New Home Selection Variables: Location, Size, Storage

If you've recently entered the home market and begun your search for a new home, there are a number of things you may be considering within this realm. Every buyer has slightly different overall priorities and goals for homeownership, but at the same time, they're also often considering many of the same general themes as they move forward with their eventual purchase. 

At Primary Residential Mortgage, we're happy to assist homebuyers with a wide range of quality mortgage programs, plus help with numerous areas of the entire mortgage acquisition and home search process. What are some of the numerous variables you might be thinking about as you enter the home search process in particular? In this two-part blog series, we'll go over several.

Home Location

One of the first and most important variables in your home search is going to be location. Location can affect numerous other factors related to your home, including commute times, school districts, local property taxes and more. It's important to choose a location that not only meets your current needs but also has potential for future needs as well.

For example, if you're single now but may want to start a family in the next few years, you might want to buy a home in an area with good schools. Conversely, if you're nearing retirement, you might want to be closer to conveniences and entertainment so that you don't have to drive as much.

Home Size

The size of the home you ultimately buy is also going to be a major deciding factor. Obviously, the larger the home, the more expensive it will be. But size also has implications for things like upkeep and future needs.

A large home with a big yard might sound great now, but it could become a burden if you have to maintain it yourself. Alternatively, a smaller home might be easier to care for but could feel cramped if you have guests over or start a family. It's important to think about your current and future needs when deciding on home size.

Storage Capabilities

Another major variable to consider is storage. Does the home have enough closet and cabinet space for all of your belongings? Is there an attic, basement or other out-of-the-way areas where you can store things you don't use often?

If you have a lot of stuff or plan on accumulating more in the future, you'll want to make sure the home you buy has enough storage to accommodate it. Otherwise, you'll constantly be struggling to find places to put things and may even have to rent off-site storage units.

These are just a few of the many variables you'll need to consider when searching for your new home. In our next blog post, we'll go over some further factors to keep in mind. Stay tuned!

For more on this or any of our mortgage programs, speak to our team at Primary Residential Mortgage today.