Lynn D'Avolio
J. Barrett & Company | 801-597-2857 | lynn1@soldbylynn.com


Posted by Lynn D'Avolio on 8/6/2019

Buying a home is a decision that could have a major impact on your life for the next five to ten years (if not longer). That's why it's extremely important to know your requirements and what you need to be happy.

If you're in the process of looking for a house to buy, it pays to do an analysis of your financial resources, your goals, and your desired lifestyle.

For example, if expanding your family is part of your five-year-plan, you'll want to make sure the home you buy has enough bedrooms, play areas, and safety features to meet your future needs. The broad category of "safety features" could cover everything from the neighborhood crime rate to the amount of road traffic the street is subject to. Proximity to emergency services is also among the many things to consider when shopping for a new home.

Choosing an experienced real estate agent to help you navigate the many challenges of house hunting will increase the probability that the property you choose will be a good fit for your needs. A bank loan officer or mortgage broker can assist you in determining the type of mortgage you can afford and be approved for.

Other than affordability, sufficient space, and safety considerations, here are a few other items to keep in mind as you shop for your next home.

  • Commuting distance: Finding the ideal house that is located less than a half an hour from your business or place of employment can be difficult. That challenge becomes even greater if both you and your partner commute to work every day.
  • Number of bathrooms: Some homes only have one bathroom, which can quickly become a source of conflict and frustration in growing families. Making sure your home has enough bathrooms to meet your current and future needs is a key priority for all house hunters.
  • Miscellaneous requirements: Depending on your lifestyle and other factors, your home-buying priority list could include everything from a two-car garage and basement to a backyard patio and deck. If privacy is high on your must-have list, features like fencing, privacy hedges, and sufficient space between neighbors will also be important. Other items to consider may include a fireplace, space for a home office, and an eat-in kitchen.
There are literally dozens of characteristics, features, and advantages to look for when house shopping, so it pays to create a detailed list of everything you want, hope for, and can't live without! While it may be necessary to be flexible with certain items on your list, things like a good school district, a safe neighborhood, and house that's structurally sound and in good condition are requirements you may not want to waver from!





Posted by Lynn D'Avolio on 10/18/2016

Buying a home is one of the biggest decisions you will make in your life, financially and otherwise. When you buy a home you're deciding on the region you want to live in, where you might want to raise children, and the people you'll live around for likely many years. You're also signing up for all of the responsibilities that come with a home: utility bills, issues and repairs, cleaning the house, maintaining the yard... the list goes on. So, before plunging into a mortgage, check off all the items on this checklist to determine if you're ready for home ownership.

The First Time Home Buyer's Checklist:

  1. I know where I want to live. Determining the location of your home is one of the most important factors that goes into home buying. Most decisions are influenced by your job/career, but things like family, friends and weather are all important things to consider. Aside from knowing where you want to live, you'll also need to know how long you want to stay. As a general rule, if you don't plan on staying in your home for at least 5-8 years it could be cheaper and easier to rent until you find somewhere you'd like to settle in.
  2. I have my finances under control. You don't need to be wealthy to buy a home, but you do need to have a strong understanding of your personal finances. In a spreadsheet, write down your total savings, monthly income and monthly expenses (including groceries, transportation, bills, and loans). Find out what type of mortgage and downpayment you can afford at your income level.
  3. My income is dependable. When you apply for a home loan the bank will look into this for you. But you should also want to make sure you can continue to afford your mortgage payments. How dependable is your job? Are there a lot of job opportunities in your field and in your area? These are all questions that help you determine the stability of your income.
  4. I have a good credit score. Your credit will be a big factor in getting approved for a home loan. Building credit seems complicated but it's based on four main things: paying bills on time, keeping balances relatively low, having a long record of repayment, and not opening several new cards or taking on multiple loans in a short period of time.
  5. I'm pre-approved for a loan. Getting pre-approved isn't mandatory, but it offers many benefits. First, it shows lenders that you are a safe person to loan money to. Second, it will give you insight into what banks think of your finances and will give you an idea of what price range you can safely buy in.
  6. I'm prepared for the responsibilities of owning a home and willing to learn. If you're handy around the house and can fix anything, that's great. What's more important, however, is that you have the time and willingness to learn new skills that will help you become a good homeowner.