In 2016, the number of renting households in the U.S. increased to 36% compared to 31.2% in 2006. Despite this significant increase, many people still dream about having their own house. In fact, a survey revealed that 72% of renters still want to buy a house. However, most of them struggle to allocate enough money to purchase their dream home.
If you’ve done your research, you might already know that home listings in Taylorsville and other parts of the country are quite expensive. According to a study, the median price for homes has significantly increased since 1960. This year, the average cost of a house is $226,800, and this price varies depending on which state you plan to make the purchase.
Despite these numbers, you can still achieve your goal of owning your dream home. You just need to follow specific steps.
Decide on the Non-Negotiables
Before browsing house listings on the internet, make sure to decide on the type of home you want for your family. Think about the non-negotiables.
Do you want to have a three-bedroom house? Or, will a one-story house be enough? Build a list of your nice-to-haves and your non-negotiables. This way, you’ll have a quicker way of determining which property is best for you.
Include Potential Upgrades in your Vision
If you dream of owning a three-story house but you don’t have enough budget for it, try looking for bungalows first. Keep in mind that there are houses in the market that offer space for upgrades.
Don’t immediately look for a property with a swimming pool, a viewing deck, or a patio. You can build and add those in the future when you already have extra money.
Take Some Time to Browse a Great Number of Houses
You can check out a huge number of property listings online. Make sure to take a look at different properties in different areas so that you’ll have more options.
If you want, you can also ask for assistance from a trusted real estate broker. They can help you find properties that fit your vision for your dream home.
Set a Purchasing Deadline
One of the best ways to maintain your focus is to set a deadline for purchasing the property. Decide on the exact date, so you can feel constantly motivated in buying your dream home. Set a timeline along with your budget and home-purchase savings.
Schedule a Home Inspection
Make sure that you personally visit the site before handing over the documents and the payment. You can ask help from a home inspector if you want to check the property’s status thoroughly.
Don’t forget to take note of any suspicious issues such as leaking pipes and moldy walls. It’s best to purchase a property that doesn’t have these issues because you won’t need to spend a lot on home repairs and renovations.
Having a limited budget will not be an issue as long as you work hard and stay motivated. With these simple guides, you can rest assured that you can purchase the home of your dreams.