According to the National Association of Realtors, 52% of home buyers cited finding the right property as the most difficult part of buying a home. Many times, this is a direct result of homeowners not quite knowing which type of home they want, or in what area. Though there are countless resources available to help your home search proceed as swiftly as possible, it's important to enter the process with some sense of direction. Here are just a few important questions all home buyers should ask themselves before browsing new homes for sale.
Do I want a single family home or a multi family home?
According to Zillow, 83% of buyers are looking for single family homes, but both offer their fair share of advantages. Single family offer more privacy and less maintenance, but multi family homes offer the potential for more income. Weigh the pros and cons carefully and align them with your own personal set of real estate goals and values. But keep in mind, most experts agree that you shouldn't invest in a multi family home unless you're absolutely certain you're up for the maintenance that comes with it.
How much maintenance am I willing/able to put into the home?
As mentioned, maintenance is an important consideration with any real estate transaction, but it involves more than deciding between a single or multi family home. About 34% of recent buyers who purchased homes with new home construction were looking to avoid renovations and problems with plumbing or electricity, according to the National Association of Realtors. If you truly want as little maintenance as possible, it's typically best to invest in one of the countless new homes for sale as opposed to an older home. Buying a home with new home construction ensures that it's up to date with the latest and greatest materials and appliances, and you'll have the peace of mind knowing that your family is the one and only family that's ever lived in the home.
How much of a priority is walkability?
There's a reason why 80% of residential growth will be in suburban communities over the next 10 years -- lots of people love living in areas where they can walk easily. If you're sick of long commutes and rush hour traffic, a suburban and more walkable neighborhood may be best for you. If you're interested in custom homes or new construction, talk to a realtor in the area.
Ultimately, answering these questions can help get your home buying process off to the right start. For more information about new home construction, contact Cornish Hills.