Tips for First-Time Home Buyers
If you are a first time home buyer, the process of buying a home can be a bit of a minefield. A qualified real estate agent is your ideal partner if you’re looking to buy, and will help guide you through all the things you need to be aware of. So what are some of the things you should be aware of?
Neighborhood Building Plans
Before you decide to invest in a home, look into future development plans in the area. You may discover that a giant development is going to be constructed on your doorstep, or a new road is going to be built at the bottom of your yard.
Getting a land survey done on your chosen property will reveal property boundaries and issues that may affect your new home or cause potential disputes.
Don’t be too impressed until you’ve had a thorough inspection carried out on your potential property. It may look ideal but if you look a little more closely, you may find a host of repairs that need carrying out.
Check That You Can Afford To Buy
Everyone dreams of owning their own home, but don’t rush into a commitment until you are absolutely certain you can cover your costs and still afford your daily expenses. Owning a home is expensive – not just the purchase itself, but ongoing decoration and maintenance costs. If you can’t afford to meet your bills and living expenses, now is not the time to buy.
Secure Your Financing First
There is no point in finding the perfect home before you know you can get the money to buy it. Make sure you organize your mortgage first, otherwise you risk losing out to another buyer who already has financing in place.