Sharon's Blogs
Take This Quiz Before You Buy Your Next Home!
Too Big, Too Small or Just Right?
First Things First
Take This Quiz Before You Buy Your Next Home!
Who, what, when, where, why and how.
In Journalism class in college, these were the questions to answer. Fast forward 30 years and this formula is quite helpful for buyers looking to purchase a home that best meets their needs!
Let’s start with “who.”
Who do you need to focus on when choosing your next home? For many families it’s children and a desired school district. For others, it can be a spouse, seeking a shorter commute to work. Possibly the “who” in your search to satisfy is extended family that come to visit creating a need for a 2nd “master retreat.”
What is it about your current home that you would want to change? One of the best ways to determine what is important in layout and livability comes from living in a home that doesn’t meet our needs. Think outside the box! Often buyers are looking for change…from no longer needing a Two Story, to desiring Ranch style living. Some buyers prefer a Story and a Half…which features the master on the main, with 2-3 BR’s and a full bath upstairs. Possibly you are seeking a lifestyle that allows for more travel, less home maintenance. Townhome living may be the answer.
When do you want to move? Timing is everything. After a child leaves for college? Let’s talk now. As soon as possible? We need to look at the sale of your current home, if those proceeds are needed to purchase a new home…and how we can time both out! No matter when you want to move, you will want to be pre-approved. This gives you a leg up on having your offer accepted, and gives us a comfortable price range to search.
Where: Location, location, location!
This is a critical question and deserves a lot of consideration. Access to freeway, shopping, schools, parks, bike trails, it’s all important! Please give this question a lot of consideration. Drive the areas you are considering ahead of time, and do this during different times of the day to see if traffic is an issue for you or not.
When do you want to make a move?
We typically see more homes hitting the market in the spring. It’s nice to have good inventory to search from when looking for a home. But it doesn’t always time out that way! In the late fall, home prices can drop, as sellers and builders alike aren’t interested in heating homes, clearing snow, etc. So sometimes this is a chance to get a good price on a home.
Why do you want to move?
This is really the BIG question! The “who” and the “what” all tie into the “why.” Just make sure you are truly asking yourself/yourselves this question…and focus on the answer when making your list of wants and needs! If there are two of you, TWO LISTS please! They probably won’t be the same. Super helpful for your Realtor. And I hope that Realtor is me!
Too Big, Too Small or Just Right?
In Real Estate Terms, we call finding a home that best suits our needs Right Sizing or Smart Sizing. Often times empty nesters want to sell a big 4 BR 2 story, but they still want space, for grown children and possible future grandchildren. The home they want might not be smaller, but just designed for layout and livability on the main floor, visiting guests in the finished LL or upstairs, as a story and a half would offer.
There are advantages to right sizing:
Budget! Move to a less expensive home and save more for your retirement!
Stress Relief! Right size well before retirement and your adult children will be happy-that big family home filled with memories can become more of a burden when there is an unexpected illness or death
This being said-never feel rushed into a major decision like leaving a home filled with memories. Make sure it is your decision. If you choose to stay, I would recommend a Certified Aging in Place Remodeler, a member of the Remodelers Council of Greater DSM.
The biggest advantage to right sizing is having a comfortable home that is affordable and meets your long term needs.
When right sizing, think about spaces that can serve multiple uses. An office could double as a bedroom with a Murphy Bed built in and a ¾ or full bath nearby.
Focus on the space and how it can best be used. Well before your move, invite a friend over to help you go through that bulging storage room and have: Donate/ Toss and Save areas designated…and you will better know how much storage space you’ll need in that next home! Your friend will be honest, so be sure to have them there!
Be realistic. You may not need a 3- car garage, and if we only search 3 car garages…we may miss out on a spectacular right-size home or townhome, and this would be a big disappointment.
Working on your Wish Lists ahead of time helps me narrow down the search and prevents you from looking at homes that truly don’t meet your needs!
Location is big for right sizing. Think about where you want to be, and what you want to be close to. And remember, this is Iowa! Weather can really play a factor!
First things First!
Once you decide it is time to make a move, there is an order that should be followed.
Now what usually happens is people go to an open house, or enlist a Realtor, think they need to find a house they love and then they can just buy it! Well, this is wishful thinking…..but it can lead to real disappointment.
What needs to happen is:
First and foremost, see a lender!
A lender will pre-approve you, based on income, assets and credit. A pre-approval letter is necessary and frankly, any good agent will require this of you! Now we know your price range and you are a stronger buyer with that letter of pre-approval.
We have a terrific lender in our office with Home Services Lending:
Sean Watt (515-707-4151)
seanwatt@homeserviceslending.com
Next-as your agent, together we can determine where you want to live, and the style of home that best suits your needs. I can guide you in this process. Let’s also look 10 years down the road, so that this home will meet future needs too!
Copyright 2020 Sharon Rooney
Copyright 2020 Sharon Rooney |