Buying a home is a huge decision to make. How do you decide if a home is right for you? There are a lot of things to consider, but here are a few of the lesser known tips to make the process easier and more accessible for inexperienced buyers.
Think about selling
Ironically, one thing you should think about when buying is… selling! Consider the long-term prospects of your property. Are you planning to have kids or take care of elderly relatives? How long do you plan to live in your first home? You may end up selling sooner than you think, and it’s important to consider who your potential buyers may be.
Make a check-list
Home buying can be stressful and emotional. When evaluating a house, you will want to be level-headed and make simple, objective comparisons. Make a check-list of your must-haves, nice-to-haves, and any other notable essentials. As you visit each house check the items off your list. You may be surprised to find that the homes you are less in love with on the surface have more of the must-have items on your checklist.
Look at all the expenses when budgeting for a house. Principal, interest, taxes, insurance, utilities, and the cost of commuting should all be considered. Will a longer commute increase your gas costs?
Read the contract
A house is often the largest purchase you will ever make you in your life, so take the time to read all the details of your contract. Ask your real estate agent if you don’t understand something in your contract. A good real estate agent is happy to make the terms of your contract clear and easily digestible. Don’t let anything sneak up on you.
Don’t buy a house for the view
Views can change. Within just a year of moving into your new home a new development could ruin the view you loved. Buy your house for the house itself, and worry about the view later.
Do your research
There are a lot of grants and funding sources that you may not be aware of. Some grants are based on profession while others are region. Be sure to research all your options to see if you qualify for any.
Also consider neighbor and demographics. A neighborhood full of renters presents volatility and an opportunity for bad neighbors. If you have kids, you may not be happy in a neighborhood full of single people.
Let Simply Referable help you find the right buy
Looking to buy a home? Let Simply Referable take the burden out of buying. With your Simply Referable team, you’ll cut the right deal for the right price with qualified guidance every step of the way. Every team member is committed to selling your home and forming a lasting bond with your family. Thanks to our roots in the Maryland/DC region, we can help you find your dream home. Contact us online and give us a call at 410-983-9045.