How to Make the Choice Between Two Homes
Finding the right house is an unmatched feeling that many buyers fear they will never feel. When it does finally happen after searching for a few weeks or perhaps even months it is enough to make your heart sing! As you walk from room to room you may imagine moving in your furniture and adding personal touches or the memories you and family and friends could create in each space. But what happens when you find TWO dream homes? Making the decision between two houses can be difficult when they both feature affordability, space and great features. To avoid feeling buyer’s remorse after purchasing a home, there are a few factors to consider when making your choice.
Location Location Location!
Neighborhood amenities should be closely examined when comparing two dream homes.
If both homes are perfectly suited to meet a your needs, it may make sense to go outside the house itself for more insight. When moving into a new house, you aren’t not simply moving to a new home, but also a new neighborhood. Hence the real estate mantra “Location, Location, Location.” For this reason, compare the communities the two homes are located in to determine which one is a better fit. There are several factors you should consider, such as proximity to your office, how the school systems compare with surrounding areas and the crime rates of the neighborhood. Location to family and friends may also play a role.
It can also be helpful to meet some of the neighbors and ask about their experiences living in the area. Polls and statistics can also tell you a great deal about a community, but speaking with the locals allows you to both learn more about the culture of the area and introduce yourself to prospective new neighbors. This actually saved my husband and me from buying a home in a flood zone when we were first time buyers!
In many cases, a homeowner may have goals that drive what type of home they are seeking out. For example, some may be looking for a starter house while others are seeking out a property they can retire in. It can be helpful to examine prospective houses against those in the neighborhood. If you are planning to sell this home within a few years and other houses in the area are depreciating in real estate value, this may influence your decision. On the flip side, properties in some areas may be appreciating in value, which can be beneficial to your long-term goals.
In addition, owners who are comparing the prices of two homes may want to speak with their real estate agent about whether there is room for negotiations with the sellers of the two properties. If money is the deciding factor, your may find that you will get a better price with one seller over the other.
Have you ever been torn between two homes during the purchasing process? What made you choose one over the other?