You’ve been saving for a while now, and you finally have enough to buy your first home. Buying a house is an exciting time in one’s life, but it can also be stressful if you don’t know what to do. However, you can tackle this issue by following some tips at the athomeinthefuture website. First-time buyers often find themselves wondering, “where should I start?” And the answer is simple: with this blog post! We’re going to give you some tips on making your first purchase as smooth as possible.
Set a Budget
There is nothing more prominent than setting your budget. You need to know how much you can afford for your home. You can’t choose a home that’s beyond your budget. So, calculate all the costs and find out if the house you desire is worth the price. First-time home buyers often underestimate how much a house costs, so it’s crucial to know the market value before spending any money on things that are not necessary for the purchase. It’s always better to avoid taking up loans just because you think buying a house is expensive.
Understand You and Your Family’s Needs
The next thing you need to do is comprehend what you and your family need from home. Think of the fact that your kids will be growing there. Is the room big enough for your family? Are there enough bathrooms? Is the kitchen big and spacious for your daily needs? All of these are important, just like any other aspect, so don’t ignore them. You’ll also be grateful knowing that your house has a good quality water supply and electricity. So, it’d be better to check the quality of those aspects when you attend an open house.
Get a Pre-Approved Mortgage
This tip may also be helpful for you. Although it’s not necessary for certain conditions, most first home buyers always apply for a pre-approved mortgage. First, this will help you determine your budget for buying a home. Second, it let the seller know that you are ready to buy their house so they can consider selling their house right away at an agreed price. You also need to visit the bank and get pre-approved for a loan. To do so, make sure you have all the required documents from your employer, bank statements, and other financial records.
Hire a Professional Realtor
Next, if you think you need further help and more professional assistant to buy a home for the first time, you can hire an experienced realtor. A realtor will help you locate properties for sale, schedule property inspections, and negotiate the best deal on your behalf. On top of that, they will help you in avoiding common mistakes like offering too low or paying too much for a property and more. For these reasons, if you think hiring a professional realtor is the right choice, make sure to find one who has experience with the first time.
But, keep in mind to ask for the estimated cost. A professional realtor charges a commission for their service based on a percentage of the purchase price. It means that if you buy a house with, say, $100k, they will charge you around 0-$5000 as their fee from your profit. Thus, before hiring them, make sure to talk about all possible options and choose the most suitable one for you.
Check the Location and Neighborhood
Lastly, you need to check the surroundings. First of all, ask your realtor to show you the area and neighborhood where you want to buy a house. The more desirable location is, the higher the price for it (and of course, there are some exceptions). You may also need to check if children go to good schools in that district and if public transport connection is available or not. Aside from that, please consider the neighborhood. If you’ll buy a house, it means …