What to Look for When Buying a House in Lincoln Village

by Lance McHan

Did you know that 63% of homeowners between the ages of 23 and 38 suffer from buyer’s remorse?

Because buying a home is one of the most important purchases of your life, it’s important you get exactly what you want. If you’re ready to take that step but don’t know what to look for, you came to the right place.

Read on to learn what to look for when buying a house in Lincoln Village.

The Right Price

Before you start searching for a Lincoln Village house, it’s essential you determine the right price. The right price will be different for everyone based on what they can afford.

To determine how much you can afford, you can take advantage of many online tools. For example, an affordability calculator will give you an estimate based on your income, down payment, and debt to income ratio.

After you get an idea of what you can afford, it’s time you get pre-approved. The pre-approval process will essentially approve you for a mortgage before you start looking.

You will get a letter from the bank stating the loan amount based on your income. It will also state the estimated interest rated based on your credit score.

Location, Location, Location

When looking for a house in Lincoln Village, start thinking about the location. Talk to your real estate agent about the things that are important to you.

For example, do you want proximity to schools, night-life, downtown, restaurants, and more?

Families will most likely prioritize the proximity to an excellent school district, rather than nigh-life.

The Long Term

Before you start the search for your new Lincoln Village home, it’s important you think long-term. What are your long-term housing plans?

Do you plan to start a family in the next few years? Do you dream about relocating to another state?

Many people also like to make upgrades after buying a house, so it’s important to ensure the space fits your vision.

Also, if you don’t have children, an outdoor space might not be as important. However, if you’re planning on starting a family soon, you might want to prioritize a back yard.

The Condition of the Property

One thing to consider before putting an offer on a Lincoln Village home is its condition. While some people are okay buying a fixer-upper, others want a move-in ready house.

Move-in Ready

If you don’t wish to upgrade, you should look for a move-in ready house. Most move-in ready homes are either new or recently renovated.

Potential buyers who want to move in and start living their lives should look for a move-in ready house.

Minor Renovations

A home needs minor renovations when the updates are purely cosmetic. For example, the house might only need a coat of paint or updating some fixtures.

If you want to make minor updates and customize it to your personal style, then look for a home that needs minor updates.

Major Renovations

If the house has wallpaper from the 70s and appliances from the 90s, you’re looking to make major renovations.

Those who buy a house that needs major renovations usually want everything customized to their taste. Many people go for a fixer-upper because the houses tend to be more affordable.

The Exterior of the House

When you’re in the homebuying process, you also need to pay attention to the exterior of the house.

Although you will need a proper inspection to learn if something is wrong with the exterior of the house, you can tell much by looking at the exterior.

When you arrive at the property, make sure you take a look at the roof, foundation, and siding. If something doesn’t look right with any of these components, you should get it professionally inspected to learn the extent of the damage.

Don’t Make Minor Cosmetic Details a Priority

Unless you buy new construction, no house will ever be perfect. When you’re in the process of buying a home, you need to look at the bigger picture.

Don’t let things such as paint, landscaping, hardware, or furnishings prevent you from buying the home. You can change all of those things to fit your taste.

Instead, focus on making sure the structure of the house is in top shape.

Make a List of Must-Haves

Before you start searching for your new home in Lincoln Village, ensure you have a list of must-haves. For example, some people rather have a shorter commute to work than have walk-in closets.

It’s also important to learn the difference between wants and needs. While you might need a laundry room, a fireplace might be optional.

Start by making a list of what you want and what you need:

Needs:

Two car garage
Laundry room
Short distance to work
The right number of bedrooms and bathrooms
Excellent school district

Wants:

Smart home
Pool
Updated kitchen
Dishwasher
Distance to restaurants

Knowing the difference between wants and needs will help you in your search.

Visit During a Busy Time

If you go to a house showing early on a Saturday, you might discover everything is quiet. However, it’s important you visit the home during the busiest time of day.

If you visit during a Monday at rush hour, you might discover heavy traffic and noisy streets. Ensure you’re comfortable with the amount of activity during the busiest time of day.

HVAC System

Before you put an offer on the house, you need to learn about the cooling and heating system. If the system is too old, you will expect to see high energy or repair bills.

The type of HVAC system the house has can make or break the deal.