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Questions To Ask Yourself Before Buying Your Second Home

real estate agentUp to 32% of those looking to buy a house are first time home buyers. However, you’ve been there, done that. You know how a house functions, the maintenance that needs to go into it, and what it is you use and don’t use. That is to say, you know what would make your dream house the second time around.

However, even when buying a second house there’s more to consider than the countertops in the kitchen when you’re searching through listings for homes for sale. Here are the questions you need to ask yourself once you’ve begun searching for your new and improved dream home.

Do you want to rent out the house?
It may seem counterintuitive to want to rent out your own home. But if you don’t need the entire space and if the mortgage is a little high, you can make a great investment by renting out the property.

Of course, choosing to rent out your second home makes the location of the home incredibly important. You can make all the changes you need to a home including new bathrooms and new kitchens, but you can’t change the house’s location. Therefore, let your real estate agents know whether or not you plan to rent out the property in order to make the location the number one priority.

How much do you want to renovate?
Renovations are great for making a home uniquely your own, but they can also take quite a while. Let your real estate agents know where it is you stand on potential renovations in order to ensure that you’re shown homes that are within your maintenance specifications.

Older homes, for instance, may come with far more problems if you decide to take on a fixer-upper. Know where you stand and how much you’re willing to fix before you decide to start house hunting.

How are you with the details of the home?
When looking for a home for sale, it’s best to be in the know about what specific details the house can tell you. For instance, cracks that are in the walls may be fine and can be painted over. However, if you can press your little finger into the cracks, there’s most likely a foundation problem. Be sure to know the finer details of what may be a clue for future maintenance problems.

After your first home, you know what you want from your second one. However, ask yourself the necessary questions before you think of the stylistic qualities you want from your house. Then relay those answered questions onto your real estate agents to truly find your dream home.