Buying a house is one of the most important financial (and emotional) decisions you will make in your life. That’s why you should take into consideration the things that will affect your current and future lifestyle and financial state.
To get you started, here are key factors to consider when buying a house:
Location
One of the most important things to consider when buying a property is location. It doesn’t matter if the real estate market fluctuates at any given time — a great location will remain an asset. You can make an unattractive house attractive but you can’t make a bad location great. Moreover, properties in a good location typically translate to a profitable investment. Also, consider a place near your work or near schools to save you time and transportation cost. Even if you don’t have kids, having good schools nearby can boost home value.
Neighborhood
The San Francisco real estate market has many beautiful neighborhoods and you only have to find one that’s best for you. Look into features that are important to your lifestyle, such as nearby schools, parks, shops, transportation, and so on. If you’re moving with your family, check if the neighborhood is family-friendly. Have a quick chat with some of the neighbors for a better picture of everyday life in the area. Look into the neighborhood’s safety — you don’t want to live in a place with a high crime rate. Instead, you’d want to have welcoming neighbors and a location with a great sense of community.
Your emotional and financial readiness
Not everyone is privileged and ready to become a homeowner. Before you get overwhelmed with the many attractive San Francisco homes for sale, ask yourself first if you are truly ready to own a house and shoulder the responsibilities that come with it. Keep in mind that mortgage payments are just one part of homeownership expenses. You also need to spend on home repairs and maintenance, utilities, HOA dues, property insurance, and others.
Local market indicators
You have no control over the local market, so the best thing you can do is to ask your Realtor for help on how to navigate it. If you’re planning on investing in San Francisco real estate, for example, you must be prepared to pay around $1.35 million – the median price of homes here. If the usual price tags here are beyond your financial capacity, your agent can recommend areas in the outskirts that will still keep you in close proximity to San Francisco.
There are also a number of reliable websites showing up-to-date reports of local market conditions. But a trusted local real estate agent can help you to understand these reports and to offer options you may not know about, such as buying a distressed or foreclosed property.
Work with a local expert
A savvy Realtor will protect your interests and understand your goals and needs. They can walk you through the buying process – from searching for the perfect home to negotiating the right price and navigating home inspections. Your Realtor will also keep you in the loop about the real estate market and give you the latest information firsthand.
Ready to see the wonderful properties for sale in San Francisco? I’m one of the top San Francisco real estate agents and your partner in your search for your ideal home. Connect with me — Amir Hardy — today at 415.602.0570 or send an email to amir(dotted)hardy(at)compass(dotted)com.