Tag Archives: Considerations

Calendar Considerations When Buying A Home

Most markets are cyclical in nature. In practical terms, this means there are periods where the market in question is very busy and periods where it is very slow. Many people are surprised to learn this also applies to the real estate market.

Buying a home in a seller’s market is tough. In contrast, buying during a slow market is an incredible opportunity. You have a chance to get in at or near the bottom floor of prices. If you can keep focused on the future, you can really make a killing. Yes, you might see the value of the home drop a bit more, but the key is to focus on 2010 and beyond. That may seem a long way away, but the real estate market will bounce back and have returned to typical highs by then. This is where millionaires will be made.

Since you’ve seen the cyclical nature of a sellers’ market versus a buyers’ market, you can see the power of buying or selling during each of these markets. Well, the good news is there are actually busy and slow times within each calendar year.

Nearly every real estate market can be timed year after year. A classical perfect time to buy is during the winter holidays. Why? Well, think about it. How many people are out looking for homes around Christmas or New Years Eve? Not many. This creates an artificial buyers’ market because the number of buyers interested in purchasing a home is greatly reduced. This period usually lasts from November through February.

Given the rather cold nature of winter, it is hardly surprising to learn that the real estate market is slow during the winter months. You might be surprised to learn that the same is true when things heat up. Specifically, the real estate market tends to cool off from July to August. Why is this? Well, families tend to head off on vacations and get caught up in dealing with the kids. There is little time to house hunt and real estate markets tend to slow down, which makes them prime buying time.

Location may be the number one rule for real estate, but knowing when to buy is important as well. It can make the difference between getting a great deal and buyer’s remorse.

6 Home Buying Considerations Other Than The House

We often focus on the bones – of – a – house, when deciding whether to purchase a particular residence, but, while that’s essential, an educated home buyer, recognizes and realizes, there are other relevant considerations, as well. In fact, before one, should even view and/ or consider a particular house, he should thoroughly consider these factors, to ensue he will also be happy, and satisfied, living there. With that, in mind, this article will attempt to briefly, examine, review, and discuss, 6 important home buying considerations.

1. Location/ convenience: A central premise in real estate, is, Location, location, location. The greatest house, in a less – than – optimal neighborhood, and/ or area/ location. serves very little positive, productive purpose! Some of the factors included in this sub – topic, include: Does it meet your personal needs?; Does it simplify or complicate your life/ existence?; Are the things, you personally, prioritize, readily available, and convenient, in this location?

2. Safety: Check the safety statistics of the areas, you are considering. What are the crime rates, relative to other alternatives? How safe does the area make you feel? Will your house be safe, largely free – of – crime, and is there, little crime, vandalism, etc, in this vicinity? Who wants to live somewhere, where he feels unsafe, and/ or insecure?

3. Education: Whether you have school – aged children, or, simply, want to assist your future ability to re – sell the house, the local school system, must be, both, actually, as well as perceived as, being superior, and above – average! If you have children, you want them to get the best education, possible, from the local schools, wouldn’t you?

4. Transportation: Since many individuals commute to work, the ease, quality and/ or convenience of mass transit, is often a relevant factor. In addition, how easily can one get to places of interest, including shopping, the arts, etc?

5. Shopping: Most people want their essential shopping, to be as easy and simple, as possible! Especially when this comes to food shopping, pharmacies, and conveniences, individuals would rather, not have to go out of their way, to do, what they feel, most essential.

6. Specific neighborhood: Even within the same, basic area, there are often significant differences, from neighborhood, to neighborhood. Where I reside, some people live uptown, while others prefer living near the water. Depending on one’s personal priorities, and preferences, this often makes, a significant difference, in where one wants to live. Speak to some of the neighbors, and determine, if you’d like to live there!

Using these 6 home – buying considerations, often, help people determine the best place, for them, to live. Will you do what’s in your personal, best interest?

8 Essential Considerations Before Buying A Specific House

Since, for most Americans, their home, represents, their single – biggest, financial asset, wouldn’t it make sense, for these individuals, especially, first – time, homeowners, to proceed, in the finest, well – considered, manner, in order, to find, what they need, can afford, meets their objectives, etc. With that in mind, this article will attempt to briefly consider, review, examine and discuss, 8 essential considerations, which should be thought about, and pondered, before purchasing their new home.

1. Property required: Fully consider, the overall size of the property, you need, and require! Remember, the larger the property, the more expensive and involved, it will be, to maintain, etc! It’s not merely the size of the property, but, also the usability, of it, which means, is it a cleared lot, as well as whether it is level, and will meet your personal needs, and requirements. Are you ready to perform, all the necessary maintenance, and up – keep, or can you afford, to pay someone else, to do it for you?

2. Overall size of the house: What size house do you need? How big, is too large, and how little, might be, too small? Is there any correlation between what you aspire for, versus, what you can actually afford, and really, need? It’s important for potential homeowners, to arrive at the ideal balance, for their particular situation!

3. What can you afford? Don’t make the mistake of becoming house – rich, and otherwise, poor! Consider your present and future earnings, what you can afford and qualify for, up – front, as well as on a regular, monthly basis! Are you prepared for contingencies, in order to achieve happiness, from living there?

4. Comfort level: Consider your personal comfort zone, and what that level, means and represents, to you! What do you seek, and will it meet the combination of your physical and emotional needs, and requirements?

5. Bedrooms needed: How many bedrooms, do you presently require? What do you believe, your future needs and requirements, might be? Do you anticipate having overnight guests, and thus, need extra space, for those requirements? A house will not serve you, if it doesn’t meet your needs!

6. Kitchen: Consider the size, shape, design, potential, cabinets, and appliances, as well as what you can afford, versus your needs. For most, they spend much of their time, in, and around, their kitchen!

7. Living areas: Look at the house’s flow, and whether the living areas (actual, as they exist, as well as its potential), meet your present, as well as perceived, future needs. The living and socializing areas of your house, often make a huge difference, in whether you are truly satisfied, living there!

8. Bathrooms: How many bathrooms, do you need, and how many, might you like? Describe them, in your head, and consider, the possibilities and potential, as well as costs.

Before one buys a home, of his own, it is important to evaluate and consider, whether living there, will meet, and exceed their needs, and expectations. When buyers take the time to do so, they generally are happier with their decision and selection!