Top Tips for First Time Homeowners

Owning a house is a dream for many people. And I’m pretty sure you have the same dream too. The first step would be saving enough money so that you can afford it. But if you already have enough money to buy a home, should you do it immediately.

Don’t be hasty. Getting the money is only the first of many steps. Now you need to do some research before you actually buy your first home.

For many first-timers, this can be very scary and overwhelming. There are so many types of homes located in many different locations. And you’ll have to think about the mortgage, maintenance, bills, and so on.

But don’t worry, I’m here to help you. I have plenty of awesome tips that can help first-time homeowners such as yourself.

Only get a house you can afford

This tip is mainly for people who are too attached to a beautiful house that they saw before. This isn’t good if you want to own a house without going bankrupt.

You need to keep your house expenses as low as possible. It’s ideal to keep your monthly housing cost no more than 25% of your monthly budget. This way you won’t get knocked down on your feet when other expenses arise.

Talk to a good real estate agent

A good real estate agent will give you a list of properties that you should buy. They can understand your needs and come up with the best list you can get. Not only that, a good real estate agent can fill you in on details regarding buying and owning a home and explaining the process.

If you ever feel lost and don’t know what to do and where to start, don’t hesitate to talk to a real estate agent. A good real estate agent should be patient enough to listen to your financial situation. Once you got a good real estate agent, make sure you listen well and learn as much as possible from them.

Online listing, real estate agent, and good price range

Combining the two tips above might give you a great result. Do you know that many successful homeowners found their home online or by talking with their real estate agent?

This is true, National Association of Realtors or NAR stated that 50% of homeowners found their home online and 28% through a real estate agent. Now you can use these two methods at the same time. First, search through online listings to find homes that are affordable. Create a list from your findings and send it to your real estate agent.

Your real estate agent will narrow down the options for you based on your preferences and budget. And will help you find great deals even before they’re listed. This way you can get the best home that your money can afford, easily and painlessly.

Open houses can be valuable

Attending a few open houses to get a closer look at the homes you want is smart. It’ll also give you time to think carefully before deciding.

Attend open houses even if you don’t think the house is for you. You can also use this chance to know the neighborhood and learn more about other things as well.

Find out more about the neighborhoods

Okay, so this is important. It’s better to buy a more expensive house in a good neighborhood and a cheap house in a bad neighborhood. Many homeowners are even willing to cut corners for home size and condition to live in a good neighborhood.

Ask your real estate agent for more information regarding the neighborhoods. Or attend open houses. Some things you should know are crime rates, distance from a school, quality of schools nearby, and overall quality of the neighborhood.

Home inspection

If you’re willing to spend more, paying for a home inspection will help you a lot. If you didn’t know already, a home inspection is a thorough examination of the entire house. From the structure to the surrounding environment.

Professional inspectors will give you a list of potential problems based on their assessment. Then, you can discuss this with them to come up with the best decision before buying a house.

Preparation is important before making a big step

Being a first-time homeowner can be nerve-racking. So many new things to learn and any mistakes could be expensive. But with a well-made preparation, you’ll be able to get your dream house at the best price possible.