2020 Residential Home Draft
Hi everyone. Today is an amazing day. Those that know me, know I love sports and sporting events. The last 6 weeks or so we’ve been without live sports here in the United States. Tonight we get to witness a live event, although it’s not a game, it’s still an exciting live event. The 2020 NFL Draft is tonight. It was originally supposed to be complete spectacle in Las Vegas. It will not take place in Las Vegas as originally planned, but it will done virtually. I find this process so fascinating as we’ve all been relegated to doing things virtually including meeting with coworkers, family and friends.
I love the draft process, so I thought I’d create a general 7 round draft using the residential home search. In this draft, I’ll talk about 7 items that I find important when choosing a home for myself. I’ll go into a little detail. This is completely my list. You may not completely agree with the items or the order. But feel free to use this as a guideline or ask questions.
7. General Needs (Family)- What do I mean by this? I have 3 children ranging from 5-15. It is important to me to find a neighborhood or home with other children. The kids can go outside, ride bikes, play sports and really grow their imagination. At the same time, you have a bond with the other families. As a family, it gives us a sense of security knowing that the neighborhood is growing up together.
6. Lot-This includes several different things. If I’m building a house, what does the lot look like prior? What will it look like after construction? How large is it? What is the future of the neighborhood and what affect will it have on my lot later? If it’s a preexisting home, is it flat? Where does the water go? Is there usable space? What are the boundary lines? What can I do or add to the yard or lot? Are there utilities buried or visible? What type of privacy is there? What can I do on it or with the lot?
5. Investment-It’s best practice in my opinion to treat a home purchase as an investment. No one can predict the future of the market or the time and terms of which we may look to resell. However, I want to be able to put my style, touch and additions or subtractions on a property to seemingly add value in the future. With this and the paying down of any mortgage, my hope is to maximize any equity I have in the property for any future resale.
4. Bedrooms-Simple, how many bedrooms does this home have. How many bedrooms do I need? In our case it’s four. Do four bedrooms exist? If so, where, main floor, 2nd floor or basement? If not, is there a way to create another bedroom if necessary?
3. Construction-What type of foundation, poured or block? I personally like poured. All foundations can crack and leak. I feel more security with a poured foundation. Is there brick, vinyl, stucco, etc? I really like brick. All brick would be ideal, but some siding or stucco looks good as well.
What’s the floor plan? Is it open or segmented (walled off room to room) I enjoy an open floor plan and prefer not to open it up myself.
What are the room sizes? Big bedrooms, more specifically the master bedroom? Is there a master bath adjoining? How many bathrooms? With 5 people in one house, multiple bathrooms is a necessity.
What’s the square footage? With 5 people in one house, having some individual space is important.
Is the basement full? Is it finished? If not, can I finish it? This goes back to space. As the kids grow and spread out, this can be the best way to expand the home. I know from experience.
2. Price-I would love to live in a 6000 square foot home, with a pool, huge lot, open floor plan, giant theatre room and basement bar. It sounds amazing. My bank just won’t allow me to purchase it:) Realistically, I go to my lender. I let him/her decide what I can afford:) Just because they say I can afford something, doesn’t mean I truly can. I have to figure in my lifestyle, my future plans and goals. I want to find something that checks all of the boxes, but that I’m comfortable living in.
1. Location-The first thing in real estate school they teach you is “Location, Location, Location”. A lot of things figure into location as well. We could be talking about the actual physical location of the lot or home. What school district is the property in? What school district do I want to be in, if I have a preference? What is the neighborhood like? Is it safe? I can look up information on schools and crime. What is it near? I want to be near main areas, grocery stores, highways, shops, restaurants, bars, parks, schools and churches. I definitely do not want to drive more than 15 minutes to any of those. Those are the places we travel to the most.
This completes my residential draft. This is solely my own personal opinion. If I was in the process of buying a home these would be the rank of importance for me. I would love to hear your list. Feel free to send it to me thru facebook or email.
I look forward to seeing and hearing from all of you soon. Stay healthy my friends:)