Navigating the Real Estate Maze: Buyer's Edition

By Ressie Krabacher

As a local resident and top performing REALTOR® in Chicago, Ressie Krabacher is relentlessly focused on helping her clients move forward. She serves as an advocate and advisor for buying or selling, overseeing relocation, or adding home ownership to their financial goals.

Have you ever been on a buyer tour and found yourself wondering about crucial factors to consider when purchasing a property? Well, you’re not alone. In a recent tour, I noticed a recurring theme in conversations with buyers, and I’m here to share these insights with you to make your home-buying journey smoother. Let’s dive into the top three considerations:

1. Price and affordability. One of the first things to keep in mind is to avoid “sticker shock” when looking at property prices. It’s essential to understand the numbers thoroughly. Calculate what the monthly payments will look like and whether they align with your budget. Remember that factors like property taxes and HOA fees can affect your monthly expenses significantly. A lower-priced property might have higher HOA fees or property taxes, making your monthly payments similar to a higher-priced home. Knowing your financial boundaries is crucial.

2. Location, location, location. The second vital factor is the property’s location. Does it fit your lifestyle and daily needs? Consider the commute to work, the quality of nearby schools, proximity to family, and any other specific priorities you may have. Your chosen location should cater to your unique requirements and daily routines. If affordability is a top priority over location, it might open up different possibilities for you.

3. Property condition and personalization. Lastly, think about the condition of the property. If you love the location and the price aligns with your budget, don’t forget to evaluate the property’s condition. You can gradually make improvements and personalize it over time to add value. Renovations and upgrades can turn a house into your dream home, so don’t overlook the potential for improvement.

The journey of buying a home involves multiple considerations. Price, location, and property condition all play crucial roles in your decision-making process. Remember that finding the right balance between these factors is key to making an informed choice. If you have any questions or need guidance on your home-buying journey, I’m here to assist you. Feel free to reach out, and let’s navigate this journey together!