The other day I had a first time buyer ask me “what should I be looking for?” as we started our first showing. I thought it was a very intuitive question that deserves a public answer for anybody wondering the same thing. After thinking about it, I was able to break it down into three categories:
- Make sure your needs list is still being met
When you start you home search, you’re most likely looking for homes on a search engine like the MLS or Zillow. You likely have at least a small idea of what your needs list consists of (number of bedrooms, location, size, etc.). Any home you find on your online search should pass through the filter of your needs list. Sometimes though, data can be incorrect.
This is why it’s essential to make sure your needs list is still being met. Are all of the bedrooms actually upstairs like you thought? Is the basement a full basement? Is the location you saw on the map actually where the home is? It seems like it should go without saying, but making sure that your personal requirements are being fulfilled should always be #1.
2. Ask yourself how you feel in the home
Buying anything requires emotion. In fact, making any decision, regardless of how much research goes into it, is done because we ultimately feel “good” or “right” about making it. There’s a ton of research around this that we don’t have to get into now (though if you want to google it, you’ll come across some great books to read). Buying a house is an extreme version of this, because it’s a very expensive commitment and the place you’ll live!
Asking yourself how you feel as you walk through a space will tell you a lot. Do you feel good? Great! That’s what you want. This when you know this home could be a contender.
Now what if you don’t feel so great? Something feels off about the space, and you can’t quite tell why. Take a step back, acknowledge you feel this way, and ask yourself “what would I change to make myself feel different?”
If you find there are things you can change that create feelings of optimism as you envision them, you’re on the right track. If you can’t change the things that make you feel off, like the location, floor plan, etc., it’s probably time to move on.
Side note: Because buying a home is so emotionally driven, if you’re having a bad day before you start looking, it’s worth taking the time to clear your head and get into a fresh mindset prior to browsing.
3. Look for obvious red flags
Take 15 extra minutes while you’re walking through a home for the first time to inspect for any obvious expensive repairs. You’re not doing a full home inspection at this point, because that’s what your actual home inspection is for. At this stage, you’re just looking for obvious issues that may cause you to not want to purchase the home. This will save you from paying a few hundred dollars on an inspection, as well as save you time.
If your aren’t in home repair, and especially if you’re a first time buyer, you may not be sure on how to spot these potential issues. This when you should lean on your realtor for advice, or bring in a family member with a construction or home repair background to be your second set of eyes. You’ll be happy you did.