Your starter home will always hold a special place in your heart. It’s where you’ve made countless memories and created a life together with your significant other. When it’s just you and a partner, it’s easy to feel comfortable in a one or two-bedroom condo. But as you make plans to start a family, or grow your family, it’s easy to see that a larger space is much-needed. It’s not uncommon for priorities to change.
After all, there’s a reason people move to the suburbs when they have kids. Space is a hot commodity when it comes to real estate, and finding the perfect house that offers that, along with nearby schools, safety, etc. is crucial when buying a new home. There are, of course, other factors that go into finding a home best suited for your needs, but luckily, we can offer you tips and support to help you along your journey. Read below for everything you need to know about finding your forever home.
Have a Budget
With anything you purchase, you want to make sure you can actually afford it. To help ensure you’re not going overboard with finances, create a home budget and do your best to stick to it (and try to account for additional expenses). If you need help determining that budget, Rocket Mortgage offers a Home Affordability Calculator you can use and details other factors that may determine how much you can afford.
Plan for the Future
If you’re buying a home to support your expanding family, then you’ll definitely want to consider the number of bedrooms and bathrooms in the house as opposed to solely square footage. Additionally, you’ll want to factor in the room sizes, the number of people living in your home (or the number of people to potentially live in your home), life changes, finances, and specific needs or desires as Rocket Mortgage notes here.
Make a List of Must-Haves
As noted above, you’ll want to take into account specific needs (not to be confused with wants). To help you decipher between the two, make a list of nonnegotiables you absolutely need in your new home. This could range from a basement and backyard to nearby schools or a guest house.
Tap Into Resources and Support
You may not be a stranger to homebuying, but it can still be a challenge to find the right home within a certain timeframe. Rocket Mortgage understands the struggle this can be for homebuyers, which is why the BUY+ program helps you buy a new place and sell your current home with support. With BUY+, clients could get up to $10,000 toward closing from Rocket Mortgage when they buy with a Rocket Homes Partner agent and finance with Rocket Mortgage. Additionally, SELL+ allows you to receive up to $7,000 from Rocket Homes after closing when you work with a Rocket Homes Partner agent to sell your current home. The two can also be used in combination, allowing you to save on both the buy and sell side. For more information on these offers, visit here.
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Try to Sell Before You Buy
To help alleviate the worry that comes with buying a home, if possible, try to sell your current home first by putting it on the market when you start your new home search. This can also help you potentially avoid two mortgages and assist with the down payment on your new house.
This article was created by SheKnows for Rocket Mortgage.
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