What types of homes would suit me?
You will need to determine what your real needs are (must haves) as opposed to what would be nice to have. For example:
- Are you a dedicated bachelor looking for a one bedroom condo or someone who wants to emulate “The Waltons family” and needs a McMansion?
- Do you want a garden or are you in love with the concept of concrete?
- Are you interested in a condo in party central Belltown or a Townhouse in a quiet suburbia in Magnolia?
- Brand new construction in Bothell or a 1920′s Wallingford Craftsman home?
- Do you want to live close to work or not be reminded of it on the weekends?
Apart from which type of home, neighborhood etc, you should also consider whether are willing to consider foreclosure properties, that is short sales and bank owned homes (aka REOs). Ask your real estate agent to explain the differences involved in buying these properties, particularly in relation to the time required to close the transaction and potentially how long it can take to get a response from the seller (the lender) to an offer on the property.
Set aside some quiet time to think about the home that you will live in day in, day out for potentially many years to come. Obviously, your choices will be determined by the amount you can borrow.
