Tips For Buying Your First Home
Category Hendra Knows
Tips for buying your first home
Being a first-time home buyer is exciting, but it can also feel overwhelming! Here's how to achieve your dream of owning your first home:
Hire an estate agent
Without an estate agent, you may be spending hours upon hours searching through online listings and visiting open homes that aren't right for you.
Hiring an estate agent will save you time, and possibly money in the long run. Your agent will be your go-to person throughout this process and with years of knowledge, they will be able to guide you and help you find your dream home. They are also often privy to new homes on the market that haven't been listed just yet.
Determine how much you can afford
For most of us, our home is the most expensive thing we'll ever buy. And for most of us, we need one big loan to do it - a mortgage.
Once you have your loan pre-approval, work out how much you will actually be able to afford. Don't forget to add in those extra expenses: rates and taxes, utilities, property maintenance and home insurance.
Remember to avoid creating a financial (an emotional) disaster by preparing your finances before going house hunting!
Think long term
Buying, unlike renting, is a big commitment. Think about how long you plan on living in that new house and determine whether it will suit you in 5 or 10 years.
Will your family be growing or will you need to downsize? Will you need a bigger garden for your children or pets? Will you need to be closer to a school? These are things you need to consider when buying your home.
Keep an open mind
It's important to have an open mind when you're looking for your new home. Make sure you're being realistic for what is available in the area that you want to live in, while also staying within your budget. Remember that many cosmetic items in a home can be replaced pretty easily without spending too much. And it can be fun to have a few small projects to make your first home your own!
Are you ready to take the leap and buy your first home? Contact Hendra Estates today and let us guide you along your journey.
Author: Wayne Hendra