When buying your first home, it's really easy to get caught up in the dreams and fantasy's that you've had since you were a kid. Houses are emotional purchases just as they are practical decisions, but often times the emotions win out. Be prepared for the highs and lows of house shopping in order to keep focused on the end goal.
Before you fall in love with a house that's out of your league, find out how much house you can actually afford. Do some research on lenders, ask friends and check out the interest rates until you find a lender who suits your needs. They should be able to answer questions and help you find the type of loan best for you. Pay attention to additional fees and ask if you don't understand.
Now that you have an idea about how much money you can spend, it's time to figure out the general aren in which you want to live. A real estate agent can help you search by finding houses in and around the ideal places and by staying on budget. They are like a relationship match maker and will be able to show you other zip codes and homes which will suit you.
Before you can find the perfect house, you need to know what that is. Make a list of necessities, along with a list of wants. The key to this being successful means the list of wants is something you're willing to go without as long as the list of necessities is met. For instance, can you live in a two bedroom one bath home if it has a large yard, or do you need the second bathroom?
When making an offer, it's important to come in at a reasonable price for the area and the circumstances. An agent will be able to help you with these decisions as they already know the comparables. Inform yourself by researching homes which have already sold in the area you are looking. Make sure the homes are similar, if the house is much smaller or much bigger, it is not a comparable home.
You don't want to buy a house which has a leaky roof, cracked foundation or leaky plumbing, unless you are aware of it and are getting a deal. Having an inspection will point out all of these things to you and keep you from getting into something you can't afford to fix. The inspector should also be able to tell you about bug infestations and mold issues.
Buying your first home is such a great experience, but can be a bumpy road. You may not get the first house you fall in love with, but that does not mean you should stop looking. The most rewarding feeling is when they place a shiny set of keys into your eager hands, that feeling alone makes it all worth it.
Before you fall in love with a house that's out of your league, find out how much house you can actually afford. Do some research on lenders, ask friends and check out the interest rates until you find a lender who suits your needs. They should be able to answer questions and help you find the type of loan best for you. Pay attention to additional fees and ask if you don't understand.
Now that you have an idea about how much money you can spend, it's time to figure out the general aren in which you want to live. A real estate agent can help you search by finding houses in and around the ideal places and by staying on budget. They are like a relationship match maker and will be able to show you other zip codes and homes which will suit you.
Before you can find the perfect house, you need to know what that is. Make a list of necessities, along with a list of wants. The key to this being successful means the list of wants is something you're willing to go without as long as the list of necessities is met. For instance, can you live in a two bedroom one bath home if it has a large yard, or do you need the second bathroom?
When making an offer, it's important to come in at a reasonable price for the area and the circumstances. An agent will be able to help you with these decisions as they already know the comparables. Inform yourself by researching homes which have already sold in the area you are looking. Make sure the homes are similar, if the house is much smaller or much bigger, it is not a comparable home.
You don't want to buy a house which has a leaky roof, cracked foundation or leaky plumbing, unless you are aware of it and are getting a deal. Having an inspection will point out all of these things to you and keep you from getting into something you can't afford to fix. The inspector should also be able to tell you about bug infestations and mold issues.
Buying your first home is such a great experience, but can be a bumpy road. You may not get the first house you fall in love with, but that does not mean you should stop looking. The most rewarding feeling is when they place a shiny set of keys into your eager hands, that feeling alone makes it all worth it.
About the Author:
When you are looking for investment property, it helps to have a professional agent to help you through the steps of the transaction. For a first home buyer it is even more important to get good guidance.
No comments:
Post a Comment