Strategic Propery Group
Home About Blog
01/25/20195 Things to Consider When Buying a Home

Your house will probably be the most expensive thing you buy, so it makes sense to think this decision through. There are many aspects to take into consideration, but it all boils down to some simple things: needs, budget, fulfilling dreams, and the state of the market. Let’s make an inventory of the top five critical aspects when buying a home.


It’s vital that you can afford the mortgage for the home you are buying to avoid financial stress or even bankruptcy. Keep in mind that this is a lifetime commitment and there will be highs and lows in your professional life. You, most likely together with your partner, need to be able to cover the monthly rate even if one of you is unemployed or taking time off from work to raise the children. Check your credit scores and estimate the down payment. About 20% is minimum, but if you have more, it translates to a lower rate. Living within your means is the way to be happy.


It might be tempting to get a bigger home, just in case your family expands. Think that every additional space means more money to maintain, and higher utility bills. Don’t underestimate the versatility of condos. Do you really need a backyard or is it just a nice to have? How far away are you from the workplace of you and your partner? What kind of transportation is available?

The neighborhood

Instead of a bigger place, try looking for a better environment. Think about the future regarding available education, recreational facilities, good shopping places. Before you decide to buy a home, take a walk around the neighborhood at various hours of the day to assess safety, friendliness, and amenities. Checking official crime rates reports is not far-fetched, it is only evaluating the investment.
Keep in mind that this is the place where your kids will grow up.

Comparative Market Analysis

Before signing any documents with the seller, be sure you are making the best deal. You or your real-estate agent should perform an in-depth analysis of the prices for similar homes in the neighborhood you have chosen. Also, you should take into consideration the state of the actual property you are considering, including a home inspection. The condition of the home appliances also influences the final
price as these can set you back with a couple of thousands of dollars.

Work with a realtor

Time is money. If you feel overwhelmed just looking for the right place, imagine how difficult it will be when you narrow down the list. An agent can offer you valuable insights about the area, possible problems, and even clauses you should include in the final contract. It also saves you much time by representing you in all matters related to the transaction, so you don’t have to take time off from your job.


1997 Annapolis Exchange Parkway
Suite 500
Phone: 443-623-8152 (Cell)
Phone: 410-972-4000 (Office)
Annapolis, MD 21401