When you decide to buy your first home there are so many things to consider. There’s the actual searching for location, finding just the right size and amenities, financing, contracts, and a long list of other considerations.
Having this long home buying to do list just might make you a little nervous. But since you found this article, you are probably getting a head start by gaining some background knowledge before calling a realtor or searching the MLS.
Proper planning will help you transition into your new home with much less stress.
Here is a short list of things to consider before you buy your first home.
• Find the right neighborhood
• Find the right size for you and your family
• Find the features you are looking for
• Choose the right sized yard
• Choose the right realtor
• Understand the housing market
• The ins and outs of home inspection
• Making an offer
• Reading contracts
• Saving down payment and closing costs
Once you find the home you will have two or more weeks to get ready for the move. Here are some things to plan during that time.
• Moving arrangements
• Home inspections
• Yard sales
• Budgeting for paint and other supplies
• Taking time off from work
• Finding a lawyer if necessary
We will be writing about each of these in the weeks to come to help you prepare for buying your first home.
New Vs Older Homes
First time home buyers may consider an older home for their first purchase. They may cost less, but they can also come with hidden problems. Be sure to hire a home inspector of your own before you make a final decision. Then you may have some things to negotiate that can affect the price.
Be sure to check with some local builders as well before making any final decisions on an older home. Just know what size you are looking for and other amenities before making the appointment. Do you want a 3 bedroom and 2 bath with a garage? What is most important to you?
Which Home to Choose
It might help you to create some sort of digital spreadsheet to keep track of the homes you are viewing. Grab your cell phone and snap pictures of the exterior and any other features you want to remember. Place the images into a folder along with the home size, price, neighborhood, mortgage payment, repairs, and any additional features.
Take your time, be educated, and enjoy the experience.