Shopping
What to Look For
Choosing a place to live can be one of the most exhilarating experiences of a lifetime. We've learned through the thousands of home seekers we have helped that the best approach is to be prepared. Our observation is simple. Your move can be an improvement if you duplicate what you like in your present community and avoid what you dislike.
Initial Buyer's Consultation
A HomeLife Higher Standards Sales Representative can give you many initial pointers.
House Hunting Begins at Home: The search can begin in your present home, so we've developed some questions to stimulate your thinking and help you identify your needs and preferences. Once you've clarified what you like in your present community you will have a better idea of what you want to find. Plus, you will be able to express your preferences clearly to the HomeLife Higher Standards Sales Representative who can help you find it.
One hint to keep in mind as you go house hunting is: "The best time to think about selling your home is when you're buying it". In other words, what appeals to you as a buyer today will probably also appeal to buyers tomorrow. A careful house hunter will benefit years from now when it's time to sell to an equally value-conscious buyer. Build your buyer's savvy by reading classifieds and homes-for-sale magazines, and also by visiting open houses.
Area & City Questions
Would you characterize your present area as urban, suburban, semi-rural or rural? Is the population density low, medium or high? Is the population decreasing, stable or increasing? What natural features are the most significant? Woods? Hills? Flat land? Rivers? Ocean shore? Man-made lakes? Streams and ponds?
How do you commute to work? Do you walk? Drive? Car pool? Taxi? Bus? Train? How far must you travel and how long does it take in the morning and evening? Do you use available public transportation for local trips or to visit close by communities? Can someone reach your home on public transportation?
Where do you do your shopping? Central commercial districts? Shopping malls? Supermarket shopping clusters? Community shops or home delivery? Imagine a list of typical stops in one week. How many miles and how much time would visiting the entire list require? Do you want greater convenience?
What types of schools does your family attend now? From grade school to graduate school, and from day care needs to special vocational training, what facilities will you require in the next few years? Are there any special needs or plans? Although it's extremely difficult to compare quality of education, especially when the most important ingredient is the relationship between teacher and student, some statistical indicators can be helpful. Average class size at grade level. Comparative standardized test scores. Average salary of teachers. Percentage of high school graduates who go to college or university.
What does the area offer for recreation and entertainment? Music? Movies and live stage? Sports arenas? Museums? Nightlife? What types of indoor and outdoor sports facilities are available? Are there public parks, private country clubs, athletic clubs, fraternal groups? Do any of your hobbies require facilities?
Choosing a Community
After you take stock of the larger view of the area and city, this section helps you zero in on your community preferences. In real estate an old maxim says there are three criteria that determine market value: "Location, location, location". The fact is that the same boards and brick may be used to build two houses at two sites, yet the identical house across the area will bring a price thousands of dollars higher. The difference is location ... or community.
The concept of community isn't as precise as county or city. Some people consider the boundaries to be the district around a grade school. Others consider it "walking distance", more or less within a half mile radius. Wherever you draw the line, a community is the immediate area around your house.
To determine if a community is for you, spend some time in the area. Talk to area residents, visit area shopping centers, walk around and meet people. Get a feel for the kind of people who live in the community and whether you'd like to be a part of it.
Choosing a House
We've saved the best for last. In many ways home finding is easier than choosing a county and a community because you are considering tangible details. Yet our experience suggests that many people "decide" with emotion and "justify" with facts. This section will help you strike a better balance.
First, one should realize that thousands of houses are sold in the area every year. Inspecting the thousands of houses on the market is obviously impossible. But you can turn this overwhelming selection to your advantage. If you can clearly describe the features you require a HomeLife Higher Standards Sales Representative can make a preliminary screening for you. After you select the best houses you can concentrate on inspecting your top choices. The key is knowing what you need.
House Questions
How many people will be living in the house? Do you prefer a new or resale home? What is your preferred housing style? Town house, Colonial, contemporary, split level, split foyer, Cape Cod, or something else?
How many total rooms do you need? Bedrooms, bathrooms? How strongly do you require features such as separate living room, dining room, laundry room, basement or attic, family room, fireplace, workshop area, garage? (Some people consider central air conditioning a summertime necessity.) How much property do you require? Do you have preferences for any particular natural features?
House Hunting
Many of our customers find it helpful to keep a record of the houses they inspect. A large notebook (8.5 x 11) is handy with pages large enough to record vital information as well as hold stapled instant pictures of attractive houses and communities or clipped advertisements.
Financial Details
Asking price? Original asking price? Has the price been reduced? What price did the house last sell for? In what year?
Is the asking price comparable to other houses in the community? Higher or lower? However, when carefully comparing properties be sure to take into account unique features and improvements that vary house-to-house, and consult the HomeLife Higher Standards Sales Representative who is experienced in market comparisons.
Is the existing mortgage assumable? Required down payment amount? What financing method is acceptable to the seller?
What are the annual property taxes? Will the taxes increase with transfer of deed and a new market price? Any local bonds or assessments?
Physical Details
Outside. Address of property? House style? Lot size? Landscaping details? Degree of grounds maintenance required? Age of house? Structural condition? Are any major repairs or improvements necessary? Maintenance of building?
Inside. Make a sketch of floor plans. Total number of rooms and baths on each floor? Any extras such as intercom, fireplaces, phone jacks? Built-in appliances: dishwasher, garbage disposal, trash compactor? Adequate storage space?
Construction. Inspect quality of materials, present condition, craftsmanship both inside and outside. Insulation? Weather stripping or storm windows?
Major systems. Plumbing, electrical, heating and cooling. What type of fuel does heating system use? Approximate annual cost? Perhaps a professional inspection of the major systems would be a good investment for a house that you are interested in purchasing.
Computerized House Hunting
At any moment, a complete description of homes presently listed for sale is available through the Multiple Listing Service (MLS) system in all HomeLife offices. Here's how it works. When a house is listed for sale by any area broker, the home's vital statistics are fed into the computer: the lot size; the age and kind of home (condo, townhouse, single-family); style (colonial, contemporary, Cape Cod, etc.); material (brick, stone, wood); the number, size and use of rooms (4 bedrooms, 2 1/2 baths, kitchen, living and dining rooms, family room, finished basement and attic, foyer, utility room, garage).
Also included are features (fireplace, walkout deck, patio, wooded lot); equipment (stove, dishwasher, carpeting, etc.); the heating and/or cooling systems; the water and sewage systems; the annual taxes; the mortgage balance, monthly payments, and the amount of cash a buyer would need to assume the existing mortgage (if it's assumable), or the amount of cash required if the seller offers to take a second mortgage; and, finally, the selling price.
Finger-Tip Home Search
A buyer's requirements can be fed into the computer by a HomeLife Higher Standards Sales Representative: particular communities; kinds and styles of homes; the number and kinds of rooms, and the price range. In minutes, the computer makes a quick search among the houses listed, and prints out all the houses that meet the buyer's criteria.
The computer also helps buyers determine which home sellers will offer seller financing. It can calculate the amount of mortgage payments at various interest rates, under various financing plans. It can also help evaluate the investment and the financing that is right for the buyer. Plus, it's updated each morning, as hundreds of houses enter and leave the market. In short, it's the only way a buyer can check out almost everything that's "out there".
>> Continue on to... The Offer To Buy
Home Buyers Guide | About HomeLife | Why Buy? | Do I Need A Sales Representative?
Why Choose A HomeLife Standards Sales Representative? | HomeLife's Five Criteria For Buying
Homefree Buyer's Guide | Planning | Shopping | The Offer to Buy | The Money | Protection | Closing On the Purchase
