Luxury home

Published on October 29th, 2016 | by Balanced Family

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What Should I Know Before Buying A New Home?

Real estate

Are you looking into buying a new house? There’s nothing quite like choosing to build a custom home. The freedom that comes with being a homeowner is almost unparalleled and a dream many chase for years until fruition. However, buying a home requires you be smart when browsing and careful when sealing the deal — with everything to consider from home insurance to mortgage payments, the last thing you want to do is create a weak foundation for the future. Whether you’re a first time buyer or are venturing back into the world of real estate, the list below is a good start to help keep your goals realistic and your dreams within reach.

How Many People Are First Time Home Buyers?

Buying a new house for the first time? Don’t be nervous! Studies have shown over 32% of people looking into new houses and condominiums having done so for the first time. For nearly 45% of recent buyers the first step they take in the home buying process is checking online properties for sale, with another 14% of buyers contacting a real estate agent to help them with the basics. Some of the most common reasons that go into buying a new home are job changes, marriage and a desire to live in a neighborhood with more opportunities.

How Many People Are Second Time Home Buyers?

Not everyone who buys a home is a first time buyer — some people have been through this whole song and dance before! Despite this, second time buyers share a lot of similarities with first time buyers. According to a 2015 study conducted by the Annual National Association of Realtors, it was found that nearly 90% of buyers purchased their home through either a real estate agent or broker. Another 88% said they would use their agent again if the time came.

What Are Common Homeowning Preferences?

There are some additions that just can’t seem to be replaced in homes old and new. Studies have shown at least 60% of buyers willing to pay extra for good central air conditioning, new kitchen appliances or a walk-in closet in the master bedroom. Another 40% of home buyers without a fireplace said they would spend additional money to get one installed. When the season gets cold and heating bills are at the forefront of your mind, a good fireplace can easily make or break a deal! Similar preferences include a nice front yard, a large backyard and well-placed landscaping additions like trees and shrubbery.

What Are Common Mistakes People Make?

The last thing you want to do is spend excess money or waste time looking in the wrong place when trying to buy your first or second house. The first mistake you need to avoid is searching for reviews without photos — studies have shown future homeowners gleaning better and more accurate information with useful online photos than without. A less common mistake, but one that bears repeating nonetheless, is not having a real estate agent on hand to help out with the application process. If you’ve already avoided these pitfalls, you may just be ready to buy a home.

Where Can I Start Buying A New House?

When buying a home you need to take into account all the basics. A 2015 study saw 30% of all homeowners purchasing a home for the simple desire of having a house to call their own, with a significant number also choosing a new home due to a new job or lifestyle change. Buyers typically searched for 10 weeks, on average, and looked at a median of 10 homes before making a final decision. If you have even the faintest concern that the house you’re looking at may not be for you, there’s no reason to follow through and regret it later. With so many good homes for sale and real estate agents available to help, you can be buying a new house sooner than you expect.


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