Residential

How to Turn Your Dream Home Into a Reality

Buying a property in Louisville is one of the most exciting investments you will ever make. Still, it is not without risk. That doesn’t mean you shouldn’t pursue your dream home.

Photo of a Louisville dream home

Could a house like this be your Louisville dream home? | Photo: Tre Pryor

To start, be prudent. Do your homework first. Then you’ll understand that purchasing a property is a long-term investment. This means it also has its ups and downs and each of these needs to be weighed. It is not advisable to rush the process of purchasing a property. Advice to first-time home buyers is fairly straight-forward.

What to Consider Before Buying

It’s definitely OK to want a dream home. This is a big investment you will be making. This is why every property buyer should first write out a ‘wish list.’ Such a list should include all the non-negotiables, as well as, nice-to-haves.

Assess your property needs and your finances before drawing up your list. Some things you might ask yourself include:

  • What type of home am I looking to buy?
  • Which area do I want to live in and why?
  • What is the monthly payment that we are comfortable with?

Other influences also come into play: such as what property to buy, mortgage rates, selecting the right buyers’ agent and setting aside money for after the move-in.

Then, as with all property, a key factor as the Realtors’ always say, “location, location, location.” Picking the right Louisville neighborhood is an essential. Buying a mansion in the wrong spot could end up being a catastrophe, even with the right home insurance and mortgage rates.

Besides buying the actual physical property, there are other factors to consider. A home can have hidden costs, such as municipal rates and levies. A property buyer will need to learn how rates work and how they would affect payments should an increase occur.

Finding Good Coverage

At the same time, you should also contemplate the cost of protecting a new home. Sufficient insurance has been called the bricks and mortar of property management. A good policy will protect you against unforeseen damage to your home, garage, shed and accompanying structures. No home is immune to the unexpected.

Making Your House a Dream Home

When you have these variables nailed down, it’s still important to remember that no house is completely perfect.  In your search for a dream home, remember we live in an imperfect world. As long as all the non-negotiables are checked on your list, you can still tweak and do some work on your house after purchase to transform it into a place you can proudly call home.

About the author

Tre Pryor, Editor-in-Chief

Tre Pryor is the recognized expert Louisville Realtor who can:
  • List and sell your current home in Louisville,
  • Help you purchase your next Louisville home, or
  • Guide you in your relocation to Louisville, Kentucky
» Contact Tre now!