I have been looking for a new home and I am feeling a bit overwhelmed. I have spent hours searching on line and narrowed down what I was looking for. Then went to an agent and we went and looked at 4 homes today. The one I was excited to see was ok but not the "gotta have it" feeling I was hoping for. I did find a house I fell in love with but on the high end of my budget. I was ready to put in an offer but then decided I should take some time to really think about it. The area I live in is so diverse there doesn't seem to be a reason why one is priced so different than another. Trying to figure out why a house with 23 less acres, 100 less square feet, and smaller garage is $25000 more in price and if I am willing to look in the village rather than the country I could get a house for the same price but 1200 more square feet! I don't know what questions to ask to figure out if it is worth maxing out my budget.
First of all, Lynn416m, Welcome to the Real Estae Boards!
We are all very helpful here BUT, you will need to decide exactly WHAT you are asking before any of us can help ....
Take your time and make sure you have all of the financial costs at the top of your mind; yes, prices will vary greatly ~ up to you to figure out why....
Seriously, I don't think you are ready to buy - spend a year or so going to Open Houses, comparing the various advantages and disadvantages; tax consequences and, most of all, what do YOU really want? DO NOT BUY AND/OR MAX OUT YOUR BUDGET until you are totally sure.
That is such an awful feeling. What you see on line does not always reflect the actual property. Happens to me all the time. I'm wowed by a listing for a client, I go and preview and walk out - meh.
Like IR posted - take your time. Talk to your real estate agent about the pricing. But to help her/him you need to have a firm grip on what you really want.
What is your budget? Not what the bank says you can borrow but what you will be comfortable paying.
Do you want to live close in or out in the country?
How many acres are you willing to manage and be responsible for?
What size house?
What layout appeals to you?
Fixer or turn key?
Do you want septic, private well, etc or county/city services?
Drive around and get an idea of what appeals to you. Discuss pricing with your agent. She will know why one property will bring a higher price than a larger property.
But you need to know what you want first.
Good luck and report back.
There's a lot of talk right now about the real estate market recovering, and I think buyers are feeling pressured to move before the prices soar. But you'll find that most economists don't expect home prices or interest rates to increase very much for several years. Of course, each neighborhood is unique. But, in general, you probably have plenty of time to make a decision.
So I guess I'm repeating what the previous two posters said: Take your time; do some research.
Good luck to you!
Just a few comments from personal experiences:
We've had septics twice; run from them!!!
Had three basement houses: run from them!!!
Fixers take at leasttttttt twice the time/money you have budgeted; not to mention heavy strain on relationships.
Neighbors/neighborhoods can make a huge difference; talk to them and tour the neighborhoods at night, weekends, after-school hours, etc.
Look at lots of model homes and see if you can go with all new; I doubt anyone has ever been sorry. But, be sure you are dealing w/reputable builder; some aren't.
Welcome...and I hope I helped a little.
Like the others said - take your time..... Breathe, eat some chocolate (maybe have some wine) and step back. Now, get a piece of paper and write down what you want. How many bedrooms, how many baths, do you want a big yard, do you want to be in town, do you want a neighborhood - and if so, how big, are the schools good - and where do you want your kids to go to school.... Not sure where you are, but are there any amenities in the house that are have-to-haves (we needed 3 car garage and a pool, what are yours?). And REALLY think about where you want to live - location, location, location, location, location...... What will the commute to work be like? Now once you have that list, some of the homes you're looking at will fall off the list. Really focus on what you want, because otherwise, you can spin looking at everything. Figure out the where, then figure out what is available there.... Best of luck - but eat that chocolate, it's a great first step.....
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