Buying A Home With Confidence

Home ownership is touted as the greatest investment, and one of the biggest responsibilities, of a lifetime. So it’s no surprise that the buying a home can seem overwhelming and confusing, especially for first time homebuyers. As you wade through the real estate lingo and legal paperwork, just keep a few key points in mind. By knowing what to focus on, you’ll have more control over the entire process of buying a home.

Financial Concerns When Buying a Home

The loan amount you qualify for, and what you can really afford, may be two different things. Take the time to figure out what you can comfortably afford to payout monthly. Make sure you include lawn maintenance, household repairs, tools, and association fees in that number. You will be much better off getting less of a house, and still being able to maintain it, than buying a brand new home and letting it go to pot because you weren’t aware of the true expenses of home ownership. The next step is to clean up your credit and get pre-approved, so that when you do find your dreamhouse you can move ahead.

Wants and Needs When Buying a Home

Spend some time thinking about your desires and future plans. Take a minute to mull over these questions about buying a home:

• How many rooms/space do you need? Will your family grow, or will you move again in a few years?
• What’s your ideal location? Do you want to be in a certain school district? Do you need to be near the city, or away from it all? How important is your commute time to your quality of life?
• How important is a brand new house? Can you afford a fixer-upper (time and money)?Do you want a huge yard to care for?
• What amenities do you need? How important is living in a close-knit community?
• Where are you willing to make trade-offs, and which issues are non-negotiable?

Once you have an idea of what you want it will be easier to spot the right place, and to describe your ideal home to a real estate agent.

Found it? Inspect It! -Before Buying a Home

Do not, under any circumstances, neglect a good home inspection. When buying a home, the inspection can be the most critical step you take. A good inspector will look for mold, water damage, gutter damage, and ventilation issues. But the responsibility will rest on the person buying the home, that’s you, to make sure that the inspector does a good job. Some red flags you don’t want to see when buying a home are water spots on walls and ceilings, growth the walls, or water lines in basements. Water spots will indicate mold, and the basement growths indicate water damage.

Count on Someone You Trust When Buying a Home

Maybe your Dad has a dozen investment properties and will hold your hand through the closing process of buying a home. Maybe you ask friends to refer a competent real estate professional. However you go about it, just make sure that you understand the legal procedure of buying a home. You are making one of the biggest investments of your life, so you should feel confident and happy. Ask a lot of questions, and only work with a real estate professional who answer them fully and happily, and your experience buying a home will be rewarding rather than confusing.

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