The Right (and Wrong) Way to Buy a House

The end of the year is a time when we stop thinking about all we did or didn’t accomplish this year and start thinking about what we want to achieve next year. It offers a palpable sense of hope that this year will bring pleasant surprises rather than unpleasant ones. By December, most of us are ready to bid farewell to the old year, regardless of how good or bad it was. It’s a common time to set goals and resolutions for the next year, and many people will decide that 2018 is the year that they’re finally going to purchase a house. That’s a worthy goal, but it’s a good idea to make sure that a few critical things are in place before you sign on the dotted line.

Don’t settle

You should truly love the house you’re buying. It may not be perfect, but it should be perfect to you. Choosing a house is a bit like choosing a life partner, although the latter doesn’t come with a monthly mortgage payment. What’s charming to you may be insufferable to others, and vice versa. Location always matters a lot as well. Are you interested in a house that’s located in a more rural area? Then it’s time to talk with a USDA mortgage lender to see if you qualify for a government-insured USDA home loan. USDA home loans offer a lot of advantages, but those advantages won’t mean much if you’re an urban dweller who can’t imagine living outside the city limits. Know what you’re seeking in a house, and don’t apologize for it.

You’ll hear a lot about “fixer uppers.” It’s a term that’s thrown around so often that it’s hard to really know what it means without actually looking at the house itself. Some “fixer uppers” are so far gone that they should probably just be condemned already, while others are genuine diamonds in the rough that will look great once you’ve invested a bit of sweaty equity. Be honest with yourself about what it would take to restore a house to a condition that you would consider acceptable.

Do your homework

Our mothers always told us, “If it seems too good to be true, then it probably is.” So if you find a place that’s located in a great neighborhood but priced well below market value, it’s fair to ask questions. There may have been a terrible crime committed there, but don’t jump to that conclusion immediately. It’s also possible that it’s been on the market a while and the seller is ready to be done with it already, or maybe the seller is making additional demands that have scared other buyers away. You have the right to know as much as possible about a house before you commit to buying it.

Be open to other options for finding your dream home, too. If you can’t find a place you love, maybe it’s time to make an appointment with a reputable homebuilder in your city. Building a home from the literal ground up offers its own challenges, but it’s a great option for people who want to oversee the process from start to finish.