Colorado Homes For Sale

What To Know Before You Buy Your Dream Home

Common Things to Look Out for Before Buying Your Dream HomeDream Home Image 1

When shopping for your dream home, what is the best way to get the exact home you want or the next best thing to it?

You have to know what you want.

Most people assume they know what they want in their home the first time they start thinking of buying a new home. But what they often have are vague ideas of what they do or do not want. That is the reason a lot of buyers, after spending copious amounts of time searching for their dream home, still end up disappointed.

If buyers don’t define what they want, how can they know when they have found it?

When searching for your dream home, the best way to avoid wasting your time or your agent’s time is to know what you want from the outset. Just like when you set work, business, or personal goals, the objectives you set, have to be SMART. The parameters for finding your dream home must be Specific, Measurable, Attainable, Relevant, and Time-based.

How do you set SMART parameters for finding a dream home? Here are some of the significant factors you should consider.

  1. The type of building structure

Your preferred home could be a condominium, single-family dwelling, split-level home, or other types of structure. Each building structure carries its unique implications. For instance, although a villa-type home offers more space than a condo, maintenance costs are higher. Conversely, the maintenance cost may be more or equal to the maintenance costs for a bungalow or villa if the condo is in an expensive part of the town.

  1. The architectural style

Dream Home Image Architecture

Do you want the home to have an architectural style reminiscent of specific geographies or eras? Do you prefer a Victorian style, Cape Cod, Mediterranean, Mid-Century Modern, Georgian, Ranch, etc.? Or you want the minimalist design of a condo community? No one style is better than the other; some people find one plan more appealing than others, based on their lifestyle and personality.

  1. How much space do you need?

We all want a lot of space, but how much space do you need? More importantly, how much space can you effectively manage? Bear in mind that more area equals more cleaning and higher energy bills. If you want more space, do you want it inside the home or around the yard? Is there enough storage, or would you like to do projects in the future that will require space?

  1. Your preferred layout

Some home designs prioritize the living space over the bedrooms by assigning it more space. Other plans do the reverse. Some homes follow an open floor plan, while others follow a closed-floor plan. From an individual point of view, each floor plan has its pros and cons. The layout you choose is a matter of your needs; consider the merits of each design before you commit to any particular setup.

  1. What are your must-have features?

There is no end to the features people desire in their homes. What are the things you have dreamed of having for a long time? Do you want tall windows with a view of the scenic outdoors? Do you want a home gym or mini theatre? Do you want a kitchen big enough to host a small party? Or you want space for a man-cave or to pursue a hobby?

Where do you want your home?

Dream Home Image Location

Here is where you think of the kind of neighbors you want and the amenities you prefer near the home. Do you want a rural, semirural, suburban, or urban area? What amenities do you need or what can’t you live without having? Possible amenities could include multimodal transport, shopping or entertainment centers, academic institutions, parks & forest reserves, sports facilities, children’s schools, public utilities, and many more.

  1. How old or new should the home be?

Older homes have charm and history. Many of them have handmade features. Newer homes have more up-to-date designs, recent technology, and more space. Older homes may require some work to bring them into shape. But the fresher a home, the less work you have to do on it. Older homes may fetch more money if you decide to sell the property.

  1. How much can you comfortably afford?

No doubt, a beautiful home overlooking the beach with pretty coconut trees moving in the wind would make you happy. But can you afford such a house at this time? And if you can, does it make sense? When trying to determine how much housing you can afford, don’t focus on the home’s sales price alone. Maintenance costs should be an essential part of those calculations.

  1. Prioritize your needs in order of importance

After you have noted everything you want in your dream home, you should prioritize those desires. Separate them into wishes and needs. Give attention to your wishes only after you fully satisfy your necessities. Following this method will help you avoid the mistake a lot of buyers make. They buy their dream home based on its aesthetic appeal and overlook the functionality of that home.

Brian Chandler of RE/MAX Alliance in Parker Colorado specializes in homes for sale and consulting with homebuyers on current housing inventory. Brian is a Top Agent Realtor with over 40 years of sales experience.

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