5 Questions to Ask Yourself Before You Buy a Home

May 27, 2020 | 4 Minute read

Buying a home is usually the biggest purchase you will make. And, what’s more, buying a home often presents its own unique set of challenges and pressures. As such, it comes as no surprise that no one takes this purchase likely or in a casual manner.

Before deciding on a home to call your own, you’ll want to ask yourself these 5 questions. 

Why do I want to buy a home?

One of the first questions to ask yourself is why you want to buy a home and why the purchase is important to you. You should be able to easily list at least two reasons why buying a home will contribute to your happiness and at least two reasons why it will help toward your personal goals. Clearly knowing why owning a home is important to you will help you down the road, when you have to navigate the inevitable challenges of homeownership.

Do I see myself living in the neighborhood for at least the next few years? 

According to the California Department of Real Estate, buying a house is generally the biggest investment that the average person will make in his or her life. Real estate is a long term investment. Markets change, and home values fluctuate. If you buy a home with a short term plan and decide to move in just a couple of years, there’s a chance that you’ll find out that your home is now worth less than what you paid for it. Think of real estate as a long term investment.

Am I really looking for a fixer-upper? 

With the number of trendy DIY shows that are out there right now, it’s easy to get caught up in the idea of buying a “flipper” or a “fixer-upper” home. Many potential buyers seem to think that they’re up for a fixer-upper when, in reality, they really aren’t. And you actually may not save as much as you think by buying a home that needs work. 

An extra $100,000 on the sales price translates to roughly $300 more a month on your payment. So, if you’re not really the DIY type, it may be a better fit for you to buy a house that needs fewer renovations.

When will I find and buy the home of my dreams?

By working with the right real estate professional, he or she will be able to talk with you to get a clear idea of what your needs and wants are for your new home. While many buyers seem to equate a long house search with proper due diligence, working with a highly skilled team means that your agent is only showing you homes that best fit your needs. Make sure that you’re comfortable with finding your dream home early in your search, because you may find that it takes less time than you expect. 

Working with the Reali team

You have some choices when it comes to what your real estate team looks like. Some people choose to take on the home buying journey on their own, but the overwhelming majority of home buyers choose to enlist the help of real estate professionals. But did you know that you also have options when it comes to your real estate agent? 

Reali’s real estate experts work in teams, in order to provide you with the best service and support. They are true professionals in their markets, armed with the skills and knowledge to help you land the home that’s right for you. Your team of agents understands your goals, working with you to make sure you achieve them. 

Further, our home loan team can help you put together a budget, helping you decide how much house you can afford and what the best financing option may be for your situation. But what really sets Reali apart is that our agents are actually employees — meaning they don’t work on commission. As a result, our team of real estate experts acts with your best interests in mind — rather than the best interest of their bank accounts.

Reali agents are located all across California and are committed to providing an honest and transparent home buying experience.

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