FIRST HOME: Deciding to build or buy

Wednesday, June 3, 2015


Kyle and I are really excited for another chapter to add to our book of life with in our biggest year of our lives. We are very blessed to have the opportunity to build our first home and planting our roots in Northwest Arkansas.

We would have to admit we love investing and planning for our future. It was logically sound to get away from renting and purchase a home. We did not think when conversations first started that  we would be building.



Some major objectives that we thought about prior to making a decision to begin shopping in the market are as follows.

1.       What neighborhood/ Town do we like most?

2.       What are our requirements or must haves for a home?

3.       What is our budget?

4.       How much do we need to save before we can start shopping?

5.       How long do we plan on staying in the house? (In our area, due to Walmart Headquarters we could get relocated, which Kyle’s boss gave his blessings on staying here for a while. Another reason is starting our family and will we have enough room.)

6.       When do we want to move?
 
I highly recommend thinking about these questions as you start considering shopping for your first home. Once we answered all of those questions, with the biggest factor of when our lease will end on our current house, we began shopping around. Our absolute favorite thing in the process was Zillow! Zillow is an app that syncs with your GPS on your phone or tablet and shows houses where you are located with the price, information on the house, ratings on features of the neighborhood, and school zones. You can also search by zip code, name of neighborhood or town, and even drawing a map and it will show you houses for sale. We would take random drives around the area and when we found a neighborhood we liked we would pull up Zillow on your phones and see what houses have sold for and what is for sale to see if the house is even in our price range.

After spending countless hours looking at houses, we kept coming to the same conclusion on every house that was in our budget. It was good but it needed work to be exactly what we wanted. Which DIY projects can be delayed due to procrastination, money, resources, and it isn't included in the mortgage. We ended up going back to the first neighborhood we visited our first weekend in Arkansas, which is newly constructed and had plenty of open lots available. We got to pick everything exactly how we wanted, everything is new so it reduces the need to have repairs, and it offered features that existing homes do not. The most important part of our decision was it had everything we wanted and under budget.

Check out my video where I dish on the details of the process!!


 

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