Plenty of people buy a “starter home” before they move on to upgrade to a “forever home”, but in some cases, it is better to try to think into the future and buy the best house right away. Even if a house is perfect for what you need right now, try to imagine yourself 5, 10, or 20 years from now. If you have kids someday, is the house going to feel too small? You will save yourself a lot of time and effort from moving place to place by thinking into the future.
If you are very insistent on having one or two particular things in your future house, you are going to have a very hard time finding something that fits your every single one of your needs. For example, if you must have a wrap-around porch or a swimming pool, it could limit the possibilities in your home-buying search. Try to be open-minded, and remember that you can always add upgrades later after you settle down.
When you move into a house, there could be things about the property that may end up with someone getting sued or seriously injured. For example, are there dead trees that can possibly fall on your neighbor’s roof? Is there a rusty swing set in the backyard? Is the floor about to cave in? Calculate the cost of getting these things fixed, because they need to be dealt with almost immediately to prevent something terrible from happening.
Even if you are perfectly healthy, you never know if you will get sick or injured. Check for doctor’s offices that accept your insurance provider where you live, and make a test drive to the nearest hospital, so that you know where to go in case of emergency. If you or a family member has a pre-existing health condition, proximity to good health care can make a huge difference.
It is a very good idea to get homeowners insurance when you buy a house, but make sure to ask the right questions about the policy with your insurance agent. For example, if a house is located in a floodplain, the insurance company might refuse to give you flood insurance, because they do not want to give you a payout.
Normally, it’s not polite to stare, but you should try to pay attention to the type of people who live next door or on the same street. Your interaction with your neighbors makes a huge difference in the comfort and happiness of your new house. Some obvious red flags to watch out for are lawns that have not been cut in ages, old broken-down cars sitting in the yard, or any signs of anything dangerous like gang activity.
If you have dogs or cats, this house will be their new home, too! Keep them in mind when you are looking at a potential neighborhood to live in. How easy or difficult would it be to walk your dog in the morning? If you don’t have a backyard, is there a dog park nearby for them to run around? Depending on how seriously you take your furry friend’s well-being, it may narrow down the options of where you can live.
Before you jump into the huge responsibility of buying a house, ask yourself if you are truly prepared for the worst case scenario. Do you have enough money saved to continue paying the mortgage if you lose your job for a couple months, or you need to have a surgery? What if you get a divorce? These are not nice things to think about, but it is better to have a game plan than to be caught off-guard. Too many people lost their homes in the 2008 recession because they were not prepared for the worst. It’s not good to dwell on the dreaded “what if”, but by preparing for anything, you can stay calm and enjoy your new home to the very fullest. Good luck!