Looking for your perfect first home is an exciting time. However, you cannot rush into it without knowing what to look for when buying your first home. With a few careful considerations, you will be on your way to moving into your dream home with your family. As first time home buyers, always find a real estate agent who is the area specialist and expert for the neighborhoods you prefer to live in…then go home shopping.
First, look for a home that you can love in any season. In other words, do not buy your first home on emotion alone. Signing a contract without truly sitting back and thinking about the ins and outs of the house nearly always results in buyer’s remorse. With this large of an investment, you want to be sure you know what to look for when buying your first home to prevent this devastating feeling. Before you even start looking around, make a list of what you want and need so you are not emotionally driven to make a rash decision.
Next, look for options to be pre-approved by a local bank. This is important because you can get an idea of the amount you will be approved for. By knowing how much you can afford before you even start looking, you can easily avoid the temptation to look outside your price range. You can also use your pre-approval as a bargaining chip to bring the cost down to within your budget if you tell the seller you know you will have a certain amount available to you. Sellers like sure things.
Location, Location, Location. The next tip in knowing what to look for when buying your first home is to consider the environment in which the house is located. You probably will not enjoy the train tracks behind the property when a train is passing through town. Freeways are loud at nearly all times of the day and night as well. What does the property look like at different times of day? Is the neighborhood safe? What schools are available for your children to attend, and how do they rank in terms of quality? Are there any prime amenities like golfing, clubs, trails or other things you could make use of?
Last, you need to know what to look for when buying your first home in regards to the agreement that is made on the property you want to buy. Never count on oral agreements. Instead, get everything in writing to avoid a legal battle. Nothing can be misunderstood or argued when it is all down in black and white.