Are you thinking about buying a new home? Whether it’s your first home or an addition to your property portfolio, buying a new place can be complex. There are many things to consider – from how much you can afford to its location. But perhaps the most critical question you need to ask is, what do you want in a new home? Here are 5 things to consider when making a must-have list of what you want in a new home.
Who Will Live in the Home?
First, you need to determine who will be living in the home. Depending on their age, certain features may be more important to one buyer person than another. For example, suppose you’re buying a home for your parents or have a growing family. In that case, things like indoor play areas, a larger kitchen, or a garage conversion to a multi-purpose room are significant considerations.
What are Your Must-Have Features?
Many features come standard on new homes now, so you probably don’t have to worry about not having a dishwasher or garbage disposal. Some of the essential elements to consider when making a must-have list of what you want in a new home are:
- House size
- Floor plan
- Kitchen design
- Single story vs. two-story
- Central HVAC
- Electric or gas appliances
- City water or septic tanks
Don’t Forget About Resale Value
When making your must-have list for what you want in a new home, don’t forget about resale value. While it’s important to consider what you want in a new home, you also need to think that you may want to sell your home in the future. Resale value is the amount a home is expected to sell for when it’s time to move on.
Some features add to a home’s resale value, and others may reduce it. Some things that may affect resale value include the neighborhood, the type of home, and the home’s condition. For example, a house with a great floor plan and modern features will likely have a higher resale value than a home with a dated layout and old parts.
Check Out the Neighborhood
When making your must-have list, don’t just think about the home itself but also the neighborhood. Where you buy a home will impact your daily life, including commute time, walkability, and even property values.
Some neighborhoods are walkable, while others are great for commuters. Some are great for families with young children, while others are great for retirees. There are even some neighborhoods that are friendly to both. When making your must-find list, make sure to research the area. This will help you narrow down your list and determine what you want.
Consider Cost of Upgrades or Renovations
Some of the features you wish for in a new home may require an upgrade or renovation to make them happen. First, you need to determine how much the upgrade or renovation will cost. You need to consider the cost of hiring a contractor and the cost of materials.
Once you know how much the upgrades or renovations will cost, you can consider them when making your must-have list. It might be cheaper to spend a little extra money on a home that already has what you want.
When making your must-have list for what you want in a new home, you need to be realistic. It’s important to make an attainable list so you don’t get discouraged and give up on the process. While it’s important to think about what you want, it’s also essential to consider what you can afford. This will help you narrow down your list.
Work with the Best Realtors
The other must-have for your new home is a top-quality realtor to help you find and buy it. CM Fox Real Estate is one of the leading real estate agencies you can work with to find your new home. We have helped thousands of clients find the right home for them at the right price for their budgets. Let us help! Contact CM Fox Real Estate through our website or phone at 518-861-7030 to set up a consultation.