Somewhere out there is the lake home or cabin of your dreams. You just have to find it.
We admit that in today’s market, the majority of homebuyers and sellers tend to focus on single-family homes. But condos and townhomes can also be a great fit for your family in the short-term or for the long haul.
Home type is important. Consider the difference of each space, and how they would work for you now versus in the next 10 years.
Think about your location priorities: What’s important to one homebuyer can be completely different from the next.
Home features are important, too! Narrow amenity options down by considering what you have now, and how you’d like to see that change.
When deciding what type of home is best for you, here are some questions to consider:
Do you want full control over updating the space? If you plan to knock down walls to create an open floor plan, or if you love to landscape, you might consider a single-family home. Condos and townhomes are usually managed by a homeowners’ association, or HOA, that could limit or regulate your interior and exterior modifications.
Is convenience a large factor in your decision? Although a condo or townhome can be regulated by an HOA, that’s not necessarily a negative thing. In addition to regulating the space, an HOA may provide amenities such as a pool, workout facility, security patrols or lawn service.
Location: How to decide on a city or neighborhood
Some people prefer to vacation in a relaxing lake cabin, while others want space in the north woods.
Think about what matters most to you, and the type of life you want to live. Rank the list of above criteria in terms of importance, then be sure to follow that list as you consider different areas to live. Remember: While your goal may be to find a home that checks every box off your list, you may have to narrow down must-have items versus nice-to-have amenities.
Home features: Certain features are must-haves for buyers
Just as some location criteria are important to certain buyers, home features can be just as important to others. Do you want the ease of walking into a turnkey home that doesn’t need any new appliances or updates? Or are you excited by the potential of purchasing a fixer-upper that could require months (or even years) of renovations?
Be sure to think about the key features that you’d like to see in your home-to-be, including:
- Number of bedrooms or bathrooms
- Status of appliances, possibly with warranties
- Wallpaper or paint
- Flooring: Hardwood, carpet or tile
- Washer and dryer in a dedicated laundry space