Embarking on the home-buying journey is exciting for many home buyers. It can be tempting to jump into the home search and start learning about all the properties available in the Greenwich area on your own. However, there are many factors to consider when looking for your next piece of Greenwich, Connecticut, real estate. If you are in the market for a new home, check out this list to learn more about what you should consider in your home search to find your dream home.
Even if you know you want to move to the Greenwich area, it is still important to research the location. Greenwich and the surrounding area are home to several distinct neighborhoods that each support a different lifestyle and a unique set of amenities. Whether looking for laid-back living, historic charm, or ocean views, you can find it in the Greenwich area.
Greenwich boasts a bustling shopping district for those that want to walk to the stores and miles of stunning coastline with beachside bungalows. The area has numerous parks and nature preserves, allowing those looking to get outside to put gorgeous outdoor venues in their backyard. With a variety of real estate offerings, learning more about the local area can help you narrow your home search to the community best suited for you and your family's unique set of needs.
When considering the location, you will also want to have more than just your personal preferences in mind. Especially if you need to commute to work or are raising a family, where you decide to settle can have a big impact on your quality of living. For commuters, choose a location that allows easy access to your place of work. Picking a home that is close to a highway exit and is set away from areas that get congested with traffic can help make your drive to work smoother. Families looking for the ideal community to raise their children will want to find a community with a high-quality school system and ample places for outdoor recreation.
Before setting out to find the perfect home, having a budget in mind is important. Otherwise, it can be easy to get lured in by luxurious amenities and end up overspending. By having a set budget and sticking to it, you can avoid temptation by not seeing homes that are more expensive than you are willing to pay.
Look at how much you have saved for a downpayment, and be sure to consider other fees that may pop up, including insurance and Home Owners Association fees. If you are unsure, sitting down with a real estate professional can help you navigate the process and conclude how much you can spend before checking out homes for sale in the area.
Local housing market
Research the local housing market and speak with a qualified real estate agent
before getting serious about buying a home. Depending on the state of the Greenwich housing market, you may need to adjust your home-buying strategy to ensure a successful transaction. For instance, you may not have as much negotiating power in a seller’s market where homes sell quickly and for the asking price.
In that case, if you find your dream home, you will have to be ready to act fast and buy at top dollar to secure the property. However, in a buyer's market where there is less competition, it may be in your best interest to shop around and negotiate on a home, saving you some money in the end.
If you are looking for a home to enjoy for many years to come, it is essential to find a home that you will not outgrow in the foreseeable future. Especially if you will be raising a family, buying a home you can grow into is essential in ensuring your continued enjoyment of the property. However, it is important to balance your needs so you do not buy too much home for the present in anticipation of the future. Even if the home may not fit your needs forever, if it has good potential to be renovated and space for additions, it can still be a good buy. You should look for a home that can grow with you.
Condition and resale value
Some home buyers are happy to get a fixer-upper cheaply and renovate it into the perfect home. However, many buyers would rather buy a home in good condition so they do not have to worry about renovations or repairs for years. Always be sure to get an inspection on any home you consider putting an offer on. Even if the property appears in good condition, about 65% of home inspections
will uncover some issue. Even if the problems are minor and do not delay closing, it is still important to know before making the investment.
Even if you are not planning on selling the home for years to come, it is still beneficial to consider the home’s resale value before purchasing. Real estate is a substantial investment that can come with a big return, especially in a highly sought-after area like Greenwich. A real estate agent will compare the home to others in the area and can help you determine if the property has the potential to increase in value over the years.
Buying a new home is a chance to make your dreams come true. Maybe you always wanted an oceanside cottage with surf views or thought it would be nice to have a luxurious outdoor seating area to enjoy balmy summer nights. Maybe you work from home and would like to have a separate room to use as an office space or could use a state-of-the-art kitchen to further your cooking hobby. Before looking at homes in the Greenwich area, have a list of all the must-haves you are looking for. This will help you convey your vision to your realtor so they can assist you in finding the home of your dreams.
The realtor you put behind your home search can make or break the success of your sale. Gen Next Real Estate has been serving the Greenwich area
for years and comes with the experience to make your homeownership aspirations a reality. Give Gen Next a call
today to get started buying your new Greenwich home today.*Header photo courtesy of Shutterstock