Questions to Ask Yourself Before Attending an Open House

1) How long do you plan to live in this next home (and also how long will you own this home if you plan on renting it out after you move out)?

This is THE absolute most important question to answer honestly since it will affect the rest of your home-buying search. You must answer this question first before you continue to the others.

2) What will your life look like during that timeframe? 

Answering this question will help you determine what purpose your home will serve, most specifically your needs and wants at that stage of your life. Plus, you’ll determine what your #1 driver (or reason) for buying an acreage home now and for the time period you want to own the home.

3) What about your current daily life do you love and are not willing to give up?

For example, do you love having a short commute to work? Do you love stopping by your local coffee house often and enjoy local conveniences? Do you like to go for runs outside or hit the gym instead? What is your actual day-to-day that you don’t want to sacrifice if you can?

4) Do you and your family spend a lot of time at home or more of a “go out and attend events” type?

Knowing the answer to this question will help you determine how much space you need. If you hardly have people over, then why have a huge space for that dining table you don’t really use? But, if you’d rather cook dinner and invite friends over, then don’t give up your dream of having space to entertain and make this desire a reality. 

5) What are your personal and financial goals during the timeframe you are going to be living in this new home? 

For example, do you plan to change jobs at some point so that your finances may change – a possible increase or decrease in salary? You don’t want to have a mortgage that binds you to your current job, especially if your goal is to switch to a less stressful work life while living there.

6) What are your hobbies and how will they impact your life while you live in this home? 

Confused? For example, would you prefer to live in a less expensive, possibly smaller home so you have the funds to travel the world or even for a favorite hobby… (think scuba diving, travel photography, etc.)?

Or, do you want to live close to an important outside interest (think horseback riding, sailing, ballroom dancing, etc.)? Or, do you want space for your hobbies (think painting with canvases and easel, crafting supplies, or refurbishing antiquing finds, etc.)?

7) Do you consider yourself a “location person” or a “house person”?

SO important! Some people get more excited about the local amenities than the features of their home. Usually people tend to be more one than the other. Which are you? What do you tend to gravitate toward?

For example, would you rather be within minutes to the grocery stores, certain schools, or maybe the view from the home? Then location could be more important to you. If so, many locations have distinct personalities and you want to find one that works for you.

On the other hand, if having lots of inside space, an awesome chef’s kitchen, and a great floor plan to display your favorite artwork gets you all excited rather than any particular neighborhood, than you are more of a house person.

8) Are schools in the neighborhood a factor for this acreage home purchase?

Even if you don’t plan to have children soon, it’s a question worth asking since homes in better school districts tend to appreciate more in value. If you have young children or plan to start a family in the near future, then getting yourself educated about schools will be important. Just remember that your agent can’t recommend school districts due to Fair Housing Laws. You’ll need to do your own research and get feedback from friends and family.

9) What about your current home that you would like to change or be different in your next home? 

What bothers you every single day about your current home? For example, it could be the lack of closet space or not enough counter space in the kitchen. On the flip side, what is the absolute most important, can’t-live-without it, deal breaker thing you MUST have? (We all have at least one.) Do you really, really want that master bedroom suite or that large open kitchen?

10) Describe your ideal scenario when it comes to your acreage home purchase and why. 

This is the time to dream BIG! After asking yourself all the questions above, now is the time to take your brainstorming to pen and paper. Get out a piece of paper and write down everything you could possibly have if you could have it all (within reason) in your next perfect home with land. Don’t hold back! Write down things you might think are out of reach. 

11) What would you be willing to compromise on in an acreage home?  

It’s hard to start with what you are willing to give up, but after listing out all the things you DO want from the questions above (and don’t hold back on this part – list everything!) Circle three things you could possibly live without on that list. 

Congrats on answering all of these questions and hopefully it sparked some additional self-analysis that will help you find that perfect acreage home! Next week, we’ll take a closer look at whether you are a “location” person or a “house” person. It’s your leading compass on where and what you will look at when you start house hunting.