Top Tips For Buying Your First Home
Buying a home for the first time can be an overwhelming experience. There are so many different things to look for that it can be hard to prioritize and figure out just what it is you need to pay attention to. Luckily, you’re not alone if you’re new to this: 32% of people looking to buy new homes are first time home buyers. Here’s a quick guide on what to check when looking at a home for sale for the first time.
- Check the neighborhood: When shopping for a home, it can be tempting to pick out a very general area and then look at the size and design of the home first. However, this can lead to buying a house you love in a neighborhood you hate. Make sure you get to know the area before picking out your home.
- Watch your down payment: Down payments can seem expensive, and you might try to find a mortgage payment plan that requires a smaller down payment. However, putting forward more money upfront can reduce your bills later. Overall, it tends to be more affordable to pay a larger down payment than to pay larger mortgage payments that add up to a hefty price.
- Schools matter: When looking at a home for sale, you’ll want to check the schools in your area, even if your family does not have any children who would be attending them. Schools can be a good marker for the community as a whole and help you gauge the kind of neighborhood you will be living in.
- Stick to your budget: Most importantly, when buying a home for the first time, make sure you know what you can afford. Your dream house might be slightly out of your price range, and in that case, it’s okay to walk away. It’s better to stick to your budget than to stretch for a home you can’t afford; there will be other homes within your price range.
Navigating buying a home for the first time can be difficult; hiring real estate agents to help you with your search can help.