Buying a new house can be overwhelming for first time buyers. There are lot of decisions that need to be made when you’re trying to find the perfect home. Here is some advice for first time home buyers from real estate agents who have helped many first time buyers find their perfect homes:
Consider All The Options
Single family homes are not the only types of homes that are available. Many people never even consider condos or townhouses but condos or townhouses can be a great option for first time home buyers. They usually have a lower price tag. They also don’t require as much maintenance as single family homes. In many urban areas condos and townhouses are more affordable for first time buyers. They also are usually newer and have lots of upgrades that first time buyers are looking for.
The biggest mistake that first time homebuyers make is not asking questions. It’s ok to not have all the answers. A real estate agent can help you understand the process of buying a home. But only if you ask questions as they come up. Don’t be afraid to ask your real estate agent when you don’t understand something. When you visit potential homes it’s a good idea to keep a notebook and a pen with you so that you can jot down any questions that you have during the tour. It’s better to ask and get a direct answer than to not ask and just wonder or assume what the answer is.
Focus On What You Need
Many first-time home buyers have visions of giant brand new homes with lots of fancy upgrades. Usually they don’t have the budget for large and expensive homes. Instead of thinking about all the features you want your dream house to have focus on what features your home needs. Think about the functionality of the house instead of the size of the house or all the extra features that you want. If you’re buying a starter home it’s better to focus on a less fancy house that has what you need instead of taking on a huge mortgage for a house that is larger and more expensive.
Along with focusing on your needs instead of your wants you should also be realistic about what your budget will buy. You may not be able to afford a home that is move in ready or in a specific neighborhood. Decide what work you’re willing to put into a home in order to get something that fits your budget. Are you willing to repaint? How about willing to put in new floors? Be realistic about what your budge will buy in your chosen neighborhood.Posted by Gurpreet Ghatehora on