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8 Must-Haves That Are Limiting Your Home Search

As a first-time homebuyer, you may find the home search process isn’t everything you hoped and dreamed. It’s not as simple as finding three houses and picking the best one, as HGTV’s “House Hunters” may lead you to believe.

Are you finding your searches leave you with very few options? Are you frustrated with the lack of listings coming on the market? Armed with a better understanding of how your local multiple list service works, as well as taking a hard look at your “must-have” list, you may find there are more options out there than you thought. Here are eight things you should consider to expand your home search.

[See: The Best Apps for House Hunting.]

Location, location, location. While location is often referred to as the most important aspect of real estate, an overly specific search area may be more detrimental than helpful.

Many people choose a central location, such as their work or a school, and set a specific radius based on commute time. While this makes sense, be conservative and add 20 percent to your initial mileage. You may be able to change your route or timing to make up for the additional distance. Or, you could find the dream home you’ve been searching for that makes the extra drive worth coming home to.

As with all topics discussed throughout this post, here’s a strategy if you’re really hung up on a certain search parameter — create multiple searches. If there is a specific neighborhood in which you would love to live, create a search just for that area, then develop another for a larger radius to leave no stone unturned.

Home size. Using square footage as one of your key parameters can often leave you dazed and confused. Home size is usually broken down by living area and basement area. Living area is defined as anything above grade, or above ground. Conversely, the basement is anything below grade.

Unfortunately, not all home search apps clearly specify whether they are using just living area or total square footage (both living and basement area combined). For the real breakdown, you’ll need to refer to the tax record.

While condos are fairly simple to figure out, the most confusion will often arise in single-family and town houses. For example, many recently built town houses have you enter in the basement, then go up a flight of stairs to the main level with the kitchen and living area, then proceed to the third floor where the bedrooms are located.

Though all three floors are above grade, only the two top levels may be calculated as living area, and the lower level will be basement, or it could all be measured as living area. It can be a guessing game based on who updates the tax record. Always carefully examine the tax record when figuring total square footage.

Town house type. In the market for a town house? If so, be aware there are many different types and selecting just one in your real estate agent’s MLS search could seriously narrow your results.

For example: You will find many MLS lists include town houses, back-to-back, row houses, duplexes, semi-detached and more. Get to know the different types by previewing examples in person before selecting the ones you incorporate.

[See: Weird Home Features That May Confuse Homebuyers.]

House style. Apart from how the home relates to others nearby, there is a plethora of architectural styles including colonial, ranch, split-level, split-foyer, Cape Cod and the list goes on.

With so many options, it’s best to delete only the ones you refuse to live in and base your search on any you would at least consider. Remember, most MLS platforms allow your real estate agent to set up a search that not only includes all options you require, but negates the ones you don’t.

Age. After seeing your parents’ house fall apart over the years, it can be understandable why you only want a house built after 2010 — they require less big-ticket improvements in the foreseeable future, are more energy efficient and have a modern layout.

That said, there are many responsible home owners who have taken the time and invested the money to properly update and upgrade their older homes.

Similar to the advice given regarding location, if you are dead set on purchasing a home built in a specific time period, add 10 to 15 years to allow for outliers that may have been brought up to today’s standards through improvements made by the owner.

Not-so picture perfect. Real estate photography is most effective when it captures and accentuates the most alluring aspects of the property.

The photos you find in the MLS cover all parts of the spectrum — from the listing agent who went around with their iPhone and made sure to take a selfie in every bathroom mirror, to the professional photographer who used the super-fisheye lens to make the 500-square-foot condo look like a mini mansion.

As you peruse listings, take all pictures with a grain of salt.

When dealing with a smaller list of potential homes, your agent will appreciate your willingness to not judge a book by its cover, and schedule an appointment to view the house in person. While looking for the perfect home, remember pictures are never perfect and are all a matter of perspective. The only true perspective is when you are the one standing inside the house.

Type of sale. By now, you’re likely familiar with the difference between foreclosures, short sales and a standard sale. Even so, take the time to discuss them with your agent so you can fully understand the process they entail to decide if they are a good fit.

Many times, people are so afraid of short sales and foreclosures from the horror stories they’ve heard, they neglect the positive stories where people walk into instant equity with little hassle.

[See: 8 Types of Roads That Can Have a Big Impact on Home Sales.]

Basement type. While you may have your heart set on a finished basement with a playroom for the kids, office for you and your spouse and a great bar area for entertaining, is that all really worth the price tag that comes along with it?

Sure, the idea that you won’t need to sink time and cash into major renovations and instead wrap it into your mortgage makes sense. But limiting your parameters to finished basements doesn’t allow you to maximize your search potential.

While the house with the finished basement may be located in a good neighborhood, you may be able to find a larger house with an unfinished basement in a great neighborhood for the same price. When the time comes to finish it, not only will you be in a more desirable area producing a higher return on investment, but you’ll be able to design the basement exactly the way you want.

More from U.S. News

Current Design Trends That Will Date Your Home

How to Move to Your New Home for Under $500

10 Ways Millennials Are Changing Homebuying

8 Must-Haves That Are Limiting Your Home Search originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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