First Time Homebuyers Quick tips you never considered
So you’re the first time homebuyers congratulations. The whole concept of getting married and buying a home may make first time home buying process a bit scary and overwhelming. You are now making one of the biggest purchases in your life, with no experience going in or to fall back on ever so slightly. The good news is that a little bit of preparation and research can go along way! And lets take a moment to thank Google for all of our research we will soon be conducting.
There are many things that have changed over the recent decades that influence the way that Americans buy and sell homes on the market, but the one thing that matters and holds to be true is, location. There may be several neighborhoods that you think you would be happy living in, but if you decide on the wrong location you wont be happy. This is where our journey on the research train begins!
Talking to friends, co-workers, drive around town, visit restaurants and stores and talk to the neighbors in the areas where you are considering moving to. Attend open houses, look at homes online and evaluate style, size and price. But by far the best person to understand your needs and be your guide is your real estate agent.
A good agent can help you narrow down your options, and will give you a better understanding of the areas you are looking to move into. They will know the area better than most people considering the fact that they have helped other homebuyers settle down in their perfect home. They will know not only and in’s and out’s of the house, but will also know about the neighborhood you are considering moving into as well, so they can provide you with the perfect fit! Below are also 3 key tips to remember when you are purchasing your first home:
Calculate each and ever cost: The purchase and the mortgage payment are just the beginning. Don’t forget homeowner or condo fees, homeowners insurance and real estate taxes. Plus, you will need to budget for utilities, repairs and maintenance.
Visit your favorite neighborhoods at different times: Most neighborhoods are quiet in the middle of the day, you need to see what the area is like on a Saturday night. Are there kids out driving and blasting music? What is it like in rush hour in the morning or during the evening?
Consider which contingencies you’re willing to waive. In the ideal scenario, a purchase offer is contingent on a satisfactory home inspection, approval of your mortgage and an appraisal that equals the purchase price. In most parts of the country, a buyer is smart to keep all those contingencies in the contract. But in a competitive market, you may be competing against buyers who have agreed to waive contingencies. You never want to agree to waive them unless you’re sure you’re 99 percent safe to do it.
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