How to Set Priorities When Searching for a New Home

There are many sayings about home, most of which describe it as a place of rest, relaxation, safety, and belonging. When you have to move, whether across the country or across town, choosing a new home can seem like an overwhelming prospect, especially in a difficult real estate market.

To Own or Not to Own

The first question is whether you will rent or own your new home. According to one study, approximately 39 million U.S. households rent their homes. Renting can be a great way to try out a neighborhood without a long-term commitment. You may also enjoy not being responsible for major home upgrades and repairs as a renter.

If you are tired of renting and want something of your own, use an online mortgage calculator to figure out whether you can afford to buy a home. A calculator includes principal and interest along with other things you may have overlooked, like homeowners' association fees, homeowners' insurance, and private mortgage insurance.

Location, Location, Location

Start your search in locations with the services and recreation opportunities that matter most to you. Maybe gyms, lakes, rivers, state parks, good medical care, or highway entrances are at the top of your list. Depending on your family's needs, your must-haves could include a school with a teaching philosophy you appreciate, a high-quality early childhood education center, a specific place of worship, or an airport.

Another thing to consider is what sort of everyday convenience a neighborhood offers. For example, if you prefer small, local grocery stores over big-box stores or supermarkets, you may not be happy in a community without those. If you view a local coffee shop or bookstore as your home-away-from-home, don't start your search in a neighborhood without mom-and-pop establishments.

The Right House for Your Home

Now that you know which parts of town to search for your new home, it's time to decide what matters most to you about the property itself. Start with the usual things, such as how many bedrooms and bathrooms you need, and then think about other priorities. Because being outdoors is good for your health, do you need a place with lots of outdoor living space? Maybe you don't want to maintain a yard, but you do want the health benefits of living by a bike or pedestrian trail.

Think about places you've lived before. Did any of them have accessibility issues that were difficult to solve? Were they too close to roads or noisy businesses? Did you find that you really missed having a garage in your last place?

To keep your search focused and easier: Jot down everything that comes to mind, and then rank all of your concerns from most to least important. This will help you narrow down your search and help you find a house that feels like a sanctuary.

Making It Yours - Decorate!

Although you may not find a place that ticks all the boxes, hopefully, you'll find one that comes close enough. To finish making the space feel like your own, add personal touches, such as unique artwork (original wall paintings or affordable prints), your favorite style of furniture, and houseplants or light fixtures that help you relax.

Now you know what to look for in a townhouse, condo, house, or apartment. Here's hoping you find one that suits your needs as well as your tastes and priorities, whether it's your forever home or just another stop along the way.

Article contributed by Thomas Walker