Here is a guide to finding the right balance.
Create a List of Must-Haves
The best way to strike the right balance is to have a list of must-haves both for your property and for the location.
For example, a property must-have could be that it has three bedrooms or that it has a big garden. A location must-have may be that it is near to a good school or that it has good public transport.
By listing these down, you will have some clear criteria to follow when you start your property search, and this is a useful house hunting tip. As long as the property and the location both match your must-have features, you can safely put it down as an option.
Obviously, one of the main issues will be the price. You may already have got a mortgage loan (learn more about these here). You will therefore have a good idea of what you can afford, and it makes sense to only search within your budget to avoid disappointment.
List Your Desirable Features
As well as the features that you must have in your new home and the location, list down features that are desirable. For example, you may want to live within walking distance of a grocery store, but this might not be an absolutely essential feature.
Once you have created lists of the must-have features, as well as the features that you want but, are not essential, you can start using these to make your decision.
For example, if you find the perfect property but the area is not perfect, you can check whether the neighborhood still has all the essentials even if there are a few desirable features missing.
Speak to the Locals
When you are assessing a neighborhood, or you are still in two minds about the area, try to speak to the neighbors. Walk around the area and see if you can strike up a conversation with someone, and they will often be able to alert you to any problems that the estate agent has not mentioned. You can then use this information to help you make your decision.
Use Your Instinct
Sometimes you simply have to go with your instinct. You will often get a good or bad feel for a property the moment you step inside, and the same is true of an area.
If you find a property you really like, make sure you explore the area slowly and carefully. Go for a walk around, spend an hour simply walking and observing. Could you imagine yourself living here? If so, you may be onto a winner.
Don’t Wait Too Long to Find Perfection
Everyone wants to find the perfect house in the perfect area when they start searching for a new home. But if you are only looking for perfection, it could take a long time to find what you are looking for.
Instead, understand that there will always be little things that you don’t like, either with the property or the location. As long as these are not deal breakers, make sure you at least consider them.
Eva Curtis shares her top tips and thoughts with home buyers and sellers. She has worked in the real estate industry for many years and has a wealth of knowledge to share with an online audience.
James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.
