Finding the perfect home can be difficult when there are many different types of homes to choose from. This infographic from Citizens Bank will take you through what to look for in a home and will guide you through the home buying process to help make things simpler. Begin with the style of the home. Is there a specific design that appeals to you? Do you need space to accommodate a family, or just enough space for you? Check out the most common home styles in United States to see what matches your taste and personality.
As you develop an idea of the home style you want, you should also be thinking about the location of your new home. Do you need to relocate for work or family, or are you just trying to find something new? When you’re deciding where to live, be sure to factor in the weather, medical care, population size, quality of the school district and cost of living.
In addition to cost of living, it’s important to look at your finances and determine how much home you can afford. Making a 20% down payment is generally expected and it can help lower your costs by avoiding private mortgage insurance or taking out a tandem loan. Use a mortgage calculator to help you determine how much you can afford, how much you need to save and what size mortgage you can effectively carry. Then speak to a home loan advisor to learn more about the mortgage process and what your borrowing options are.