Everyone needs somewhere to live, and those who do not choose a place to rent, such as an apartment, will instead look for a house, and to buy a home is to take a major step into adulthood. But this is also a big responsibility that should be taken seriously; new homes and new houses for sale are expensive, and there are a lot of factors to juggle when browsing new houses for sale. But looking for a new home does not have to be overwhelming; while there are many factors to consider, there are some basic strategies common to most efforts to find new houses for sale, and a purchase can be made with confidence. Home buyers young and old may also look to real estate agents for help, and this way, the right home with the right features can be found for a fair price. What might a home buyer look for when browsing new houses for sale in a neighborhood? Who is buying?
The Market Today
New houses for sale are often available in nearly any community, and in some areas such as Los Angeles or Miami, these housing markets may be robust. Florida, for example, is a popular state for people to move to, and for this reason, the housing market there is strong but also involves higher prices, so buyers should be aware of this. Experts keep track of housing trends across the nation, and they found that, according to Neighborhood Scout, the median home value in Florida is around $209,623, but only about 1.5% of all Florida homes cost more than $1.42 million, meaning that many other homes may be in the price range of middle-class home buyers. This is no small market; 7.42 million homes and apartments are available in Florida today.
Across the United States, families, two people in a couple, or even individuals are looking for homes to buy, and the real estate market vigorously keeps track of who is buying homes where and for what price. They also take note of the age group of different buyers. For example, the Millennial generation, those born 1982-1995, are just now old enough to afford major purchases such as cars or houses, so these new big spenders are of great interest to many markets, and the housing market is no exception. And while general trends show that Millennials tend to rent their living space or remain in their parents’ residences for various reasons, more and more of them are joining the older generations in the housing market, something of great interest to real estate agents. Trends show that Millennials are often finding homes to buy in recent years; in 2017, there were 2.07 million homes bought by first-time buyers, many of whom may be age 35 or under, and this represents a 7% increase from 2016’s numbers. With all this in mind, what are home buyers looking for in a property?
Making the Purchase
Young or old, a home buyer will have a lot of factors to consider. There are too many to list comprehensively, but some common ones can be considered. One is the general area, or as the old saying puts it, “location, location, location.” A neighborhood’s properties may be more or less valuable based on nearby features in the community, ranging from parks and restaurants to schools, office buildings, and of course shopping centers and grocery stores. Some features, such as parks or schools, will be especially important for families, and a person who recently got a new job in a new area will want to find a house that is fairly close to the workplace.
The property’s size, rooms, and condition should also be considered, and some things can only be evaluated meaningfully in person. The house should be toured, and the potential buyer can check for such things as drafty windows or doors, dry rot or termite damage, creaky floors, leaks in the basement, or faulty electrical sockets. Usually, it will be used homes that have such issues, but a new home should still be inspected, just to be sure, and a buyer can get the “feel” of a home only by wandering its halls in person.