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We have all been waiting to have a space that we can call our own home sweet home. But, buying your first home is not as simple as you think. Luckily for you, we have collated some great tips on your first home hunting.
Know what you need
It is not enough to just say: “I want my own place.” First, you need to know your current needs and your needs in the next ten years. Tania Brown of Forbes Magazine has quite learned the importance of this assessment from her and her cousin’s experience.
When first-time buyers are looking for their first home, emotions tend to run high in their decision-making process. For example, Brown’s cousin had bought a house and a large acre of land as she found it “beautiful.” But, this beautiful decision quickly turned into a mistake. She couldn’t maintain her home because of her frequent travels. She later moved to a condo unit as it is more convenient for her.
Consider your budget
Budgeting has never been more important. You need to know what expenses you will be dealing with before purchasing your first home. Right now, you may have enough budget to purchase your new home. But, what about maintaining it? While Brown was able to determine moving costs, she failed to take note of the “nesting budget.”
Before looking for a new home, it is best to read books and articles on how to budget for a new home. One thing that you might want to consider doing is getting loans. According to Elizabeth Weintraub of The Balance, most realtors don’t sell homes to people who can’t seem to get loans. If you think that you don’t have enough capital right now, this may be a good option.
Hire an agent
With the age of the internet, everything is searchable, including homes. But is it enough? It is recommended that first-time buyers get the help of agents. These experts can not only provide professional advice, but they can spot overpriced listings that first-time buyers are frequently duped into buying. But, most importable of all, agents can help you save a lot of time in searching for your dream home.
But, hiring an agent is not enough. You have to keep yourself informed about the home buying process. You can ask your agent about this process, but you can also read information online.
Inspect the place
The home inspection is the arguably the most important step in the home buying process. Unfortunately, a lot of people are taking this step for granted.
When you are inspecting the place for the first time, check everything. The faucets, the outlets, even your neighbors! As Weintraub says, “home inspection is for the buyer’s edification.” If ever you find damages in the place, you can either ask for repairs or deny the offer.
Just remember - there are a lot of places being offered out there. Reserve a maximum number of seven homes under your list as this number is enough to find your first dream home.
Contributed by: Allison Julianne Macasaet, a freelance writer on the side, a student of international relations on the other. Interests include fantasy books, international relations, and lifestyle.Posted