After months, even years, of deliberating, you have decided to buy your first home. Is it a terrifying prospect, knowing that you will be moving forward to make such a significant purchase? Absolutely! Will it be worth it, knowing that you have your own house that you call home? Most definitely!
Across the US, there has been a steady incline of first-time homebuyers every year, each getting their foot onto the property ladder. Each one will have undergone the time-consuming task of searching, saving, and navigating through the legal processes of buying a house.
Beginning the process of buying your first home is exciting, albeit a nervous time. Ensuring you cover all grounds and know what to look for when finding your first home can be greatly beneficial. If you are ready to pack up and move into your own place, here are a few tips to help you find your first home.
Think About The Area
For many, their first home is to help them get their foot on the property ladder. It is a chance to move into their own space and decorate it to their taste and style. When they think of their first home, what it looks like, how many rooms it has, the yard space, and if there is a driveway or a garage are some of the qualities that will immediately come to mind. However, the area the property is located in is also something worth considering.
Your first home might not be your forever home, so you will likely look at selling it in the future. Due to this, you want to ensure that the area you are buying a house in is desirable or is growing in popularity. This is because when it comes to selling your first home in the future, you will have a greater chance at success. While living in the property, you will want to feel safe and have the right transport connections you may use during your time there. Hence why, thinking about areas and researching them is a must before moving forward and placing an offer on a property.
Open To Compromise
Although it would be ideal, your first home will likely not be your dream house. It might have some of your most desired features, but it may only tick some boxes. When searching for properties, you have to be open to compromise. Your choice of location and your budget will influence the types of properties you can afford. As such, properties that tick every box might be out of your price range. Whereas properties you could afford may tick most but not all boxes.
This is why being open to compromise can be helpful. Decide if you are willing to be flexible on the location and are happy to look for properties in other areas within budget and tick all the boxes. Alternatively, you might want your property in a specific location, so you have to be open to not finding a property with all your desired amenities.
Don’t Forget Real Estate Agents
Looking through property sites for hours at the different homes and trying to create a list of potential options is easily done. However, a few available properties might not feature on these property sites or have yet to be uploaded, making your choice of options slightly limited. As such, consider working with real estate agents to view their list of homes for sale in areas that interest you.
For example, for those looking for real estate in Greenville, you could partner with the real estate agents at EZ Home Search. Working with local real estate agents could show you a range of Greenville homes for sale that might not be on some of the property sites you viewed. This extensive list of properties might uncover the perfect place to be your first home.
Common Mistakes To Avoid
Throughout the years, many first-time homeowners have fallen for the same common mistakes. Understandably, when buying your first home, you want to ensure that you are investing in the ideal place for you at that time in your life. Wherever possible, you want to ensure that you have reduced as many risks as possible that could lead you to invest in the wrong property. These are just some of the common mistakes to try and avoid.
- Limited Research – Without question, limited research could lead you to invest in the wrong property. You might end up investing in a house that could be difficult to sell in the future when you are ready to move homes. This could be because the location is undesirable or the property structure is not ideal. Researching properties and areas can take time. However, it is worthwhile when you are investing in a property that can potentially increase value in the future.
- Underestimating Costs Involved – There is a reason why organizing your finances is crucial before buying your first home. Aside from the deposit and mortgage repayments, multiple additional costs are involved when buying a house. Unknowingly to many first-time buyers, these extra costs are not something they factored into their budget or savings before progressing forward. As such, many will find themselves without enough funds to pay for the legal and surveyor fees, amongst other additional costs. Ensuring that finances are in order will help to avoid these issues.
- Not Asking Questions – Buying a house is undoubtedly one of the biggest investments you will likely make. As such, you should ensure that you have as much information and more about what you are buying. Understandably, it is an overwhelming process, especially as it is your first house. Since it is your first house, you should ask plenty of questions before, during, and after property viewings. Ask your chosen real estate agent plenty of questions about the area and how long the property has been on the market. See how much other properties in the area are being sold for and if there is much interest. Gaining as much information as possible will help you rest assured, knowing that you have made the right investment choice.
Making The Move
With your finances in order and after finding what will hopefully be your first home, undergoing the legal process is the next step that might take a little time to complete. This can be frustrating, especially for first-time home buyers who want to get their belongings packed and move into their first home. Be patient with this part of the process, as you want to ensure that everything is done properly the first time to avoid any unpleasant surprises or further delays with getting the keys to your first home.
The excitement of moving into your first home begins when everything has been approved and the keys are in your hands. Packing and planning a moving date might not seem enjoyable, but knowing that you will be moving into your first home will certainly change that! Knowing the date you will be moving in might have already led you to plan what household items you will need on your first night in your new home. Having these ready and easily accessible will make a noticeable difference to your first night. Before you know it, time will quickly pass by, and you will have turned what used to be an empty property into your home.
Featured Image by Paul Brennan from Pixabay