Buying a home is an extremely stressful process. It can be even more stressful if you are unfamiliar with the process. But for first-time homebuyers, there are some things you should think about before purchasing a home. Let’s take a moment to discuss some of these things.
Are you planning to have kids or long-term guests? These are just some of the things you should be thinking about before buying a home. Spending a little extra money on some extra bedrooms could save you from moving again once you have a few children running around.
How about Re-Sale?
If you are planning to live in your house for only a few years, think about how the home would sell. If you buy a home in a poor school district, in a bad neighborhood, or on a busy street, you may have a hard time selling the home down the road.
Make a Checklist
Buying a home is an emotional process but you should think critically and as objectively as possible. Set your emotions aside and make a checklist of everything you want in a home. Think about the must-haves like appliances, the number of bedrooms and bathrooms you’d like, and the parking situation. Then think about the things you’d like to have like a home all on one floor, a dishwasher, and a deck or patio. These are items not essential to a home but would be lovely to have. Once you have your list, use a copy of it for each house you visit. See how the house aligns with your must-haves. This will help keep your emotions in check and keep you from having buyer’s remorse later.
When you look at how much home you can afford, don’t just look at the price of your interest and mortgage payment. Think about things like taxes, insurance, utilities, cost of commuting to work, and any upgrades that need to be done. Call your utility companies and ask if they service the house you are considering then ask for an estimated monthly cost. Budgeting for all of these things will allow you to see if you can afford the house you want to move into.
These are just some of the things you should be looking into before moving into your first home. For more items, check back next week for part two! For more information being a first-time homebuyer, call Simply Referable today!
What First Time Homebuyers Should Think About with Simply Referable
There are any number of obscure and strange real estate laws in Maryland. The small team of realtors at Simply Referable will be happy to help guide you through the thicket. Each of our team members has an area of expertise, and we strive to form lasting bonds with each of our clients. We want to be your go-to realtors every time you or a friend wants to make a change. With local experience, our realtors can help you choose a house that is just the right fit for your family, now and forever. Contact us online or give us a call at 410-983-9045.