First-time home buyers are often surprised by the number of factors involved with buying a new house. Where are the kids going to school? Is it close to work or will there be a long commute? Is there shopping and entertainment options nearby? Is the neighborhood still under construction?
These are just a few factors many home buyers consider. However, three factors are generally considered the most important by real estate agents: price, type of home, and location.
Price
One of the first things a home buyer should consider is the price of the property. If you go out looking at available homes, you will find properties in just about any price range you can name, from million dollar estates all the way down to empty lots selling for a few …show more content…
After reviewing the buyer's credit, down payment, and income, the lender will give a maximum approved amount for a mortgage. This helps narrow down the price range a buyer should be looking in.
Type of Home
There are several types of homes available in most real estate markets. These range from suburban homes in planned neighborhoods to loft spaces in the warehouse district to farm houses out in the middle of the prairie. Add in townhouses, mobile homes, double wides, condos, and owned apartments and you get a full picture of exact what kinds of homes are available on the market.
Most buyers have a good idea of the type of home that would suit their needs and budget. However, a realtor might suggest looking at other types of homes that might also suit a buyer's needs.
Location
You will hear this mantra constantly in the real estate market: "Location, location, location." The location of a property can make all the difference in its value and livability. Many homes sit within crime-laden neighborhoods. Many homes sit within poor school districts. Many homes are located in the flight path of the airport. Many homes are located next door to manufacturing
These are just a few factors many home buyers consider. However, three factors are generally considered the most important by real estate agents: price, type of home, and location.
Price
One of the first things a home buyer should consider is the price of the property. If you go out looking at available homes, you will find properties in just about any price range you can name, from million dollar estates all the way down to empty lots selling for a few …show more content…
After reviewing the buyer's credit, down payment, and income, the lender will give a maximum approved amount for a mortgage. This helps narrow down the price range a buyer should be looking in.
Type of Home
There are several types of homes available in most real estate markets. These range from suburban homes in planned neighborhoods to loft spaces in the warehouse district to farm houses out in the middle of the prairie. Add in townhouses, mobile homes, double wides, condos, and owned apartments and you get a full picture of exact what kinds of homes are available on the market.
Most buyers have a good idea of the type of home that would suit their needs and budget. However, a realtor might suggest looking at other types of homes that might also suit a buyer's needs.
Location
You will hear this mantra constantly in the real estate market: "Location, location, location." The location of a property can make all the difference in its value and livability. Many homes sit within crime-laden neighborhoods. Many homes sit within poor school districts. Many homes are located in the flight path of the airport. Many homes are located next door to manufacturing