The first time you buy a home can often feel like taking a test you never studied for. The process can be very complicated and hard to follow, which is why you need all the help you can get. These are some tips professionals provide for first-time homebuyers to help them make a better decision.
1. Take a Look Around the Neighbourhood
You may be buying a piece of property, but you’re also investing in the area around it. Without knowing the neighbourhood, you haven’t actually discovered everything about your new home. It’s absolutely imperative that you do some research on the neighbourhood and area around your potential new home. Look at what’s within walking distance, what the schools are like, where you’ll find your necessities, etc. All of these things are an important aspect of your home, so you need to see if they will fit into the lifestyle you want in the new home.
Most people never actually write down their actual wants for a future property. Without a clear roadmap for what they wan, however, they can often settle for things they don’t want or need. Start a checklist of things you want in a new home, including anything you think is important. This could be size, type of yard, location, and other options. Get all of these things down on a list, then start categorizing them according to what you absolutely need, what you really want, and what you could sacrifice. With such a list, you can start looking at homes more suited to your needs, and find a property you’ll love even more.
3. Learn About the Extra Costs
Mortgage payments aren’t everything you’ll pay when you buy a property. There are lots of extra costs, including closing costs, that you will have to pay either in your mortgage payments or as a lump sum. Either way, you’ll need to save up some extra cash to cover these costs and understand your mortgage payments will be higher than just the property. By learning about these costs, you can set a more accurate budget that will help you look at properties you can actually afford.
4. Stay Calm
When we walk into a home we truly love, we can often get swept up in the moment. This feeling is wonderful but you will need to be more objective once you start thinking about buying. Take a hard, objective look at the home: it’s faults, its problems, and its benefits. Without being objective, you could end up with something that’s great on the surface but nothing but problems down the line.
Looking for the right home can be tricky, but having the right people around you can help immensely. If you’re a first-time homebuyer in Edmonton, be sure to call our dedicated and experienced real estate agent from Edmontonhomesonsale Team to help you find the best possible home for you.