7 First-Time Home Buyer Tips
It’s time. You’ve been saving your money, interest rates are, well, what they are, and you are officially pre-approved for a home loan. You’ve set aside a Sunday afternoon and you are ready to attend some open houses and look for “the one.” These first-time home buyer tips will help you find the house that is right for you:
Think beyond the now.
Do you plan to expand your family in this home? Maybe you anticipate moving out of the area in a few years, or perhaps this time you’re looking for a starter home but know that you’ll buy something bigger later. Keep in mind not only what you want, but also what will be easy to sell in a few years. If your house has a tiny yard or is on a busy street, you may eliminate whole segments of the market, like growing families.
Make a list.
A house can sweep you off your feet with its charm, hardwood floors and stained glass windows, but when considered objectively, it doesn’t meet your needs. Make a list, so that when you view a house, you can keep a cool head and determine whether it’s worth the swoon.
Contact the HOA.
The homeowners’ association may play a sizable role in whether you should purchase a house. If you plan to install a fence, rent the house out later or put in a pool, these items may have a section in the bylaws that prevents you from doing so. Take a look at the neighborhood dues, and examine the bylaws thoroughly. You’ll need to consider HOA dues in your monthly housing budget as well.
Read the contract.
Along with providing first-time home buyer tips, Dani Beyer Real Estate will walk you through your contract to ensure you understand each section. Ask questions about anything that seems unclear, but we’ll make sure you feel confident before you sign.
Look at the house, not the stuff.
Staging is incredibly effective at showing a house in the best possible light; it’s a great tool for sellers. As a buyer, beware of the temptation to buy a house because you love the décor. Look at the features of the home and imagine your own belongings there.
Find out how much of the view is yours.
If you purchase a home because it offers sweeping views of the valley behind your home, you should find out the likelihood of that view being turned into another neighborhood or a Target parking lot. You can also explore the option to buy the land behind your home so that you can count on the view in the future.
Embrace tried-and-true guidelines.
Not all first-time home buyer tips are insider secrets. Some are timeless: have an emergency fund before you buy, save up the 20% for a down payment, and don’t buy a home that’s more than you can afford. It’s heartbreaking to purchase a beautiful house, only to watch it deteriorate because you don’t have the funds to maintain it.
For more first-time home buyer tips or to get started finding the home that’s just right for you, watch our free first-time home buyers webinar or contact us at Dani Beyer Real Estate. We look forward to helping you find your new home!