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Here's How Much Home You Really Need
Buying a home is a big decision for anyone. How much house you will actually need is a big part of the decision-making process. A single person who is just starting out will need less space and property than a family of four. The size of your dream home must also be able to accommodate your future plans as well. It's important that you look closely at your current situation as well as where you want to be in the next five to ten years. Have a meeting with one of our real estate agents and go over your plans. We can help guide you through the home-buying process.
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Size of your family – If you live alone, you can choose whatever size house you want as long as you can afford it. A smaller home with one or two bedrooms is ideal for someone who is just starting out and wants an affordable payment every month. It gives you a little room for growth in the future and is manageable in the meantime. It goes without saying that the more people you have in your home, the larger your new home will need to be.
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Possible life changes – Buying a home is a huge investment in your future. It's important to take into consideration any possible life changes your family may experience. Do you plan on having another child? Will one of your children be leaving home to go to college or get married? Will a parent be moving in with you? All of these possibilities will change the amount of space you need. Consider each one carefully when you start looking at new homes.
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Budget – Know how much home you can afford. This includes your house payment, property taxes, homeowners' insurance, and all of the maintenance and utility costs that ago along with owning a home. Go over your budget and try to account for any future changes you may see on the horizons. You will need to know your debt-to-income ration and have a working knowledge of your credit report.
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Age of the home – The age of the home you are looking at may be a factor if it's an older home. Older homes may require upgrades or major repairs much sooner than newer homes. When you start looking at Rockland County homes for sale, pay close attention to the details if the home is older than ten to twenty years. Your real estate agent will have access to all of the information regarding the age of the home and its roof and HVAC system.
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Maintenance – In addition to your house payment, insurance, and property taxes, you will also have to factor in any maintenance costs such as annual roof and HVAC systems, lawn care, and repairs that need to be made. Determining the actual cost of maintaining a home will take a little time. You will need to carefully document what you spend and create an estimate for each season of the year.
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Utility costs – Larger homes will naturally require more energy to maintain sufficient comfort. Identify ways you can make your home more energy efficient and you will be able to save on most of your utility bills. Before you buy a home, ask for an energy audit to find out where you will stand from the very beginning. This will also provide you with the information you need going forward to keep your energy costs low.
Before you buy a new home, take a close look at your needs and wants. When it comes to the size of your new home, it's important that you don't stretch yourself too thin. Contact us today and let us help you find the perfect size home for your family's needs. We can go over your current situation and factor in future possibilities so you can buy the forever home you have always wanted!
Corporate Headquarters
7 E Central Ave, Unit 15, Pearl River, NY 10965Phone: 800-ASK-JOYCE (800-275-5692)
