Are you looking for the home you’ve always wanted to live in? Are you chomping at the bit to get all your stuff together and start the process of actually owning it? Then we’re here to help you with just that. This article is for those who’re setting their foot in the housing market for the first time. We tell you how to prepare and how to even make the often stressful task of buying a home a little easier on you.
1) Plan your finances
You undoubtedly already know that you need a good bit of money squirreled away to lay down a deposit and the other fees. However, it’s never a good idea to leave these things to chance. Do as much preparation as possible to know what you will paying and what for.
2) Get help in buying your home
There are lots of ways you can immediately take some of the sting out of housing costs. You can check in your area to see if there are any research grants or funding opportunities available for your house buy. There are also organizations that offer initial assistance and loans in buying from them, like help to buy with Avant.
3) Know what you’re looking at in a mortgage
You already know that you’ll be paying a mortgage off on your place, but are you really aware of just how much you’ll be paying? Not only do different places offer different deals, but your credit score has a lot to do with it, too. Use a mortgage calculator to have some idea of whether now is a good time or not to get one.
4) Have a checklist for the home you want to buy
You might see a home that you’ll instantly fall in love with, but don’t let that love blind you. You should always keep a checklist on you. This way, when you’re looking at a prospective new home, you can tally up the points that will really matter to you.
5) Get a home inspector
We don’t always assume that others are out to get one over us. That said, it never hurts to get a home inspector out to check a property. After all, if you’re planning to live in it, you want to make sure it’s worth every penny. You can also do a bit of a DIY inspection, but we recommend paying the little extra to have a professional checking the place out. After all, they might catch things you wouldn’t.
6) Time your buy
There’s no real way to predict how exactly the market might react from one day to the next. It’s a very volatile place and waiting too long can take it out of your price range or out of your availability entirely. There are some days in which it can be a good idea to try buying, but if a home falls within your price range, it’s better to stake your claim than lose it.