How do you choose between the right residential property where there are multiple options that have captured your attention? As a buyer, it is essential to determine what home will best meet your needs over time. But it is not uncommon for prospective buyers to view multiple properties that are enticing for different reasons. Often, it is a matter of tradeoffs. One house has more space, while another is more budget friendly. Buyers find themselves considering the pros and cons of a four-bedroom with a great garage vs. a three bedroom with a pool and a view. Ultimately there's not right choice. What's important is what is right for you, based on getting clear about your priorities. Yet there are a number of questions and strategies that buyers can use to help make the right choice. Here is a closer look at the essential questions to think about.
Create a matrix based on your top priorities
When you consider what property you would ideally like to buy, divide your desired features into categories such as "absolutely must haves" and "nice, but not necessary." Conduct an objective evaluation of each property to see how it aligns with your ideal property vision – or ask someone who is less emotionally invested to help you.
Consider long-term fit
One of the most important elements of choosing a home is thinking about timelines. Are you purchasing a home that you plan to sell and upgrade in three to five years, or are you dreaming of buying a property where you can raise a family and grow old? Do you intend to have children or will you potentially need space for aging parents? Thinking about your long-term space needs can often help clarify which property will be a better choice throughout the seasons of your life.
Determine any budget differences
While the purchase price of two houses may be similar at first glance, it's important to ask questions about they're truly comparable. For example, does either house require more work or upgrades? Would the sellers of either property make valuable concessions? Is there a difference in taxes or insurance premiums that could change the cost of homeownership? How well has each property been maintained, and thus, signal a likelihood of fewer repairs? Developing a list of the questions to consider and then examining each property will give you important data to base your decision on.
Are you considering purchasing a home in Southern California? Contact The Edie Israel Team today to arrange for a personalized consultation and to discuss how to find the Yorba Linda property that's right for you.