Building or buying a home can bring up all kinds of emotions. There is a lot to think about, so it can be exciting and filled with anticipation about what’s next. Take some time to consider some great tips for first time home buyers.
Tips for First Time Home Buyers
Money Matters
One of the hardest things about buying a home is setting the budget. It helps to project out what seems reasonable and affordable with the current situation into the next few years. Look ahead and think about what would make the most sense and still maintain a reasonable amount of extra money for savings and an emergency fund to take care of the new home. Additional costs will add up quickly, including inspections and closing costs. Know the market for your area, which helps anticipate costs.
Set Goals
Building a home takes time and perseverance. It also takes goal setting to know what upgrades and features to put in that are not going to strain the budget. Prioritizing is about knowing what is going to make the home better for the family and increase property values down the road. Some things to consider:
- Too much customization can cost more money
- Pick a few features to focus on (lighting, doors, windows)
- Get prices and stick to the budget
Pick an Agent
One of the most important aspects of house hunting is picking an agent who will help with the process. Purchasing land to build a home is crucial because considerations need to include location, size of the property, and assessed values now and in the future. A great agent will know the landscape and demographics enough to recommend what you can do on your budget and build the home of your dreams. Be sure to get an appraisal of the property and find out all the nuances before moving ahead.
Get a Lender
Negotiating money issues is critical for the success of the home buying process. Honest, reliable community members who get great reviews from family and friends are more likely to help you find the best deal than picking someone out of the phone book, so to speak. Look around, ask people who are good, and check their background in lending money for first time home buyers.
