Buying a home is an exciting time. After all, you're purchasing a home that will be with your family for years to come. Unfortunately, it's very easy to get sidetracked and lose your view of reality when you see that dream home. Luckily, you can make home buying a lot easier by following these three tips:
1. Know Your Expenses
Perhaps the most valuable tip is to know your expenses. The monthly mortgage bill might be within your budget, but the rest of the expenses might not be. This is why it is incredibly important that you factor all expenses into your budget to determine if you can afford the home. Aside from your mortgage bill, you'll be expected to pay taxes and insurance. You'll also need to pay for utilities. If you don't know what to expect to pay for utilities, don't worry. You can often call the utility companies and they will happily give you an estimated cost of utilities for the home.
If the home needs any upgrades, you'll need to factor those into your monthly expenses too. Plus, don't forget about your commute. If the home is farther away, you'll need to add in the cost of gas to commute to and from work. The same goes for school and extra activities, if you have children.
It might sound a bit daunting to do all this research, but it's important. After all, you don't want to buy a home only to discover you cannot afford all of your basic monthly bills. So take some time to do this, before you put a bid in. You can check out this go to website for more information on new homes.
2. Know Your Funding Options
Another helpful tip is to know your funding options. If you are like most people, you probably think that the only option you have is a home loan. However, there are many other funding options available for home buyers. You might qualify for a grant and that can save you a lot of money. There are grants for specific types of homes, such as rural homes. There are also grants for professions, such as farmers and teachers. Although you'll need to do a little research, a grant can help you save money. It can also help you purchase your dream home, especially if it was just out of your price range.
3. Don't Buy a Home For The View
Finally, don't fall in love and buy a home just for the view. Unless the home comes with the land, you could be disappointed. New developers could come in and build a new project at any time, which could completely obscure the view you fell in love with. If you truly love the view, talk to your realtor about buying both the land and the home. This way you'll always have the view you love.
It can be easy to get swept up in the romantics of buying a home. However, if you want to truly get the home of your dreams you'll need to patient and smart. With these tips and a good realtor, you'll be well on your way to finding a home that speaks to you.Share
15 March 2017
Although I've never worked professionally in the real estate business, I sure know my way around it. How, do you ask? Well, I have simply rented a lot of different places and worked with a lot of different landlords and real estate agents. In the past 7 years I've lived in 11 different houses or apartments, none of them my own. In finding those 11, I have looked at literally hundreds of apartments. I used to hate house hunting, but now it's kind of fun. You just need to know what you want and the right questions to ask. Hopefully this blog can help you learn some of the tricks of the trade from another renter like yourself.