Home Buying Tips – Don’t Settle for Less

When it comes to buying a home, there are some things you should never compromise on. In some cases you will need to compromise in order to complete the home purchase. However, when you’re pouring thousands of dollars into buying a home, you should be careful and consider your compromises before reacting impulsively. Therefore, I have a few things you never want to compromise on when it comes to buying your dream home.

Don’t compromise on these

Location and Commute – Some home buyers can deal with an hour or more commute just to be in a certain community. But if you are not the type who likes sitting in traffic for hours on end or riding on crowed busses, you should heavily consider buying a home near your place of work. Don’t compromise on your location if you know you will not be up for the commute later. Chances are, a long commute to work will not grow on you.

If work is not an issue, think about simple commutes to the store or other shopping and entertainment. Do you want to be within 15 minutes of all modern day conveniences or will you be okay with a 20+ minute drive?

Monthly Savings Budget – A monthly savings budget is very important to have when owning a home. If any repairs need to be done, it will be your responsibility and you will need the extra funds for it. In most cases, homeownership requires a new set of financial priorities. Therefore, you may not be able to do the things you once did if your house payment is more than what you were used to before.

Don’t compromise on your current lifestyle either. If you need to stay within a certain price range to maintain the lifestyle you are happy with right now, you should only look at homes in that price range. If you upgrade too much you can become unhappy that your money is going into your home instead of your savings.

Homeowners Insurance – While you don’t need to go overboard on home coverage, you do not need to under insure your home either. If you have a home valued at $300,000, you don’t need $800,000 in coverage unless you have really expensive things in your home like paintings worth thousands or jewelry worth thousands. Your goal with homeowners insurance is to have enough to cover the home and your possessions in case of a total loss.

When trying to decide how much coverage you need you should calculate your homes value along with your furniture, clothing, jewelry, and any other valuables that would cost a lot to replace. An umbrella policy is a great addition to your regular policy that will cover anything your original policy does not cover. And it’s inexpensive to add on.

When you are ready to sell, start with Erika Rogers – your real estate leader in St. George, UT and surrounding communities. She specializes in new construction, golf course communities, gated communities, 55+ adult communities, St. George luxury real estate, and foreclosures in all Southern Utah communities.