Take a peek at the secrets to making this experience a success!
Buying your first home is certainly exciting – you’re finding your own space where your family will create memories to last a lifetime. But although it will be a life-changing experience, it’s doesn’t have to be a nerve-wracking one! Follow our tips to make buying your home easier by knowing what to do, and what not to do:
DO: Get Preapproved and Find your Number
Securing preapproval from a lender is an easy first step towards figuring out your home-buying budget, and while it’s not the whole job (you’ll also want to review your other expenses to make sure that amount works for you) it’s essential and quick. Once you’ve found the magic number, ask your agent to help you find the full cost of the properties you’re interested in, including taxes, insurance, and closing costs. A lot of these things are mysterious at first, but it’s their job to see you through it.
DON’T: Get Carried Away!
Once you’ve landed on that perfect budget for your first home, make sure to avoid “budget creep,” that all-too persistent tug to add a pool, a third bedroom, or a pricey kitchen renovation to the plan. In the moment, these add-ons (especially the affordable ones) seem reasonable, but over time they’ll accumulate and push you out of your comfort zone, and that can make the mortgage application later more difficult than it needs to be!
DO: Choose the Perfect Neighborhood
A big part of the right home is the right location and figuring out this part can sometimes be as tough as finding the house itself! You might decide that an area doesn’t have enough parks, good enough schools, or a lively enough town center, and you want to figure that out before you start looking for properties. Not sure exactly what perks an area has to offer? Your agent is ready to help with that, too.
DON’T: Skip the Inspection
We all know what it’s like once you find yourself standing in your dream home; you want to move in right away! You’re already hanging the curtains and changing the light fixtures in your mind, and while this is totally fine, you never want to make an offer without a trained professional looking over every wall crack and drippy pipe. It’s an expense and it takes some time, but you’ll get a true picture of the costs of buying that home. You’ll need to factor these into your total budget, and it can even make an impact on what you decide to offer when that time comes.
DO: Consider the Resale Value!
Speaking of inspections, a house’s imperfections can be seen by some as a big opportunity when taking into consideration the actual value (above what you’re paying today) if those flaws were improved. This is what we think of as the resale value – the amount you stand to profit when selling the house down the line. Fairly straightforward repairs and equipment upgrades can pay for themselves and then some in terms of added value. And don’t underestimate the importance of curb appeal – a quick cosmetic fix can melt a buyer’s heart, which means more money for you when it’s time to move.
DON’T: Lose Your Nerves – It’s Going to Be Fine!
Buying a home means so many different things to a new buyer, and all at once, so it can be quite overwhelming. But, first things first: don’t panic! Although this process has a lot of moving parts, we do it every day and we’re here to guide you every step of the way. Buying your first home is a major milestone, but you’re not doing it alone; so take a breath, jump right in, and remember to enjoy this exciting moment!
SOCIAL MEDIA TEASERS
- Buying your first home is a big step, but you’re not alone! Today on my blog I unpack some tips and tricks for making the process as easy as possible, right through to closing day.
- Ready to buy your dream home? Here are some traps to avoid (and some tricks to make it smooth sailing)!
- If you could advise your younger self on how to buy that first home, what would you say? I have a few ideas in today’s post.
NEWSLETTER TEASER
Email Subject Line: Do’s and Don’ts for First-Time Home Buyers
Headline: Rest Easy with These Sure-Fire Tips for Buying Your (First) Dream Home!
Subhead: Buying your first home doesn’t have to be a nerve-wracking experience; we can help with these six Do’s and Don’ts!
We’re in the real estate business so we’ve seen it all, and while the process of buying a home can seem overwhelming, we know a few things that will make it smooth sailing!
- DO: Choose the Perfect Neighborhood
- DON’T: Get Carried Away!
- DO: Consider the Resale Value
