Last week, we covered tips for first-time home buyers, focusing on the logistical considerations that help make the process smoother. Moving forward to the next set of tips, the most important decision you'll make is which home on Maui to buy. This is where experienced, long-term homeowners have learned important lessons over time. Here are some things to think about as you search for real estate.
1. Room to Grow - Consider how your life could change in the future, and who or what you may need to accommodate. For example, you could have a new baby, or a family member who moves in with you. You could have an ambition to start your own business that requires a workspace. It's easy to judge a home on how it would suit you now, and it may be tempting to do so, but a little foresight can save you a lot of complications in the future, especially if you want to have your home for a long time.
2. Plan for the Long Run - Speaking of owning your home for a long time, you may want to ask yourself questions about how it will age with you. Do you prefer a newer home, or something older with character? If you find yourself drawn to the latter, are you prepared to take care of the necessary upkeep, or perform renovations as needed in the future? A big, unique home may seem like too much fun to pass up at first, but be careful to consider whether it will require more work than you'll want to put in ten years down the line. Try to find a balance between giving yourself room to grow and being realistic about how much home you want to maintain. Find a happy middle ground!
3. Explore Both Old and New Homes - On the subject of newer vs older homes, there are still more considerations to be made. A new home doesn't have the wear and tear of an older home, but some of those older homes have already been renovated and fitted with upgrades that you might like. That's the plus side to previous owners, when they take good care of their property.
4. Home vs Condo - The differences between homes and condos are important, especially if you're particular about the kind of lifestyle you prefer. If you want a yard, garden, and your own landscaping, a home is generally the better choice. If you don't mind taking care of your own outdoor maintenance and you enjoy the freedom, space and privacy that you can have with a home, you have your answer. However, if you're not keen on outdoor space, prefer that the maintenance is in someone else's hands, and you're comfortable paying monthly fees for this, a condo may be right for you. Condos are also higher density, and some offer amenities like swimming pools, fitness centers and more. Think about how this decision can pave the way for the lifestyle of your choice in the future.
5. Location - You've probably heard it said that location matters more than any other factor in real estate, at least from an investor's standpoint. But this factor is also of huge importance when you're simply choosing where you want to live in the years to come. Do you prefer a rural, outdoorsy location where you have a nice, peaceful distance from any neighbors like can be found in Upcountry Maui real estate? Do you prefer a home that's at the center of things, near the conveniences of the nearest town like Central Maui? Do you have children in school? How near to their current and future schools do you prefer to be? On Maui, the location question plays an even more dramatic role than some other places. You'll find completely different environments all over the island, complete with their own unique weather patterns.
Of course, one of the most important choices you'll make in your Maui real estate search is who will assist you through the process. As a first-time home buyer, the right realtor is especially vital to your success. A professional eye for the complexities of the real estate market can save you from all sorts of complications, delays, and other difficulties. With that in mind, we're happy to offer you our expert assistance, if you need it. You'll find our contact information at the bottom of the page if you'd like to reach out to us. Mahalo!
Looking for more home buying tips? Check out : Tips for First-Time Maui Home Buyers Part 1
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