Homebuyers: Don't Compromise On These 4 Things!
In this video, you will learn that when you are buying a house there are 4 things you absolutely do not want to compromise on. It's true when you're buying a house you often times have to make some compromises but it is important you don't compromise too much and that you don't compromise on these 4 things.
Now as most of you know, the housing market is still very strong, and as a result, is still very competitive. I always tell my clients at some point more than likely they're going to have to make some compromises, it’s just the way it is. A great way to prepare for this take a sheet of paper and on one half right down your must-haves on the other half your would-like-to-haves. That's going to make these decisions down the road a whole lot easier and although you're going to have to make some compromises at some point, It's very important that you don't compromise on a few specific things…hence my list.
That brings us to #1 on the list, school district. If you have children, living in a good school district is obviously going to be very important to you. Some of you might not have kids though, and it’s just as important that you think ahead, plan for the future. Who knows, you might even end up having kids someday, but even if you don't, living in a good school district is only going to increase the value of your home. Do yourself a favor and research the best districts and the best schools in those districts. A great website where you can check all of this out on is Great Schools.org. Another great website where you can check out which school covers the area of the home you're looking to buy in is Resident School Identifier. I'll put links to both the sites down below.
Number two on the list is neighbors. It's a big one. You're going to want to do your due diligence here folks. You don't want to get stuck living amongst bad neighbors. If you're looking to buy a house, you're going to want to pay a visit to the neighborhood where you're looking to buy. Take a look around. How well kept our the surrounding homes? Do they need paint jobs? Do they do their landscaping? Do they mow their lawns? Is there trash on their lawns? Do they park their massive trucks and vehicles on their lawns? 😱 I don't know, all these things can have a huge effect on the value of not only their home but your home and the entire neighborhood. It's also a great idea to check out the volume of noise. Take a listen as you're standing there in the neighborhood. Do you hear constant dogs barking? Do you hear traffic noise? Do you hear freeway noise? Do you hear people fighting? Is there a school across the street where you constantly hear kids playing? If you're sensitive to noise, these things can really have a bad effect on your quality of life.
That brings us to #3 on the list, budget. Don't be lulled to sleep by the fact that you qualified for a certain loan amount and maximize your monthly payments based on that. The price of your home is only the first part of your monthly payments which includes: principle, interest, taxes, and insurance, or PITI. It's also a great idea to set aside some money for the unforeseen such as maintenance and repairs, and although they are unforeseen, maintenance and repairs are pretty much a guarantee at any given point in your home ownership. The idea here is that you can actually enjoy your home and not become a slave to it.
And last but not least, #4 on our list is the commute. Some of us can't afford to live right by where we work. Some of us don't want to live close to where we work, but it's important that you get real honest here with yourself about just how long a commute you're willing to make on a daily basis in that Los Angeles traffic. Who knows maybe your schedules flexible and it doesn't matter so much, but one thing is for certain, LA RUSH HOUR = NO FUN.
Buying a home is a very exciting proposition, but do your homework. Do your due diligence. Weigh all the factors before buying. As I said, you're going to have to make some compromises at some point, but don't compromise too much and I would suggest not compromising on what we just talked about, otherwise, you might not get to fully enjoy the experience of homeownership.
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