Deciding to buy a new home is an exciting and overwhelming experience, and it’s easy to get caught up in the process of it all. However, you should know many essential factors before signing on any dotted lines. At Southern Homes Collective, we have put together a few steps to ease your journey through buying a new home!
One of the most important things to consider when purchasing a new home is the location. It’s not uncommon to find a beautiful home online and then arrive to a neighborhood that leaves much to be desired. You’ll want to think about the surrounding neighborhood, public transportation, safety, entertainment, walkability, and more. If you have children, you may want to look for a home close to a good school district. And if you commute to work, you’ll want to find a convenient place for your daily commute. Overall, location contributes significantly to your quality of life both in and out of your home.
2. The Community
A good community will be safe and welcoming, with plenty of things to do nearby. Here are some things to look for when choosing a community for your new home:
- Safety: Is the neighborhood well-lit and free of crime?
- Noise Level: Are you in a busy college town? Or a quaint neighborhood?
- Amenities: Are there parks, shops, and other amenities nearby?
- Transportation: Is the community walkable, or will you need a car?
There is no right or wrong when it comes to community preferences. You just want to find the perfect fit for you and your family!
3. Rooms and Size
You will want to make sure that the home has enough room for your furniture and belongings or to grow into as a family. It is also critical to consider the layout of the rooms in the home to ensure it makes sense for your needs or that you can change up if you’re going to do renovations. For example, some homeowners prefer a first-floor master suite, while others prefer a downstairs laundry room.
4. Quality of Construction
Here are some things to look for when you’re inspecting the quality of construction:
- Materials: Are the materials used high-quality? Will they stand up to wear and tear?
- Workmanship: Is the quality a high standard? Are there any shortcuts that have been taken?
- Design: Is the overall design sound? Is the home built to last?
If you’re concerned about the quality of construction, it’s a good idea to hire a professional inspector to look at the home before you buy it. This way, you can be sure that you’re getting a quality product with no significant structural issues.
5. Homeowners Association Fees
Generally, HOA fees cover the costs of maintaining common areas like pools, playgrounds, and landscaping. They may also cover community building insurance and repairs and security. These fees can add up, so it’s important to know what they cover and whether or not they’re worth the cost.
Before you decide whether or not to pay HOA fees, you’ll need to weigh the pros and cons. On the plus side, HOA fees can make it easier to budget for expenses related to your home. On the downside, they can be expensive, and you may disagree with how the HOA spends your money.
You should also keep in mind that not all communities have an HOA. If you’re looking at a neighborhood that does have one, be sure to ask about the fee structure and what it covers. This way, you can make an informed decision about whether or not it’s right for you.
6. Warranty Information
When you buy a new home, you should always ask for warranty information. This way, if something goes wrong with your home, or if a natural disaster like a flood or tornado occurs, you will be covered. Most new homes come with a one-year warranty, but it is always best to ask and be sure. If it does not come with one, you can add a home warranty, and many companies offer different plans.
7. Property Tax
Depending on the location of your new home, property taxes can be quite high. Be sure to factor this into your budget. You’ll be able to find taxes by zip code ahead of time to see what ballpark your monthly (or yearly) taxes will be.
8. Additional Expenses
When you’re buying a new home, it’s important to be aware of additional expenses that you may not have considered. Here are a few things to keep in mind:
- Maintenance and repairs: Even if you buy a brand-new home, some maintenance and repair costs will be associated with ownership. Make sure you have some money set aside for these inevitable costs.
- Furnishings and decor: Unless you’re moving into a fully furnished home, you’ll need to budget for furniture and decor for your new place. This can be a significant expense, so be sure to factor it into your budgeting.
- Closing costs: Several closing costs must be paid when you buy a new home, such as loan origination fees, appraisal fees, and title insurance fees.
Pro Tip: Get a Local Realtor’s Help!
Buying a new home, especially when moving to an up-and-coming, fast-growing area like Nashville, TN, can be intimidating. However, having a local realtor to support you, asks the right questions, and find prospective homes makes the process smoother than ever!
Southern Homes Collective: Real Estate Agents in Williamson County, TN
Are you looking for a knowledgeable and trustworthy realtor to help you find your dream home? We are here to help! We are proud to serve the communities of Brentwood, Franklin, Fairview, Thompson’s Station, and beyond.
When you’re ready to buy or sell your home, choose a team that will happily support you every step of the way. Reach out to us today to start a conversation!