Hello World! Welcome Friends! Luxury is options. If you live in a housing market with lots of inventory, the house-hunting process can be exciting. Too many options can make the hunt go on forever. The average homeowner visits 10 houses before finding ‘the one.’ You may be asking yourself what kind of house should I buy? How do I narrow down the process? By the way, if you’re not sure what types of doors to buy for your new house, here’s a post on why you choose a wooden door.
Follow these steps to picking the right house.
Consider the Investment
Before you decide on the style of the house you want, it’s important to make a decision about your future financial goals. Think about what kind of return you want to receive on your property. This will make all the difference in narrowing down neighborhoods. Fast-growing neighborhoods located in good school systems will yield the best return. Areas with high foreclosure can offer opportunities for discounted properties but require that you potentially wait a while for the market to bounce back. Tread carefully when investing in an area even if you are getting a great deal. The market downturn could last for a while. If you find the house of your dreams, this won’t matter. But if you know you’ll be interested in moving in the next 5-10 years, you want a home you can sell as soon as you need to. Here are a few ways to determine whether a neighborhood can bounce back:
- The city is investing in local community centers, convention halls, and libraries.
- Developers are breaking ground on multi-use (shopping, apartments, office space and restaurants) within a few miles.
- Crime is low.
- The neighborhood is walkable.
- Interesting businesses are opening up in the neighborhood.
If you see a minimum of two of these, the neighborhood could make a great long term investment. Neighborhoods that don’t meet any of these requirements should be avoided.
Consider the Style
Despite your best intentions, a dream job could open up that sends you packing. Choosing a style that offers timeless value can be a major win when you need to sell fast.
Here are some of the leading home trends.
Midcentury Modern
Midcentury modern is on the trendier end of home styles. These homes are often split level but also come in a single story with a flat roof. Homeowners looking for a retro-style love the timeless classic look of midcentury modern architecture. The homes commonly come with floor to ceiling windows in the living or dining rooms. Open floor plans and exposed brick define the spaces. The original midcentury modern style aimed to connect the inside of the house with the outside world.
Cape Cod
Popular in the 1600s on the Massachusetts coastline, Cape Cod style houses are a simple box design with shingles. These houses resemble cottages but have a sturdy frame. Cape Cod style incorporates a central chimney linked to multiple rooms in the house. The big appeal of this house style is that it could withstand ultra-low temperatures and extreme weather than hit the coastline.
Craftsman
Clean lines and warm colors are popular choices for craftsman style homes. The homes are modest but artistic enough to add curb appeal to a neighborhood. Craftsman style homes are a good option if you’re torn between rustic and modern styles. These homes blend the best of both worlds with large windows, wood floors and painted wood.
Victorian
Victorian homes are a top choice for homeowners with a sense of nostalgia. These homes can take a lot of work if you buy one as a fixer-upper. But you can easily get a good return for your money if the repairs are within budget. Well decorated Victorian homes can transform a neighborhood instantly.
Ranch
The most common type of home is a ranch style house. Ranch style homes are single-story usually with a connected garage. The ranch-style is available for modular homes which means it’s entirely built in a factory and delivered to your home. The appeal of modular homes is that they are cost-effective but still allow homeowners customization. They are a favorite for first time home buyers because they’re compact and usually come at a budget-friendly price. If you’re in the market for a starter home, a ranch style home is a very strong option.
Colonial
If you love to entertain, a colonial-style home should be at the top of your list. Colonial style homes offer prestige. Think restrained style and formal floor plans. The colonial-style emerged during the 1600s copying architectural styles from countries across Europe. The versatile style of colonial architecture makes it a great choice for homeowners. Brick and wood siding are both common options. Colonial homes are almost always two or more stories tall with a center staircase.
Getting Pre-Approved
The biggest item on your to-do list when finding the right house is getting preapproved. Architects are talented. It’s easy to find homes to fall in love with. Getting preapproved before your search helps you avoid disappointment. Connect with a mortgage broker to begin the application process. To get started, you’ll need documents to prove your income. The lender will also require information about your assets and current debt. Your debt-to-income ration typically determines the amount you can borrow. Buyers with high credit ratings get lower interest rates than borrowers with poor credit. If you have bad credit, you might not be able to qualify for a loan at all.
What Kind of House Should I Buy?
Buying a new house opens another chapter in your life. The number of style options available depends on how well your housing market is or isn’t doing at the moment. If you’re still asking ‘what kind of house should I buy,’ it may be time to consult with a realtor. Realtors offer sage advice that can help get you through the challenging house hunting process.
For more information on making your house beautiful, please check our blog for updates.
Click the links below for posts you may have missed:
How to File a Home Insurance Claim
I’d love for you to join my email list! You’ll receive a notification straight to your inbox once a week on Monday which will include links to party posts and my home project posts! Simply enter your address below.
Thanks for stopping by! Have a wonderful day/night depending on where you are in the world! Go with God and remember to be kind to one another!
Toodles,
Leave a Reply