real estate checklist

Home Buying: Things to consider

Address: 

  1. Price : $________

Discuss with your partner what you would both be comfortable paying for your monthly mortgage. Securing a loan pre-approval from  a (or several) lender/s could also guide you towards selecting a price range that would fit your lifestyle

  1. House Size and Lot Size: __________sq ft living space, ______ sq ft lot

Note your desired home size depending on your projected needs for the next 10-15 years. Do you plan to have kids soon or are you wanting to downsize to a more manageable  size house?

  1. School Rating: ___/10

Communities with better schools are usually more recession proof, easier to have rented later on and appreciate more in value compared to areas with a not so great school rating. So if you have kids or thinking of having kids, this would be a great thing to consider.

  1. Work/School Commute: _____minutes

What would be a comfortable drive for you everyday? What freeways would be good to be close to? All these things are important to imagine and note before you start looking at areas to consider. 

  1. HOA dues and amenities: $_____

Are you willing to pay for association dues? If so,  note what amenities you would like your future home to have?

  1. Updated home or fixer Uppers: $________

Are you handy or would you need a home that’s already been updated? If the home you’re considering needs some work, what is the estimated $ that needs to be spent to get it move-in ready for you.

  1. Parking: #______

Street parking? How about when you have parties… would there be enough parking for your guests?

  1. Appraised Value and Equity: $_________ Value, $_______ equity

You would need to do some research or you can also ask your realtor for this information. To get the amount for your built-in equity (if any) on a home, subtract the selling price from the approximate appraised value. The higher that is, the better investment the home would be. If the value is negative, discuss the results with your realtor to see why this could be so.

Notes:

(favorite and Not so favorite parts for this property and things that make it worth noting for you)

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