Planning For a New Home for the New Year
Buying a new home and packing up your whole life is a big undertaking! There are so many variables that can throw your plans off course. Prepare for your big transition with this moving checklist from the GreenTech team!
Plan Your Budget
A new home is one of the biggest purchases you will ever make. To make your move less stressful, start planning your budget yesterday!
If you know where you want to move, begin comparing home prices. Compare houses that are similar to determine the average cost in that area. Look at details like:
- Square footage
- Build year
- Recent remodels or upgrades
- Property size
- Garage size
- Number of bedrooms and bathrooms
These factors drastically impact the overall cost of a home, and will help you gauge the market in your desired area. Use tools like Zillow and Redfin to make comparison shopping easier.
Set Aside Two Important Funds
When planning your home buying budget, be sure to dedicate money to two essential funds. Your down payment is the first fund, and should include 10% to 20% of the cost of your home. This sum is crucial to the purchase process and will make financing much easier. A solid down payment gives you flexibility. You can avoid private mortgage insurance, you’re a more competitive candidate to the seller, and you save money by paying less interest.
The second important fund is an emergency fund. Buying a new home will likely forego the need for this fund, but an old home can quickly eat into your savings. Having a healthy cushion for emergency repairs and surprise expenses can be a big help when moving. Even if you buy new, having this money set aside can come in handy for other personal emergencies that may need the attention of your wallet.
As a side note, avoid big purchases. Your home purchase is the priority right now. Any extra spending can get in the way of your dream home. Don’t make major purchases that could impact your credit score or wipe out your bank account.
Decide If You’re Buying New Or Used
Older homes can sometimes be more affordable, but newer homes come with all the best benefits! With a new home from GreenTech, you’ll have confidence that your home will need little maintenance and virtually no repairs in the near future. We hand-select top quality building materials and maintain high standards for our craftsmanship. This reliability saves you a fortune over time.
Our new homes are built with the latest housing trends in mind. Remodeling and upgrading your home won’t be necessary for several years. Once you’re moved in, all you have to do is add a personal touch. We even include advanced technology for a smart home experience that impresses!
New homes are also more energy-efficient. Well-sealed and insulated systems mean less energy waste. Top-notch HVAC equipment and low-flow appliances mean you’ll have lower monthly expenses. These are all details that an old home misses the mark on.
Shop Around For Lenders
When getting a home loan, many people go with the first lender that pre-approves them. This isn’t always your best bet. Mortgage lenders offer different incentives, lower closing costs, a better interest rate and more. Always take time to meet with others and see which company is most beneficial for your budget. Here are some tips on how to shop for a mortgage.
Declutter And Pack
Start packing way before you settle on a dream home and close. Start with your least occupied spaces and low-traffic areas, like guest rooms, formal dining rooms and formal living rooms. Declutter closets and drawers that you’ve been avoiding for years. Don’t be afraid to throw out or donate items you haven’t used in 1 year or more.
Packing and moving is hard, but buying a beautiful new home can be easy. GreenTech Homes has quick move-ins ready for your family in 2021. Connect with our team and we’ll make your home buying experience easy!