Choosing a family home is one of the most important decisions you will ever make. After all, your beloved home is where you will spend much of your time, entertain your friends, and make and keep most of your family memories. Therefore, it is essential that you choose a home that best suits your family's preferences and offers the best living experience possible.
Here are a few essential tips to keep in mind when choosing the right family home, whether you’re seeking Longboat Key luxury homes or Siesta Key properties.
Where is the home located?
You should consider several questions when considering the best location for your home. Here are a few.
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Is the home close to my business premise or workplace?
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What amenities and fun spots are in the neighborhood?
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Is the home near excellent schools for my children?
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Are there areas for recreation nearby, such as parks?
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Are there essential services nearby, like hospitals and a post office?
In addition, it is important to check the general look and feel of the area. Are there lovely landscapes and scenery nearby, or is it wrought with landfills or structures that make it less desirable?
What type of home do you need?
Photo courtesy of de Manio Eberley Group
It’s important to decide on the type of home that best meets your family's needs and which falls within your budget. Here are a few types that you should consider.
Condominiums and apartments
Apartments and condos give you less space and privacy than many of the types listed below. However, many of these properties will feature amenities, like a roof deck and a gym, that may serve your family well. Besides, the amenities, landscaping, and shared spaces are maintained by your association. If you’re looking for a property with fewer maintenance concerns, you may want to look at a condo for sale in Sarasota, FL.
Single-family homes
A single-family home offers you enough space for a small family and lots of privacy. You will not share any walls with your neighbors, and the house tends to be more spacious and open. This is a great property to raise a family, as there will likely be enough space for everyone to have their own room. There may also be a backyard, entertainment areas, larger dining space, and other features that make family life more enjoyable.
Townhouses
This property style offers less privacy than single-family homes, but it is typically larger than a condominium or apartment. Townhomes are usually managed by an HOA and will therefore require less outdoor maintenance than a single-family home.
The cost of buying a home
Buying a home requires a significant financial commitment. Therefore, you must plan your finances well beforehand so that you are able to finance your purchase and take care of other commitments. The best approach is to set a budget range to narrow down your search from the onset.
It is also beneficial to get pre-approval from your mortgage provider to ensure you’re aware of the maximum amount you can borrow for a home. In the same breath, evaluate all other financial obligations to determine the amount of cash you would pay without overstraining your finances.
Determine the costs related to your home
When evaluating the cost of your home purchase, some costs will be related to either the house itself or your mortgage. Here are some things that you should keep in mind.
Upfront costs
The upfront costs you pay to the lender will depend on the loan amount you take, the percentage of the down payment, and the fee. In most cases, lenders ask you to make a down payment of about 20% to 30%. If you work with a real estate agent, you will also pay a commission after selling your home.
Recurring payments
You will make regular payments for a decade or more, depending on your mortgage duration. There will also be property taxes, utility bills, and home insurance to consider.
Furnishing costs
Depending on the state of your new home, you will have to spend some cash furnishing your home. This may include lighting, kitchen and bathroom fixtures, furniture, and fittings.
Maintenance costs
The cost of maintaining your home varies, depending on the type and size of the property. Those who live in condos or apartments will pay a quarterly or monthly maintenance fee. You will also have to maintain your plumbing and lighting and deal with any pests or other concerns that arise.
Renovation costs
You may want to alter a few aspects of your new home, add a patio, or renovate your outdoor spaces. Seek a contractor's help to determine the renovation cost to plan your expenses. When buying a home, you may consider the essential renovations to help you with your decision-making.
Compare homes
Photo courtesy of de Manio Eberley Group
When searching for properties, it is a great idea to compare a variety of homes' sizes, amenities, and prices before settling on one. To narrow down the homes that best fit your needs, eliminate homes that are out of your budget or do not have the features on your “must-have” list. Whenever possible, take your family with you while viewing these homes to get different perspectives on how well the property will suit you.
An inspection is essential
Looks can be deceiving. A house may have structural issues that would not be evident upon a tour or walkthrough. Before you sign on the dotted line, it is crucial to have a professional home inspector assess the quality of the property. A home inspector will evaluate the home for any issues, such as problems with the plumbing, roofing, or foundation. They will also assess the home’s energy efficiency. You may be able to use the inspection report findings as leverage to negotiate the cost of repairs from the purchase price.
Work with a professional real estate agent
Working with an expert local real estate agent will be a significant benefit in your home search. Your agent will have insider information on the community, and they will be up-to-date on the status of the property and any other pertinent details. A skilled agent is also adept at negotiations and will guide you through the purchase process to avoid missteps. The commission you will pay for such services is a small price to pay to get everything right during your home-buying journey.
Are you ready to buy a family home? Contact
de Manio Eberley Group to assist you in identifying the right home and guiding you through the buying process. This
team has all the insider information on various neighborhoods across Sarasota and can help you find the perfect one for your family, from Siesta Key properties to Sarasota luxury homes. Reach out today to get started!
*Header photo courtesy of de Manio Eberley Group
