Wednesday, June 2, 2021 / by Chris Carozza
First-time homebuyers are faced with many challenges and dilemmas. When you are in the market to buy a home, one of the first things you need to decide is where you want to live. Perhaps you have family ties or a job that draws you to a particular state or region. Even then, you have a lot of options. Recently we’ve seen more people flock to the suburbs and away from busy and crowded downtown areas of major cities. If you feel like you fit the description, we offer you our guide for first-time suburbanites for buying a perfect home.
Many young people have felt their habits and lifestyle change due to the lockdowns we have faced the last year. Now that the pandemic is reaching its end, we will be living in a post-covid world. The time has come to re-evaluate your priorities. Working from home and fewer nights out have made city centers lose their appeal. And for first-time suburbanites, buying a perfect home away from the chaos of the big city sounds more attractive than ever. Here is what living in the suburbs has to offer:
? Cheaper mortgages. Real estate is more affordable, and you will be able to pay off your home faster. This also means that you can start building up your savings more quickly – which is really important in today’s world.
? Lower cost of living. The suburbs are cheaper for day-to-day expenses as well. No more spending 20 dollars on a fab-frappuccino. You can still get great coffee at local cafes; you’ll just save a lot while doing so.
? An actual community. By living in the suburbs, you will experience fewer changes in your neighbors. You will be able to meet and connect with the local community.
Everything comes with pros and cons, and suburb life definitely isn’t for everyone. Some people just enjoy the fast-paced big city life, and that’s totally fine. It’s also highly subjective. Here are some other criteria for you to consider:
? Lower-income for an investment property. If you are buying in order to rent, the real estate prices will be lower, but so will the income.
? Harder to find tenants. You will probably also have a more challenging time finding tenants who are interested in the suburbs.
? Harder to find roommates. If you don’t plan to live alone, you might struggle to find a roommate who wants to split the bills.
To find the perfect home, you can make a checklist of what you are looking for. Think about what your specific needs are when it comes to the house itself. Be precise when talking to your real estate agent and talk to them about:
? Amount of space. How large do you need the home to be? Larger homes are nice, but they also cost more. Before you get lured in by the lower real estate prices, you should determine precisely how much space you need.
? Home office. How many times did you hear that term before last spring? With more people working from home, investing in a home office might be a good idea. A separate room is nice, but a corner desk can do the trick too. Just remember to plan ahead.
? Yard. Some homes have both front and backyards. They do require maintenance but can be very rewarding. Have you ever dreamed of a backyard pool or a porch deck with cozy wicker chairs? Pick a house with a suitable yard and make it happen!
? Specific features. Think about anything out of the ordinary that you may need from a home. You might be able to find some houses with the features you need already built-in. For less frequent features, like accessible bathrooms, you should ask your realtor. However, be prepared to make some adaptations if you don’t find exactly what you are looking for.
When searching for the perfect home keep in mind what amenities you would like to be close to. This will help narrow down your search to neighborhoods that have the most value to you. Here are some of the things you might want to be close to:
? School. If you have kids, living near the school will make life a lot easier.
? Transportation. What does your daily commute look like? Will you need to be close to public transportation or near a road exit?
? Markets. Try to find something near a mall so that you don’t have to travel far for essential groceries.
? Dining. Depending on how much of a foodie you are, the choice of local restaurants might be important to you.
First-time suburbanites might find that buying the perfect home is just the start of their journey away from the city. Maintaining a house takes a lot of work. You might not realize just how much if you have always lived in apartments and never in a house. Homeowners often take pride in how their house looks. Many people take pleasure in caring for their garden or home, and it can be an excellent excuse for spending time outdoors and being active.
When moving to the suburbs from across state lines, you might want to do a bit of research. For example, you might need the help of interstate movers with experience if you plan to leave NYC for good. If you are planning an interstate relocation, it's a good idea to go scouting and visit the home you want to buy. Make sure you like the neighborhood and home after seeing them in person.
You also need to think about the state of the house itself. Unless you are experienced when it comes to home repairs, you should avoid getting a fixer-upper. Aim for a home that is in good condition and doesn't require a lot of investing on your part.
We realize that it's stressful buying a home, especially if you haven't lived in the suburbs before. Living away from the city can be an amazing and relaxing experience. For first-time suburbanites, buying a perfect home can be a dream come true.