6 First-Time Homebuyer Tips
July 14, 2016
As we are in the midst of summer, this is a hot time for house hunting especially for first time home buyers:
1. Know your budget, and stick to it.
Since buying a home is such a large purchase for first time home buyers, you need to be realistic about what you can and cannot afford. Talk to a lender and get pre-approved for a loan so you know your max price point. Don’t look at homes outside of your price range.
2. Create a wish list
By creating a wish list, this helps first time home buyers prioritize what they really want in a house and what they don’t. One way to do this is to separate your list into “want” and “need” and see what you truly need in your first home and what you can live without.
3. Don’t Settle, but be willing to compromise.
Likely, you will need to compromise on something: finishes, floor plan, location, yard space, etc. Prioritize what is most important to you in a new home and make sure you choose a home that you and your family can enjoy long-term.
4. Consider life after buying your fist home
When buying your home, you have to think about long term. Sometimes first time homebuyers only consider the monthly mortgage payments but they need to keep in mind all of the “extras” such as possible HOA fees, maintenance, repairs and unexpected disasters.
5. Survey your surroundings
While looking at homes, you need to consider what is around the home and the location. Look at some of the following factors when buying:
• Who are your neighbors?
• Is it close to schools and restaurants?
• How close are you to work?
6. Ask A LOT of questions
The most important thing you can do when buying a home is to ask questions. Buying a home is usually the first significantly large purchase a first time home buyer has made, so don’t be afraid to ask all the questions you need.
This post was written by Sandcastle Homes