Am I buying the right home?

Don’t let your emotions overrule a reasonable assessment of whether a particular home really meets your needs.

Following, are a few of the questions you should ask yourself before you rush into a commitment to buy:

  • Price
    • Are you comfortable with the monthly payments you’ll be obligated to make?
    • Is the down payment within your means?
    • Will you have enough cash to pay transaction costs and moving expenses?
    • If the house needs major repairs, remodeling or redecorating, can you save the necessary funds within a reasonable time period?
  • Condition
    • Does the home need a new roof, extensive upgrading of the electrical wiring, new plumbing?
    • Will you be able to meet the financial challenges and live with the mess and inconvenience while the home is being brought up to your expectations?
  • Size and configuration
    • Is the house the right size for your needs?
    • Does it have the right combination of bedrooms, bathrooms and other living areas?
  • Comfort
    • Does the house have central heat and air?
    • If the house has two stories, are you comfortable with the idea of walking up and down stairs every day?
  • Style
    • Is the design and architecture of the house too modern or too traditional for your preferences in furniture and home furnishings?
  • Resale potential
    • If you wanted to sell your home, or were forced by unexpected circumstances to sell it, how easy would it be to find a ready, willing and able buyer?
  • Features
    • Are the amenities that seem attractive and desirable at the time of purchase, likely to prove to be more headache and less pleasure than I anticipated (swimming pool, high-maintenance ornamental trees, expensive hardwood floors)?