You’ve been waiting and saving for this moment. Now, it’s time to start searching for your perfect home. Buying your first house is exciting! It’s also a bit scary. After all, you have saved and prepared for so long; how can you be sure you are making a good investment?
Here are some tips for buying your first home confidently.
Talk with Friends and Family
You can – and should – learn from those who have purchased a home before you. Family members and friends can tell you about their experiences; you can learn from their mistakes and from what they did right.
Know Your Finances
First-time home buyers should know everything about their finances. Beyond checking your credit report and assessing how much you can afford to put towards a down payment, you should also forecast your spending over the next 3, 6, and 12 months to assure you can afford a mortgage. Remember, just because you are approved for a certain amount it does not mean you can afford the monthly mortgage payments.
Write a List
No home will meet every requirement you may have, but it is wise to compose a list of your top features or amenities. This will help you get your priorities in order and then act accordingly. If you aren’t sure what you should be looking for in a home, consider checking out homes for sale online to see if you think an upgraded kitchen is more important than your ideal neighborhood.
Work with an Attorney
You shouldn’t purchase your first home without help. In addition to your family and friends who offer advice, you should also secure an experienced realtor to guide you through your purchasing process. Finally, partner with an experienced real estate attorney from the beginning of your home search. Your attorney will be able to advocate for your best interests during the inspection, the closing process, and throughout the purchase.
At Bell & Shah, we love working with first-time homebuyers! We would love to work with you during this exciting time. Call us today to get started.