Top Strategies for Homeowners to Buy Better

The declining median prices for new homes and home renovation spending have encouraged buying better and renovating smarter. This may be the perfect moment to either remodel your house or apartment or explore the housing market in search of a perfect property.

That is why, in this article, we’ll offer top strategies for homeowners to buy better and renovate smarter. From doing your own research to consulting professionals, we’ll cover all the phases of homebuying, renovation, and remodeling. Let’s jump right into it!

3 Expert Tips for Buying Better Homes

Buying a property is an exciting adventure, but it can also be rather time and energy-consuming. That’s especially the case if you’re a first-time home buyer, unaware of all the details this endeavor will entail.

That is why we’ll break down the homebuying process into a three-step guide, which will help you choose the right property for yourself.

#1. Conduct Thorough Market Research

After you’ve decided to buy a house or an apartment, the first thing you need to do is conduct thorough market research. Scout the options and think about your priorities and requirements—do you want a condo with an open space or a family home with a backyard? Answer this question to narrow down your search.

According to the U.S. Census Bureau’s most recent data, the median size of a new single-family home is 2,286 square feet. Meanwhile, the median size of multi-family units for sale is 1,345 square feet.

As you can see, the difference is significant, which is why you need to specify your demands before you begin your market research, and this brings us to location.

Before you make an offer, consider the proximity of your prospective new home to your workplace or school, as well as essential and recreational services, such as shopping areas, greenspaces, and commuter buses or trains.

#2. Understand the Financial Aspects

Before you proceed, you need to understand the financial aspects of such a significant investment, like buying a new home. Start by evaluating your financial stability, from your annual salary to the money you’ve saved for a down payment.

Next, check your credit score and debt-to-income ratio (DTI), as lenders will use these to determine your mortgage interest rate. For a conventional mortgage, you’ll need a credit score of at least 620, although some lenders may set their minimum credit score requirements higher.

Additionally, according to the Federal Housing Administration (FHA), the DTI ratio shouldn’t exceed 43%.

Keep in mind that your mortgage shouldn’t exceed 28% of your gross monthly earnings and that your total debt payments should be at most 36% of your monthly income.

Finally, when setting your budget, consider the immovables you already own. If you have unused land, you can sell it online for cash without fees or realtor commissions and put the money in the bank for your new home purchase.

#3. Consult Professionals

To get your money’s worth and buy a home you’ll be happy with, you should consider consulting a professional who understands the intricacies of real estate. They can help you navigate the market, negotiate with sellers, and ultimately find a property that meets your requirements and stays within your budget.

You can find a real estate agent through friends and colleagues or scout a few agencies and interview the ones you like best.

When you make your choice, you’ll likely be asked to sign a buyer’s agency agreement, according to which you agree to work exclusively with your chosen agent for a certain period of time. They’re typically paid on commission from the sale, so you won’t have to pay anything upfront.

Your real estate agent (or realtor) will act as a mediator between you and the sellers, communicating with them regarding your requirements and their prices. It’s noteworthy that your realtor should be someone you match with, both personally and professionally—you need to have open communication with them and trust them.

3 Strategies for Homeowners on How to Renovate Smarter

If you already have a property but not your dream home, you can consider renovation and remodeling. The end goal should be to enhance the comfort, functionality, and aesthetics of your house or apartment.

Home renovation can be a fun project, but it requires careful planning and dedication to be a successful one—that’s why we’ll simplify it and highlight the three points of the smart renovation process.

#1. Plan Your Budget

Despite the declining median home renovation spending, you need to plan your budget before you begin renovating your home. Imagine having done two rooms and realizing you have no money left for the rest of the space.

It’s easy to burn through your savings when you start a home renovation. Last-minute upgrades and unexpected repairs can easily increase the remodeling bill, which is why you need to be thorough.

Research the prices of materials, furniture, and home remodeling services. Speaking of which, you may want to consult your local professionals to help you set a realistic budget that fulfills both your financial requirements and your dream home vision.

Once you decide on your budget, ensure that you stick to it. You may be tempted to reconsider your original decision during the process, but refrain from looking into materials and appliances that exceed your budget.

#2. DIY vs. Hiring Professionals

Now that you’ve set your budget and chosen the desired look for your new home, you need to decide between DIY and hiring professionals. If you’re handy or have some work experience renovating and remodeling, you may want to opt for the DIY approach.

However, consider all the aspects and factors of your project and determine whether you have all the skills needed to finish it yourself. If so, you can make it into an exciting activity for yourself and your friends/family.

On the other hand, you can leave the renovation to the professionals and make it your job to choose the right one. Do your research, check online reviews, get recommendations, and interview potential candidates to ensure you have the right person to take on the project.

Moreover, make sure to keep in touch with your contractor during the project so that there are no misunderstandings regarding your budget, style, or deadline.

#3. Consider Sustainable Renovations

Although your project may be about comfort and aesthetics, you shouldn’t disregard the functionality factor. Sustainable renovations are the key to a functional home with excellent ROI potential.

Thanks to their durability and usefulness, they pay off in the long run, which means you can enjoy your new home for a long time and get a good offer if you decide to sell it.

The first segment of a sustainable renovation is energy efficiency. Consider renewable energy solutions, such as solar, as they’re more reliable, secure, and cost-efficient.

Next, keep in mind the health aspects of your renovation, focusing on air and light quality and moisture management. Low Volatile Organic Compounds (VOC) materials are widely available so that you can avoid the toxic fumes of paint and other building products.

The final aspect of a sustainable renovation is resilience. Use durable materials for insulation, water pipes, and hazard-prevention structures, such as flood barriers.

Conclusion

Whether you want to buy or renovate, there are certain strategies for homeowners to buy better and renovate smarter that you should apply to make sure everything goes smoothly.

The financial aspect is crucial, so remember to set a realistic budget for your home purchase or renovation. Next, consult the professionals in your area, interview them, and choose the right person for the job. Lastly, do your research to decide on the best style, materials, and, in the case of buying, location.

The end result should be a functional and comfortable home with a unique aesthetic appeal that reflects your style and personality.

Top Strategies for Homeowners to Buy Better and Renovate Smarter was last modified: July 4th, 2025 by Billy Guteng

Written by Billy Guteng. August 12, 2024

Billy is a content writer for Kukun. He was born in France, and has lived in multiple cities around the world ever since. He loves art, design and architecture as well as construction and real estate.