Do Stay Within Budget
Buying a house, especially your first home is a huge deal. Once you start looking at houses its easy to fall in love with granite counter tops and extra space..and that’s fine! If it is in within your budget. Try to keep in mind what you can truly afford each month to spend on a mortgage payment. Also keep in mind that even if something happens to your job, you still have to make that payment regardless. Many of the things you see in many of the homes that are just out of reach are things that you could eventually add to another house yourself.
Do Remember Added Costs
Perhaps you pay $800 a month for rent now. You would like to purchase a home for about the same monthly amount. The difference is that there are added costs such as home insurance, property taxes, and private mortgage insurance that are likely to be worked into the loan as well. Also, as a homeowner if the furnace breaks you are responsible for repairing it, not your landlord. So it’s important to keep your payments at an amount that still allows you to put money back for home maintenance and repairs. Of course then you’ll have moving fees to consider as well.
Do Keep track of your credit
If you’ve been browsing homes online for many months and have a little money tucked away you probably think you’re almost ready to buy a home. Keeping track of your credit can avoid surprises later on. It’s never a bad idea to know your scores, and see if any repairs need to be made.
Do Get Pre-approved
Getting pre-approved for a home loan can save headaches and take a lot of the “unknowns” out of the home buying process. Once pre-approved, you’ll know exactly how much of a mortgage you can afford, and can look accordingly. If you’re new to all of this, and not pre-approved at this point, no worries, I can still work with you. But getting pre-approved is indeed a way to start off on the right foot and get an idea of where you stand financially. If you have questions or need advice just fill out my contact form or give me a call at 330-232-5455.
Do Keep Resale Value in Mind
That may sound crazy. You’ve not even bought a house yet and I’m asking you to think about selling it. Well here’s the thing. When you do find that perfect home, are there other people out there that may in the future see the appeal of it too? Good school district? Neighborhood? Busy street? Crime? Any perks
Don’t Forget A Realtor
A good Realtor can be the best tool you have during your search for a home to buy here in Northeast Ohio and beyond. Realtors work for you. They listen to your needs, wants, and budget..and then help you find the right home for you. But it does not stop there. A Realtor will negotiate on your behalf, write up solid offers and contracts, and be there to offer advice to you from start to finish.
Don’t Give Up
Odds are the first house you look at will not be the one you fall head over heals for. Does it happen? Yes. But not too often. Some people find the perfect home after going to look at houses with me a few times, and others it takes much longer to find that diamond in the rough. So my advice to you is if you’ve been to several homes for showings and have no found “the one”, hang in there. New homes are added to the market all the time. As a Realtor, I have access to information on homes before they show up on the places most people look- yet another benefit of having a Realtor. You could also try making a list of your needs and wants in a house. What can you not live without? What would you like but are willing to go without? This could help narrow down the search.
Don’t Skip the Inspection
It may sound like a wise decision to save the money versus get an inspection. Especially if the home you plan to purchase seems very well maintained but you’ll be doing yourself a disservice. A home inspection offers a unique opportunity to learn about the systems of the home you’re buying, and also gives a clear snap shop of the overall health of those different systems.