Choosing the Right Home

Create equity if you can.

Are you handy? Do you have experience in rehabbing old homes? First time home buyers stand the best chance of finding a home that fits their needs if they have the willingness to do some work … just be careful. In a lot of cases, first time home buyers tend to underestimate the time and money required for large rehab projects. Additions, kitchen remodels, even redoing the bathrooms can not only cost you a few bucks but may take a lot of your time to complete. Use your real estate agent as a resource and try to thoroughly understand what it is you are getting into before you choose a home to make an offer on.

The on-going love affair with older homes.

In Ulster County, older farms and stone houses are at a premium and although they may have charm and character managing an older property requires money, time or both. A good home inspection can give you a good idea of what to expect as home owners in years to come but can never fully prepare for every problem that can come into play.

What is your style of home?

By now, you have probably given this a little thought. It is a good idea to go over the different types of homes to see how they fit in with the rest of your home buying requirements. Do you prefer a neighborhood ranch, a luxury condo or that quaint secluded mid-century Victorian on the dead end street? If possible, choose a home that not only reflects who you are, but how it provides for your needs and the needs of your family.

Stay realistic about your home buying requirements.

The more money you spend, the more likely it is that you will find a home that has everything you are seeking, seldom do you find a home that will that will have every requirement on your list. If you are a first time home buyer with a limited budget, it is even more probable that you will have to compromise on some of the items on your dream home feature list. To make the best decision, it is important to prioritize your requirement list putting the most important items on top (things you can absolutely not live without). The home that you finally settle on should have the important features as well as the ability to add the dream features down the line or sell and upgrade. The average home buyer stays in his or her home for a little more than six years before moving on to something better.

Location, location, location

One of the biggest things on most home buyer's lists is location. Some serious thought should be put into commute, schools and lifestyle preference. If sitting in traffic or taking the train to complete a daily, two-hour commute to work is not your cup of tea, location is truly everything. School systems should be a big influence in choosing an area. In Ulster County we have several great school systems that can be easily researched by going to the New York State Board of Education website. Your lifestyle is also a big consideration with regards to locality. Being close to restaurants, entertainment, shopping and other lifestyle amenities can make life more fun and enjoyable.

Don't forget resale value

Your home buying plan should always incorporate the consideration of future resale value. When thinking about all the reasons you would buy the home also think about how it would appeal to home buyers in the event that you needed to sell it. The home buying process is so exciting that resale value if often the last thing on your mind. Also, do your best to find out if any commercial construction or infrastructure projects are planned in your area. No one wants to buy a house facing a brand new warehouse pr commercial structure.

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