5 Things to Know Before you Buy your First Home

Buying your first home is a major milestone in life, it’s up on the list along with getting your first car, getting married, or having your first child. It’s an exciting time to be sure, but it can also be stressful. It’s typically one of the largest financial investments you’ll make and it’s a place where you’ll call home which involves some deep emotional ties. Plus navigating the whole buying process is often a new and daunting process.

I’ve come up with a list to help you focus on the most important things you need to know when buying your first home. Ready? Let’s dive into these 5 tips!

1- Know Your Budget.
Make sure you know how much you can spend on a home before you begin your search. Speak with a trusted mortgage lender. (A good agent can refer you to mortgage lenders) They can help with a pre-approval first so you focus your search within that budget. Do not add debt, make late payments on credit cards, or shift finances while searching for a home.

2- Narrow By Neighborhood & Type
Talk to an agent that works in the areas you’d like to purchase. Allow them to assist you in narrowing your home search focus to neighborhoods and home types that fit your specific needs and wants.

3- Get the Details From a Pro
Understand the process of purchasing a home once you get an accepted offer so you can anticipate costs and timelines associated with buying a home. A good realtor can explain the entire process in detail so there are no surprises.

4- Hang Out in Your Area of Interest
Spend some time in neighborhoods you are interested in. Visit during the day and at night to make sure you like the area at different times of the day.

5- Sample and Review
View a sampling of homes in the areas you prefer so you have a solid understanding of the market. It’s also important to review the type of home you like before you commit to purchasing a home. For example, some don’t mind the outdoor upkeep of a single-family home, and others enjoy the ease of maintenance of a condo. Make sure you take the time to consider all the factors that go into the type of property you’ll eventually be spending lots of time in.

I hope that these tips help make your first home buying experience a good one. Having some knowledge going into the process and working with that right agent can make all the difference so that you focus less on the stress of buying and spend more time enjoying your first real estate adventure!