Tips for First-Time Home Buyers!

You have decided that you’re ready to buy your first home, but you’re not really sure where to begin. It’s always good to take any advice on buying a home so that you’re not going in empty-handed. Hopefully, these tips will help you and your family out when looking at your first home.

•         Consider what type of home suits you and your family. Are you going to be looking for a single-family home, townhouse, condo, or a multi-family building? This is going to be one of the most important factors for when you start looking for a home.
•        How much home can you afford? I know this may sound a bit odd since you’re looking at purchasing a house, but a bank will sometimes give you a loan for more than you can afford. By doing this you don’t realize that you’re already making it to where you can’t afford the total cost of the house. Make sure to look at the total cost of the house besides the monthly payments. Don’t get me wrong, the monthly payments are a big factor, but you want to make sure that you can afford the house as a whole.
•         What specific features do you want in your new home? The type of neighborhood, house size, room layout, and kitchen appliances are all key when looking at a home.
•         How much mortgage do you qualify for? It’s good to double check how much you qualify for before looking at a home; so, that way you’re not looking at a $500,000 home when you can only afford $300,000.
•         Make sure to use a real estate agent. They can help you with procedures, tips, and even locating the house best suited to your wants and needs.
•        Think long-term when looking at a house. Are you going to be starting a family down the road? Are you planning on having older relatives live with you? Also, think on if you’ll be able to re-sell it down the road if you want to. If you’re in a bad neighborhood or just in a poor location selling your home will be a bit difficult.
•         Make a checklist of things that you’re going to want in your home. This goes back to what specific features do you want. If you go to a house that has a really nice view, but doesn’t match any of the features that you’re wanting it’s probably not going to suit what you’re looking for.
•         Read over your contract before signing and ask for the HOA (homeowner’s association) contract before signing as well. Make sure to read everything and that you understand what you’re agreeing to.
•         Look past the staging of the home. You’ll want to make sure the home will suit what you’re going to want to do with it when you move in. If you find that a room doesn’t have enough outlets you may find that you’ll have to do a bit of remodeling that you don’t need to do if another home suits your tastes.

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