Buying a home is a huge step for many families. Whether you are a first time buyer or not, it is a large purchase for so many. We’ve got your best tips for buying a home!
1. Keep your money where it is. Avoid making a huge purchase 3-6 months before you decide to make your home purchase. Lenders want to track that you are a reliable and responsible client.
2. Get Pre-Approved for your home loan. You’ll save a lot of time and energy when it comes time to look at homes. When you are pre-approved, your lender will inform you on how much you can spend, which can mean lots of saved hours at looking at the wrong homes you may not be able to afford.
3. Avoid a border dispute. To keep you and your potential neighbors happy, make sure you know what your property size is, including driveway, backyard, etc. This will help with you property tax fee and potential neighbor argument in the future.
4. Don’t try to time the market. This is important. The market is unpredictable and has many ups and downs. Trust your gut. When you and your family know you’ve found your perfect home, at your affordable rate, it’s a good time to buy.
5. Bigger isn’t always better. This is something to think about for the future. You never know where the future will take you and you may need to make a move into a bigger or smaller home, consider the value of your neighborhood in anticipation for a re-sell.
6. Avoid sleeper costs. A mortgage payment isn’t the only fees that come with a home purchase. Depending on where you buy, home owner association fees, property tax, utilities, etc, should be included in your budgeting. Also, as time goes on your home will need repairs, whether they be minor or major.
7. You’re buying a house, not dating it. There are going to be a lots of emotions during your home search, which can cause irrational decision making. Remember go with your gut not your heart. You may love something deeply, but if it doesn’t make sense financially, it may be a sign to walk away and keep searching.
8. Give your house a physical. Before making that final offer, take an in depth look at your potential home. A great tip is hiring a home inspector. It will save you lots of time and money in the future.
9. Bidding 101. There are two things to remember when giving your opening bid: one, what can you afford and two, what are you really worth? Depending on where the market is, may depend on where you start the bidding. It’s a fair number, as you don’t want to offend the seller. Also see what other homes in the neighborhood are going for to give you a potential property value.
10. Stalk the neighborhood. Even if you’ve found your perfect home, the neighborhood may not be the best pick for you and your family. Visit your potential new home morning, noon, and night to get an idea of what the neighborhood is like. Are your amenities such as a gas station or grocery store too far? How are the schools in the area? These are things to ask yourself before your final decision making.
We hope these tips help you with your future home purchase. If you have specific questions, please email us directly at email@example.com or call us at (714) 713-4663 so we can ensure that your request is granted quickly!