Whether you are looking to purchase your first home by yourself or with your significant other, the first-ever home purchase is a big move. Not only is it likely the largest purchase you will have made thus far, but it is also an extremely monumental moment that you will remember forever! To make sure that your home-buying process is successful, we have rounded up a few tips and tricks that you should keep in mind. With these, you can ensure that the process is totally seamless, from start to finish.
- Know your budget. Before beginning the home-searching process, it is important to first and foremost figure out what is affordable for you. Take a look at your total yearly income and assess how much you can safely spend on a house. You can also work with financial advisors to help determine this based on your income along with other factors, such as any current debt and your credit score.
- Get pre-approved before you start scoping out homes. Next, before you start the search, make sure that you are pre-approved for a mortgage. By getting this pre-approval, you will be able to move quickly once you find a home that you love. Not to mention, it shows the seller that you are truly serious and ready to commit.
- Be clear with your agent as to what you’re looking for. Now comes the fun part! When you begin looking for homes, make sure that you are clear as to what you are looking for so your agent knows what options to show you. For example, you should have an idea of how many bedrooms you are looking for, how many bathrooms, how big of a yard you would like, and more.
- Have an open mind. You may not find your “dream home” right away. And, for many people, the first home they buy is far from their dream home. Recognize as you are searching that this may not be your forever home, and that is completely okay. However, when you are shopping around, make sure that the home is somewhere you can settle down for at least 3-5 years.
- Learn as much as you can about the neighborhood. So, you have finally found the home you are looking for. But before committing, you must check out the neighborhood. Ask yourself the question – is this really somewhere I can picture myself living and fitting in? Is it safe? If you have children, how is the school system? These are all important questions regarding the location of your home.