring a home you’re uninterested in. At Bungalo, we try to make life a little easier by offering convenient, self-guided virtual tours that allow you to get more familiar with your options at your own pace.
Still not sure which features you actually want? That’s OK — you don’t know until you know. We’ll break down some of the most common characteristics homebuyers are often looking for.
Let’s start with your home’s interior. Some overlooked features that buyers realize they want later on in their search include:
Some of the other must-have features that the NAHB identified include energy-efficient appliances, an updated patio space and a walk-in pantry. To determine which characteristics matter most to you, think about the spaces your family spends the most time in. For example, if your primary gathering place is your kitchen, you may want counters that accommodate plenty of bar stools or a spacious dining nook.
We all spend plenty of time watching the pros on HGTV transform a run-down property into every buyer’s dream, but do you actually want to handle that process for yourself?
For some prospective homeowners, a fixer-upper can be a great way to snag a larger home at a more affordable price. Plus, you can customize the space freely and make it more your own. As you work to determine which options make the most sense for you and your family, keep the following questions in mind:
All of our homes at Bungalo have been recently updated and are move-in ready, saving you the hassle of any repairs or DIY projects. However, if you’re looking to customize your home, you can do so with the confidence that there aren’t any unpleasant surprises or unplanned costs waiting for you around the corner.
Aside from your home itself, one of the most important factors to keep in mind is where the house is actually located.
Think about the following attributes as you look around the area your home is in:
Just remember: Your home should reflect you and your family’s day-to-day life. So, while many homebuyers are interested in the considerations we listed above, some of your own needs and expectations may vary. Sitting down and talking with everyone who will live in your home is a great way to make sure you’re looking at properties that will accommodate your entire family’s needs as best as possible.
Once you’ve started to get a clearer understanding of some of the features and characteristics you’re looking for in your next home, you can narrow down your hunt to be even more specific. Some personal considerations that you should be sure to factor into your search include your long-term plans as well as individualized factors such as the price range you’re comfortable with:
Everyone has different needs when it comes to the size of their home. For some families, the bigger the better. For others, extra rooms just translate to more stuff to clean every week. Some important questions that will help you zero in on your specific space needs include:
As you work to determine how big of a house you’re interested in, one of the easiest ways to figure out your needs is to look at your current living space. Are you moving because you have too much or too little space? If so, you should be using the size of your house or apartment as a benchmark for the amount of square footage you’re looking for in your next home.
There’s nothing worse than falling in love with a home only to realize it’s totally out of your budget. Avoid the headache — as well as the heartache — by setting your price range in the initial days of your home search.
Once you decide you’re interested in buying a home, start thinking about your budget and get pre-approved early on in your search:
Working with your mortgage lender to get pre-approved can not only help you to narrow down your options and find a home within your budget, but it can also speed up the closing process on the other side of things.
If you’re not totally thrilled about your price range or the current state of the market, that’s more than OK. You may want to take a step back and decide whether renting or buying makes the most sense for you at the moment. As you consider which option works best for you and your family, keep the following considerations in mind:
There’s no one right way to become a homeowner. For some, your journey may start with a traditional starter house. For others, it may come later in life in the form of your forever home. Don’t feel as though you need to rush the home buying process. Take the time to make sure you get everything you want out of your space — no matter how long you plan to stay there.
Do you know what one of the most costly mistakes prospective buyers make is?
Have your guess ready?
The answer: skipping over a home inspection. Although there isn’t a law that requires a home buyer or a seller to conduct an inspection when purchasing or selling a house, making the decision to omit it can lead to some unwanted surprises in the long run.
A home inspection is your last opportunity as a buyer to uncover any hidden problems with the house before making the purchase final. Over the course of several hours, a certified inspector will walk through your prospective home to identify problems small and large.
As the American Society of Home Inspectors (ASHI) explains, the standard home inspector’s report will include a detailed audit of the following features of your home:
In the days after their initial walkthrough, your home inspector will send a written report containing details on everything they found. This will include notes and photographs highlighting potential health hazards, structural damages and any issues so you can see exactly where the problem areas are.
Depending on the size and severity of the problem at hand, you can often use what’s been uncovered during the inspection as a bargaining tool to lower the final purchase price of your soon-to-be-home.
The average cost of a home inspection is about $300 to $500, according to the Department of Housing and Urban Development. This bill is almost always handled by the home buyer during the closing process. However, the exact amount you pay can vary depending on the size of your house, its square footage as well as where you’re located in the U.S.
At Bungalo, we do everything we can to make sure your home won’t come with any surprise closing costs. That way you can move in with the confidence that you’ve made the right decision. All of our homes receive top-to-bottom inspections before you move in, so you can spend less time worrying about that suspiciously leaky pipe and more time picking out the right furniture for your living room.
Buying a house can feel like a never-ending process. That’s why we created Bungalo: to get prospective buyers like you into your future home as quickly as possible. With Bungalo, you can tour a property with the click of your mouse from anywhere, at any time. And, once you do find a home that has all your must-haves, all that’s left is to create your digital offer.
We believe you should feel confident in your homebuying journey. That’s why with Bungalo, there are no hidden repairs or unexpected outbids standing between you and your new home.
Check out our blog and learn more about homeownership.
This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.
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