How to Buy Your First Home.
As a couple, one of your dreams is to own a home together right after the wedding! That’s if you don’t already have one! Sometimes couples who want to have a big family later on sometimes settle on a rented home.
Buying a new home could be a first time experience for the both of you and it shouldn’t be taken lightly as it is one of the most expensive purchases the two of you will ever make. That’s why it’s important to research and make all the right moves when preparing for, searching for and ultimately buying a home.
To help you cautiously and safely move toward buying a home, here are certain steps you can follow.
Do your homework
Once the both of you decide on your preferences on a home, the next step is to do critical research on which homes fit your requirements as a couple. Today’s internet makes this task much easier than it used to be in the past. Be sure you don’t forget about having a home inspection done. I recommend touching base with the people at http://outstandinghomeinspections.com
There are hundreds – if not thousands of real estate listing sites that collect information on homes for online viewing. Pictures of the property, its complete location, amount of yard space and internal floor layout and space are available for viewing.
Set priorities straight
Unlike buying a car or an air conditioner, getting the wrong home in the wrong neighborhood is a decision that will hound your family for years. Therefore, your next step is to know your priorities, like doing this advanced background check so you know who is living in your new neighborhood. If you’re expecting a big family, then you’ll want a multi-family home, while single couples with no kids yet will prefer a smaller abode. When you have the home inspection done you want to make sure the heating and air conditioning is checked thoroughly because according to
A & H Heating and Air Conditioning this can be a huge expense.
Equally important is the kind of neighborhood you’ll be in. Do you need to stay near the cosmopolitan area where short commutes to a good job and school is available? Is it okay to stay in the suburbs with low property taxes? Asking these questions will narrow down your search quickly.
Financing your home
To finance your home together, you will need to pick between two options. First is to purchase the home outright if you have the means. That is not an option for most of us. Thus the second option – obtain a loan. Checking various home loans solutions from NPBS or other providers will give you the leverage you need to acquire the home you want. The good thing is that you can set up and select the home you want online and even set up meeting with the service provider.
Traditionally, lenders need a down payment of twenty percent of the host of the home. In some cases, they will grant you the home for a down payment of three percent if you have a good credit history, so keep that in mind.
- As a first-time buyer, you may probably look to move again in the future, in which case you need to think whether a property will be saleable.
- If you already have a mortgage in place before looking for the house you want, reading the terms carefully can help you in negotiations.
- Find limited time home loan offers online.
That’s it! I know it can be overwhelming but, using these tips can have you well on your way to buying a new home. Our experience was easy and painless and I hope yours can be too.
If you own a home, was buying it an easy or difficult feat?
Let me know, til then–cheers m’deres!
Nancy Polanco is a freelance journalist and editor of lifestyle blog Whispered Inspirations. A social media junkie, a travel-lover with insatiable wanderlust and an aficionado for fun gadgets, good eats, and entertainment. You can find her on Instagram and everywhere else under @WhispersInspire.