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Buying a home whether it is your starter home or your investment home is a big decision. It is a long term commitment - both financially and mentally.  Here is a list of factors that you should consider when you are trying to find a home. 

 

 

• Location - This is the most important factor in deciding whether the home is suitable for your in short term and long term. You should look at the school district, neighborhood, age of houses, distance from major freeways, and how close it is to your workplace (commute), dinning and shopping. Entertainment is an important aspect for families and this includes access to parks. In Texas, Home Owners Associations (HOA) are very common and you need to make sure that you understand the restrictions of the HOA. If you travel frequently for your job, you may want something closer to the airport. If you are an outdoors person, you may want access to running trails, hiking trails and parks.

 

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• School District: School districts play an important role in deciding the price of a neighborhood. If you have kids, picking a good school district can provide access to excellent school districts and facilities for your kids. On the other hand, even if you do not have school age kids, good school districts help in maintaining and increasing the value of homes over a period of time. You can also consider private schools in Dallas area depending on your needs.

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• Size & Expansion Potential - You should consider your personal situation now and in near future when you are deciding on the size of a home. Your needs change dramatically when you have kids as they need space to play, study and have fun. In addition, if you have to work from home, you may want an additional office. As the kids get older, they will need more storage space and independent rooms. Remodeling homes can be quite expensive and may not be even allowed by 

 

• Type of House - Depending on your personal taste and needs, you may want a single story home or a condo or a home with a in-law suite so that your parents can stay with you but have privacy. Do you want a home with character and history or do you want a brand new home with latest style? If you like to cook, you may want a bigger kitchen and if you own expensive cars, you may want a bigger garage. Do you want to interact with your neighbors on daily basis or do you want a secluded lot in a suburb? Do you want to keep farm animals and would prefer a home in a rural area with some acreage?

 

• Cost - You should look at what you can afford and then decide the best option based on your budget. Buying and selling a home is an expensive process as there are a lot of fixed costs like closing costs and real estate agent commissions that are involved. There is also a maintenance cost involved with a house that includes things like repairs and maintenance.