You have now decided it is time to buy your first home. Here are a few tips that can make your experience a very positive one.
Location, location, location.
You have heard this term many times over and will hear it often. Location is critical when looking for your new home. How far do you really want to commute in traffic to your home? How are the local schools, is shopping nearby and convenient, what about public services? What is the empty lot behind my home going to be? This is critical questions that only you have the answer for. When you buy a home something that you must consider is resale. You told the seller your objections about the home and those same objections probably will come back up when it is time to sell. Always think resale.
Make a wants vs. needs list
If you make a list prior to going out on your home search this is going to save valuable time. Your list has to be realistic according to your budget. Are you going to have an in ground pool with a first time home buyer budget? Probably not. Are you going to have a spare bedroom for grandpa and grandma when they stay with you? Probably. Your needs or features have to be what you focus your search on. If the home comes with extra features this is an added bonus.
Do your due diligence
You have to do your homework when searching for your home. If there is an empty lot behind you call the city or county and find out what it is zoned for. An educated consumer is going to know market trends and facts about neighborhoods. Search the internet and go on a fact finding mission.
Get pre-approved for your mortgage
Schedule a meeting with a lender to get pre-approved for a price range that you can live with. The lender will run a credit report and explain to you the best options for financing for you. You have to be comfortable with down payments, closing costs, and other factors that will come with buying a home. Do not make yourself house poor!
Make a checklist
This is going to come from your wants vs. needs list. Take notes on the homes that you tour. The homes tend to blend together after you have seen five or six. Keep track of which home best suits your family needs.
Be comfortable
When you are looking at homes you need to be comfortable. Wear comfortable shoes first and foremost. Dress comfortable. It could be a long day if your feet get tired and you have ten homes to look at.
Be prepared to write an offer
You are out there for a reason and it is to find a home. If you find one you need to be prepared to write an offer. If you are not ready to write an offer you are not ready to own a home. This is fine and you know your limitations. You have done your homework and you have narrowed down your search to a specific area. Request a copy of a bland purchase agreement and know the process of writing an offer.
Relax and have fun
After looking at homes go and unwind. What better way is there to sit down in a quiet place and talk about what you have seen that day? It is still fresh in your memory and you can start to rank the homes from the possibilities to the no thanks. Have fun with the experience.