How to choose between two homes
Category Blog
In life, we are often faced with the challenge of having to make a difficult decision and we often wish that we had additional guidance to point us in the right direction. One of these tough decisions is having to choose between two properties that you are interested in. Choosing one is harder than it seems, says Mike Greeff, CEO of Greeff Christie's International Real Estate, especially if you are a first-time home buyer because you have little experience to go on. There is also the sense of urgency because you don't want to waste too much time trying to decide in case both homes are snatched out from under you.
If you have reached the point where you have assessed both properties and still happen to have difficulty deciding, consider these factors:
What is the price point of both properties?
One of the very first things to consider is the price point of both homes. If one house is well within budget and the other is at the top of your price range, then it's to be assumed that the decision process should be easy. However, often first-time homebuyers are torn because the house at the top of their budget is slightly more upmarket or bigger. Ultimately, it's your decision, but it could be safer to have a smaller bond and money in your bank account for day-to-day living, emergency expenses and savings.
Location is everything
Location is often the deal breaker, especially if one house has a shorter commute to work or is closer to other desirable amenities. But if both are similar distance-wise, then consider the quality of the neighbourhoods in each location. Neighbourhood quality can be an indicator of appreciation and market value. Ask your real estate agent for sales figures in each neighbourhood over the last few years to see which is increasing in value.
More conveniences
Knowing what is convenient for you could be the decision maker between two properties. Whether you are moving by yourself, or with your family, there will be certain conveniences that make a difference and can improve your family life. Look for those conveniences with each property you are indecisive about. Be it proximity to shopping malls, sports facilities, school districts, a range of amenities or any other factors - whichever house stacks up as the better choice could be ''the one'' for you.
Have a second (or third home viewing)
By now one property should be standing out more than the other on your pros and cons list. But it's important to see each property at least a few more times. Something may spring out at you that you didn't notice before and that might be the deciding factor. Try to visit at different times of the day so you see the home in a different light each time. Additionally, do a drive-by in the morning or evening during rush hour to see if there's traffic build up.
Think of the future
A property may seem perfect at the time, but its appeal can diminish as the years go by. Keep the next five to ten years in mind when you are looking to purchase. Will your family be expanding? Will your children have moved out of the house by then? Are rooms large enough for your family? Is there a garden and lawn for the younger kids and pets to play in?
Buying a home is a major life investment for most people and should only happen once you are completely at ease with your choice. At the end of the day, you have to make a decision that's right for you and your family.
Author: Greeff
