So, you are all geared up to start hunting for homes. You know that more homeowners are finding their homes online than in the past. According to the National Association of Realtors (NAR), in the year 2016, 44% of home buyers began their search online first; compare this to the 22% that used the newspaper to start their searches in 1981 and see the reality. Homeowners finding homes online has shortened the process of home shopping by 25% in recent years. Here we will show you what to look for when searching for homes online.
We have all heard the saying, “location, location, location.” Truer words were never spoken in regards to finding the right home. If you are using the multiple listing service (MLS) database provided NAR or another website that features the current listing of properties for sale, you are to select a specific zip code filter for your property search.
2. Bedroom Count
Knowing how many bedrooms a property has is one of the most critical factors of the home. Having ample space for your family is of the utmost importance during the process of home shopping. There is always a filter to select how many rooms you require during your search.
3. Bathroom Count
Having a sufficient number of bathrooms is another essential factor to keep in mind during the search process. Bathrooms are counted as full or half “baths” when listed on real estate portals. A full bath means that there is a bathtub or shower in addition to the sink and toilet. A half bath will only include a toilet and a sink. You need to enter the number of bathrooms you desire for your home using the bathroom field on the property search portal.
4. Home Size
How much space does your family need? This is a significant question that must be realistically addressed before searching for a home. You have to consider the size and needs of your family currently and in the future. You do now want to outgrow your home or purchase more home than you will ever realistically need.
5. Sale Price
You need to have a home budget in mind before finding the right home. You need to find out how much you can afford. Your mortgage lender will figure how much you approve for based on your debt-to-income (DTI) ratio. Just as there is a home selling calculator to calculate home selling proceeds, there are also DTI calculators that will tell you how much home you can afford. This calculation weighs your income and expense ratio. There is an option on the MLS to select the minimum and maximum sale prices you would like to see results based on.
Purchasing is an exciting process that needs to be done with a level head and a ton of research. Knowing what to look for during every step of the process is pertinent to a successful and stress-free—or reduced-stress—purchase process.