3 tips that women should know before buying a home
Since we were young girls, many of us fantasized about our dream homes with the wrap-around porch, spacious kitchen and master bathroom complete with the most relaxing tub and shower combination. I’ve spent the last 16 years working as a custom home builder and it’s thrilling to watch those dreams become a reality.
A recent study found that women are now more likely to own a home than they were three decades ago. The homeownership rate among women increased from about 50% to about 61% between 1990 and 2019 — showing that we’ve come a long way since we were first permitted to open bank accounts in the 1960s.
As we recently honored Women’s History Month and continue progressing as homebuyers, I’m sharing three tips to consider before investing in a home to help you find a space you’ll love.
Make a checklist of priorities
Whether you’re planning to purchase a resale house or customize your own home, the first thing I recommend thinking about is why. What are the reasons behind your big move?
It’s so important to write down why you’re buying this home and what goals you’ll achieve with your new investment. Whenever I’m working with clients, I always encourage them to think about their priorities.
Do you have children? If so, it’s important to think about school zones and the ideal location for you and your family. Maybe you want something close to your work office — with current fuel prices on the rise and commuting may not be an option.
Perhaps you want to be close to friends or your favorite coffee shop and gym. Whatever the case may be, it’s important to choose a location best fits your lifestyle.
Shop around
Now let’s talk budget. Once you’ve got one in place, you can search out mortgage lenders and find the right loan for you.
The internet is your best friend in this stage of homebuying, as you can start looking into the price range of homes and know what to expect. Sites like Bankrate and Investopedia are also great resources that can provide you with everything you should know about loans and current mortgage rates.
If you’re buying a resale home, I recommend sticking to a tight budget and avoiding overspending on the initial home purchase. It’s not uncommon for unexpected expenses to arise, and it helps to have sufficient savings tucked away for any maintenance work.
Trust your intuition
It’s easy to rely on others’ voices when looking for your next home, and I’ve often seen buyers go with what their friend likes or what their realtor tells them to do.
While it’s important to listen to outside feedback, it’s also crucial to trust your intuition and make decisions based on what will make you the happiest. If you find yourself in a similar scenario where your decisions are clouded by others’ opinions, I always advise going with your gut feeling.
It’s also crucial to visualize yourself in your new home and go with what works best for you. This visualization is especially important during the decorating phase.
Trends come and go; however, your selections will feel timeless for years if you’re happy with your choices. I founded Dalamar Homes with this top of mind, recognizing the importance of incorporating each homebuyers’ unique desires and preferences within the home’s design.
If you need a little help making your home perfectly yours, I would recommend viewing these 15 designer tips for picking a perfect color palette.
If homeownership is something you’re aspiring for but have yet to pursue, I hope you find comfort in the fact that you’re not alone on the journey, and that we are continuously making new statistics together.
At Dalamar Homes, we integrate your needs, desires, wants and wishes to create a forever home that you will love, and I enjoy working alongside my customers to help them achieve their homeownership goals.
Dayla Martin is the founder of Dalamar Homes, a female-owned custom home builder in Middle Tennessee. Pioneers in the industry, Dalamar’s innovative custom-home building process offers affordable solutions for families and individuals looking to invest in a custom home. Learn more at dalamarhomes.com/.