How to Choose a Home - Quicken LoansNot sure how to choose a home that’s perfect for you? The first step is to think about your wish list of what you’d like to have in your dream home. You’ll need to decide a price range, type of home (e.g. single family home or condo), number of bedrooms, bathrooms, etc.

If you are fortunate, you might find yourself in a situation where you find two homes that fit your budget and needs. How do you decide? What kind of things should you compare? It all can be overwhelming and can lead you to making the wrong choice.

If the homes are in different areas it is best to compare the things outside of the home. Below are seven things to consider when comparing two homes to decide which one will become your new address.

How to Choose a Home:

Neighborhood – Observe the neighborhood and see if it fits your needs. If you have children, does the neighborhood look like it is kid friendly? Is there a park nearby for your kids to play?

Education – Another factor if you have kids is the quality of schools in that area. Does the school system meet your standards? How far are the schools from the house?

Neighbors – Ask around the neighborhood about your future neighbors. You could possibly be living in that neighborhood so wouldn’t you want to make sure your neighbors are friendly? You can get an idea if people keep to themselves or if they are more social.

Crime – The local police department can provide information about crimes within the vicinity of the house. You can determine if the neighborhood meets the safety standards you expect for you and your family.

Driving distances – What is the driving distance to work, or to the nearest grocery store or mall? Is that an important factor to you and your family?

Know the market – Compare the real estate market of the two homes. Do the homes in that area have a good resale value? One might prove to be in a better market, especially if it’s located in a desired area.

Visit both homes more than once – If you are still unable to come to a decision on which home is right for you, visit both homes again during different times of the day. Something might stand out for a good reason or flag warning signs of the home that might help make a choice for you.

If comparing the previous items did not help make your decision between the two homes, consider creating a pro and con list. Making a detailed pro and con list of each home can help you determine which one has exactly what you are looking for. There are many things to compare like what kind of updates each home needs and if it has enough space for your family. Does it come with necessities like a washing machine or a dishwasher? One home might need more work than the other. Do you want to spend the time and money improving the home to what you want it to be?

In any case, if you still can’t pick between the two homes, you can take comfort knowing that if a deal doesn’t go through on your first choice, you have a back up home to make an offer on.

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This Post Has 3 Comments

  1. My wife and I are in the market of our first home. We are inexperienced and aren’t sure what to look for in a home. I didn’t realize how important it is to make sure you know the market around a home to ensure you get a good value. I’ll be sure to remember that moving forward.

  2. Great tips on choosing a home. It was this challenge that inspired me to create an iPhone app to help solve that very problem. It’s called House Hunter and is a tool for home buyers to help track, evaluate and compare homes. It has a unique scoring system to help buyers decide which house best fits their personalized needs.

    It has the ability to create a prioritized list of features that are important to buyers, then score each house based upon that list.

    It has the ability to capture photos and notes on each property.

    It tracks your must have items and whether each property has those items.

    It tracks which features of all your enabled features are missing from each property.

    It has a mortgage calculator to determine quich payment scenarios

    It has a photo management tool that allows you to compare photos from each property on one screen.

    It provides buyers a way to share their detailed feature list and house scores with their agent to help the agent find homes that best match the buyer needs.

    It is a very powerful tool designed specifically with the buyer in mind and helps reduce the stress, emotional turmoil and confusion of comparing and selecting a home.

    You can find it in iTunes here:
    http://bit.ly/jTyf2Z

    You can find us on facebook here:
    http://www.facebook.com/Cre8tiveApps

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