4 Important Tips for First Time Home Buyers

 

Having your own home is one big item in any person’s bucket list. If you are excited to finally move out of your parents’ house or about to begin your own family, you have a lot of things to consider before making that important purchase. Here are some tips that can help you kick off your home buying decision:

Pick the right location

Look for a place that is near your workplace, a potential school for your kids or near a hospital. Doing this can save you more time, energy and money that you can allocate to your savings. Ask expert advice from a real estate agent, research online or talk to property specialists from trusted developers.

Select the right size

Determine the size that you would need. Is it just going to be you living in the new home or will you be a small family occupying the place? Is the condo just a few blocks from your office a good deal for you or do you want a place away from the city? There are pros and cons with any choice you make. Keep in mind that the bigger the home, the more money you will need for maintenance and monthly bills. Be wise in buying your furniture and make sure that it can be multipurpose to maximize your available space.

Choose the right property

Once you’ve narrowed down your choices, make a home inspection with a property inspector or if you have a friend who is an engineer or an architect to help you out. It is wise to make sure that the property is in tip top shape to avoid surprise repairs that needs to be done a few days after you moved in. Check if there are pest problems or structural issues that need to be addressed. If the property is not brand new, it will be easier to bargain with the seller.

Decide on your budget

Make a list of all the possible expenses related to buying your own home. Allot money for additional costs like property taxes, agent’s fees and inspection fees. You don’t want to be left with nothing since buying the property is just the first step. More expenses can be expected once you’ve moved in.