Buying your first house can be a daunting task because a lot of things would run through your mind just before you go into what may likely be the most important investment in your life. This article delves into 3 tips a first timer should hold on to when on the verge of acquiring his first house in other not to make mistakes their predecessors made in the past.
How do you know what is best when buying your first house; a good deal of passion and an ounce of common sense? Maybe it should be the other way around, but that is not what happens for most buyers. Many things influences the process of purchasing your first house or even your last . If you are looking to buy a home in the near future, consider these tips as a guide to making the right decision for YOU!
Whenever you are on the verge of making one of the biggest investment decisions of your entire life, advice will come flying at you from all and sundry. These advices will be dished out frequently before the ultimate buy and most often than not these advices do come unsolicited.
There is a ton of information available on the internet about the process of purchasing a home, and just what and how to go about the process. Location, size, style and other details you never thought about are explained, and the pros and cons will eventually become a blur. Sifting through everything that is written is a challenge and becomes more than a tad overwhelming to know what is important to you personally. It will seem like everyone that has ever lived in a home, or owns a home, wants to help in your decision making process. Advice and opinions are given out freely and a decent amount of the info is fueled with passion and another person’s life experiences. The most important thing to remember is that you need to buy a home that fits your needs and your wallet.
Buying a home is a serious, life changing event that will be part of your lifetime financial success. Preparing to buy a home should start early on in life before financial mistakes are made. Following professional advice about career path, job planning and the future can only help. When it is time to look for a house and you are ready the next step is to decide on what home will work for you. Once you have a budget in place, then consider these 3 tips on how to decide what home will work for you.
1. Bigger is NOT better
How much space do you really need, and how much space can you truly afford? You really have to think about the cost of maintaining a large home. When a home is bigger, everything costs more. Repairs, and renovations are something to consider. To replace a roof is a big expense, and the bigger the roof the higher the costs. So, while bigger might be what you want, consider what you actually will need and work from that concept. Knowing who will be living in the home ten years from the day you move in is worth thinking about
2. Mom & Dad Are Not Real Estate Agents
Many family members have bought houses before. They love to share their past experiences when buying a home. Do remember, that they most likely purchased a home in a different location or time period or price range. Their advice may not work for you today. The buying and selling of real estate is constantly changing and knowing the current market, local concerns, laws, and norms is what your real estate agent does best. Be sure to seek out the proper professionals all along the way to guide you in the process. While family is looking out to give you good advice it is bound to be either very general or very personal. Maybe even a wish list of what they knew about the home they bought. Make your home choices and decisions on what is right for you.
3. Check Out the Neighborhood
As the saying goes, Location location location!! This is a huge truth in the value of a property. When falling in love with a home, you will need to research out the neighborhood on your own. Many clients want to know who lives on the block, if the neighborhood has children, hooligans, infrastructure and the state of security. Walking around a neighborhood and driving around an area to familiarize you with the community is a great idea. An intending homeowner asks questions from neighbours to get full information about the neighbourhood.