Buying Your First Home

 

For many people buying your first home is equal parts nerve-wracking and exciting. The thrill of finding a home you fall in love with can be mixed with a numbing reality that it might be out of your price range, or that it was sold before you could get your hands on it. For those men and women ready to take their first steps towards home ownership, here are some things you should consider.

 

Budget

This one should be fairly obvious. Know what your price range is. Have an upper-limit that you will not cross no matter how much you might like a house. Your perfect dream house is no use to you if you can’t afford it. Be realistic with your expectations and know what you are willing to spend before you start looking. A mortgage broker can be a great asset when house-hunting as well. A qualified and professional mortgage broker should be able to get you a better deals on the houses you are interested in.

 

Features

How close to your work do you want to be? Do you need a one-car or two-car garage? Does it matter if you have a big backyard? These are all questions you should be asking yourself when searching for a home. Make distinctions between what you need, and what you want. Sure a loft would be cool, but it is also extra money the seller is tacking on to the price for something you might not need. Things like parking, freeway access, HOA’s, and schools are all part of the package when it comes to buying a house. Having a big extended-cab truck might not work so well if you’re looking for houses in San Francisco, and by that same token a Prius might not cut it when you’re buying ranch property out in Wyoming. Match the features of the home with the needs you have to find the best fit.

 

Neighborhood

Probably the biggest feature of all, one that deserves its own section, is considering the neighborhood you want to live in. Are you looking for something out in the country or a your more of a city-dweller? Knowing what you are looking for beforehand will help narrow your choices beforehand. Families might want to consider safety, schools, and open space when choosing a neighborhood. A single man or woman might find something closer to where they work, or with a livelier social scene, more agreeable. It all depends on what you are looking for.

 

Condition of the House

You might have found the perfect home on the outside, but inside it is a mess. Or maybe everything looks great but the house leans slightly to the right. Checking, then double checking, then triple checking the condition of the house you are interested is imperative to making a good decision. A rundown or house in need of repair can be more of a burden than its worth in the long run. Hidden costs can keep popping up and leave you wondering why you did buy the house all those years ago.

 

Get Out There

Most of this advice can be boiled down to take your time, and do your research. It might seem a bit simple, but it holds true. You aren’t buying a burger. You are buying a house. So take your time, do your research, and when you find the house that is right for you, enjoy the hell out of it.