M is for Money

This is Part 6 of The First Time Homebuyer: Part 1, Part 2, Part 3, Part 4 and Part 5.

You’ve looked at 10 houses today and already you can’t remember which house had that master bath you loved. House hunting means taking in a lot of information in a short period of time. Here are some ideas on how you can shop smarter when looking for your first house.

What are You Looking For?

What would your ideal house look like, what features would it have? Everyone’s needs are different, a beautiful gourmet kitchen is useless if you never step foot in it. What rooms do you plan to use the most, do you need space for a home office or a playroom for the kids? Do you hate yard work? I love to cook but bought a house with a tiny kitchen and a poor layout, oops.

Make a list of must-have features, things you could live without and things that you absolutely will not live with. How many bedrooms and bathrooms do you want? What style of home suits you, traditional or modern? These are the types of questions to ask yourself before the hunt begins, there is no sense in looking at houses that don’t meet your needs.

Bring a Camera

Take pictures of each house you visit to help jog your memory later. Those photos may reveal features you overlooked when you were at the property. It’s common to suddenly wonder about the kitchen cabinets - after you’ve left the house. Take pictures of the rooms that are most important to you to refer back to later.

Have a Checklist of Important Features

Create a checklist to bring with you so you can easily note whether the house does or does not have the features you are looking for. It’s easy to get distracted or emotional when looking at houses, meaning you overlook key details. The listing will probably note the number of bedrooms and bathrooms, but won’t tell you how they are arranged. The list of potential items is endless. If I were house hunting today, here are the features I would focus on as most important:

- a functional kitchen with plenty of counters and pantry space
- a kitchen that feels connected with the rest of the house
- a large, secure backyard with room for the dogs and space for a vegetable garden
- a garage that fits at least one of our cars
- bigger closets
- newer systems and plumbing!

A house, or condo, should fit your lifestyle. If you don’t enjoy yard work, look for a house without a yard. A jacuzzi tub will just gather dust if you prefer showers to baths. It’s better to think about these things before you plunk down $300,000.

Take Notes

Bring a notebook or leave room on your checklist for taking notes. It’s hard to absorb a lot of information at once, jot down anything that strikes you as you tour the house. Include both your likes and dislikes about the home, but keep it brief. Don’t let your notes stand in the way of absorbing the space around you. You’ll flee some houses too fast to even take notes, they just don’t feel right.

Ask Questions

Don’t be afraid to ask questions, now is the time to do it. The listing agent should answer as best they can or offer to get back to you later. There are many things that a simple look around the house won’t answer – the age of the roof, the type of plumbing and wiring and the age of any other systems like the furnace and air conditioner. Fixer-uppers are fine, as long as you know what you are getting into. It’s the surprise fixer that’s a killer.

Be Informed

The more you know about a house going into the purchase, the happier you’ll be after you move in. It’s never fun to discover that the house you bought isn’t what you thought it would be.

Part 7 - Making an Offer on a House

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