step8

Step 8: Analyze Visited Homes

Your search for the perfect home may take you to a number of houses, some of which will interest you more than others. It is therefore important to track the features of each of these homes in a format that you can use for objective comparison. Your notes will help you remember details in the whirlwind of house viewing.

The very first step in the Home Buying process, as we have described earlier, is identification of your Requirement Analysis. Please refer to it if you have not already done so. During this step you should have identified features that:

1) You must absolutely have in a house,

2) Would be good to have and

3) You would want to have but are variable based on price.

For each real-estate property that you visit, identify the features it offers and fit them against your requirement analysis profile.

(NOTE: This example below illustrates how you can track all the homes you have visited and to identify those that meet your Requirement profile.)

Requirements House1 House2

Must Absolutely Have

Commute: To work less Than 50mins ..........20min............40mins

General Location: neighborhood ..................yes................yes

Nuisances: Not near any noise ......................no.................no

Traffic: Street Setting ....................................yes...............yes

House Condition: No immediate work ..........ok ...............ok

Price Range: $175,000 to $210,000 ..............180k.............210k

Size of House: About 1/2 acre ......................0.75acre.......0.6acre

Type of House: Contemporary or Colonial ...........Ranch..........Contemporary

Number of Bedrooms: 3 or more ..................3...................4

Number of baths: 2 of more ...........................1...................2

Would want to Have

Deck, Porch or Patio ...................................Deck...........no

Master Bedroom: Large size .......................no...............yes

Kitchen: Large (gourmet) ..............................no...............no

Back Yard: Private if possible ......................yes.............yes

Good to have

Hospital: Within 5 mins .................................no...............no

Appliances: W/Dryer,D'washer....................Washer......no

Basement: Finished .......................................no...............no

OTHER DETAILS & ANALYSIS

Worth Pursuing ..............................................may be......yes

Date 1st visit ..................................................6/10...........6/12

Date 2nd visit .................................................6/17...........6/17

Date 3rd visit ..................................................

Address ..........................................................12 Adam...5 Simon Rd

Town/city .......................................................Denver......Littleton

REMARKS

House1: Good neighborhood, park nearby, will have to put another bath.

House2: Great house, pursue further, eager to sell.

House3:...

NOTE: The intent of this description is to illustrate some of the options you have. Your analysis will vary based upon your requirements.

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