If you are thinking of buying your very first home, you are probably excited and ready to start the search. But if you have never purchased a home before, there are aspects of the process that might be foreign to you. Here are a few pieces of advice from veteran homeowners:
- Hire a buyer’s agent. With technology making it so easy to see which homes are for sale in a certain area, you might start to believe that you do not need to hire an agent to help you buy a home. The truth is, however, that an agent can be a huge asset. Not only will they help you get a better price on the house you want to buy, they make sure that the home you buy is actually right for you.
- Do your own inspection. Don’t just trust what the sellers tell you. Even if the idea of having a mold or termite problem won’t put you off of the house entirely, you want to know what the issues with the house are before you make the purchase. You’ll probably still end up buying the house, but you should know what the obstacles are before you buy.
- Understand your market. Do some research before you actually get out there are start looking at house. You want to know the average price for homes in the area, as well as their lot sizes and square footage. Having some information about the neighborhood can also help you make sure you’re moving into the right area.
- Avoid making other big purchases. You might be looking to buy your first home and your first car at the same time, but hold off on making any other large purchases around the time when you are going to buy your home.
- Know what you can afford. This is why getting pre-approved for a mortgage is so helpful—you’ll be able to know how much home you can afford based on what a lender is willing to give you and how much you can afford to pay each month. You’ll have a much better chance of getting a home that you both love and can pay for when you know your budget before you start shopping.