Step 4: Looking at Homes

Ten Steps to the Successful Completion of the Home Buying Process

Once you have been pre-approved for a mortgage loan and hired a REALTOR® to assist you with the process, you are ready to start looking at homes that fit your individual needs and characteristics. Millions of homes are sold each year in the United States and there is no shortage of options available for buyers who are looking for a property.

Since there is always such a wide range of homes available on the housing market, narrowing down the number of available homes to a more manageable number is the most difficult part of this process. As a result, it is important to prioritize the features you want in your home and think about the preferred location of your home before you begin searching for properties.

Fundamentally, a home is more than just a simple collection of bedrooms, bathrooms and living areas. Each home represents radically different designs, commuting distances, lot sizes, interior dimensions and exterior finishes. All of these factors will influence the desirability of the home and must be accounted for during the home search.

Since each buyer will have different features and benefits in mind as they conduct a home search, it is important that you consider such things as pricing, location, size, amenities and design in mind as you begin the process of narrowing your search of the homes currently on the real estate market. Failing to consider these factors before your search could lead to dissatisfaction with your search results.

At the beginning of the process, it is okay if you are not exactly sure what features and amenities your ideal home will have – your REALTOR® can help shed light on what you or your family might need. As you begin the process of looking at homes that are available on the market, please do not worry if some of your preferences change. In working with your REALTOR®, you can simply make adjustments to your search as you go.

In most situations, it will be impossible for you to find the perfect home at the perfect price that includes all the amenities and features on your wish list. This means that you will most likely have to prioritize and consider some trade-offs to find a home that meets your needs within your budget.

For example, would you trade fewer bedrooms for a larger kitchen? Would you trade a longer commute time for a bigger house and a lower cost? These types of important questions are most likely going to come up during your search for the ideal home. Be prepared to answer these questions as they come up during the process.

In addition, you must consider whether your needs for housing are going to change within the next few years. If you will need a larger home in the future due to an expected addition to the family, then you would be wise to buy a larger home now rather than attempting to move in the future. As with all other choices, this may force you to make some trade-offs on other desires on your wish list.

Make a checklist of the amenities your ideal neighborhood would have. Popular features include pedestrian-friendly sidewalks, large lot sizes, low crime rate, public facilities such as parks and community centers, convenient transportation and well-maintained yards of homes in the area. Be sure to discuss your preferences with your REALTOR® so he or she can provide the information you need to make your decision.

All neighborhoods and communities have a special nature that gives them identity and value. One community may be well known for historic homes while another offers both suburban living as well as easy access to downtown office areas. Once you have had an opportunity to think about the values and characteristics that are important to you in selecting a neighborhood, you should ask your REALTOR® for help in selecting a neighborhood that exemplifies those values and characteristics.

Some buyers like to search REALTOR.com® by looking at listings on the basis of location or price; others prefer to have local REALTORS® suggest properties; and many buyers prefer both approaches. Regardless of your choice, it is primarily important that you target your search by using basic measures such as general location and affordability, which will allow you to refine your search and focus on homes that offer the most desirable features.