You’ve considered your budget and your location, now it’s time to get specific about the property itself. It’s important to be realistic. If you’re looking in a high-end market like San Francisco, you won’t find a three-bedroom, three-bathroom house with a yard on a $400,000 budget. Also, don’t sell yourself short. You might think it’s worth sacrificing a spare bathroom for a great neighborhood, but if you’ve got three kids, trust us, you’re going to need that extra bathroom.
Things to Consider When Choosing a Home
- Type of property (single family home, condo, co-op, etc.)
- Number of rooms
- Number of bathrooms
- Square footage
- Outdoor space
- Amenities
Don’t get too caught up on square footage. A large space won’t matter if the property is poorly laid out. Outdoor space might not be a deal breaker, but they do add significant value to a property, so you should give them weight. And be sure not forget about less obvious amenities like solar panels, high-end appliances, attached garages, energy efficiency, fixtures, and materials for flooring, counters, bathtubs, and sinks.
Talk to other people in the same situation as you and ask them what amenities turned out to be must-haves and if any sacrifices ultimately weren’t worth it.
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