Home Home Buying Tips
First Time Home Buying Tips You Need to KnowThursday, January 26, 2017 Mary Anne Velasco
Ok..so you may finally be at the point in your life where you have saved up enough money for a down payment on your very own home. You may be purchasing a single-family home, an apartment just for yourself, or a condominium unit. Whatever it is that you are purchasing you are going to need some help to keep your sanity along the way.
Here are a few tips for getting through the first-time home buying journey:
Hire a Trusted Estate Agent
This may seem like an obvious tip but many people attempt to go it alone to cut costs. This is not a great choice when you are a first-time home buyer. You will undoubtedly need the guidance of an experienced and trusted realtor to advise you and to get you through the entire process.
You will also want to have your own buyer’s agent so that once you are ready to make an offer, your estate agent can do all the negotiating on your behalf.
This is especially beneficial to those who aren’t too familiar with or comfortable with the fine art of negotiation and closing the sale. If you feel that this aptly describes you, hiring a realtor is a non-negotiable.
Another reason it’s better to go with a professional is that you will be able to reap the benefits of their expertise and knowledge of the local markets.
An estate agent can provide you with demographic information, home sale information in the neighborhood and even on the street that you are interested in so that you can make the best decisions regarding location.
An estate agent will know if a home is overpriced for its area. These things bring you value and peace of mind when it comes to the entire home buying process.
Get an Independent Assessment of the Property
Once you have decided on the home, apartment or condo that you are going to purchase there are still many things that you will need to do before making the property officially yours.
You will want to have your realtor order a home inspection by an independent third party inspector or source. The home inspection is usually part of the legal process in most areas and really will depend on where you are planning to purchase.
In addition to the home inspection, you may want to consider bringing in a local structural engineer if you are purchasing an existing home or property. You can save yourself the headache of purchasing a home with foundation issues, and other structural issues that could cost you thousands down the road.
Ensure You Have Researched Your New Town
You should also consider doing your own research regarding the area that you are interested in living in. Check out the area to ensure that it matches your own personal style and that it has what you are looking for in a town or city that you will be laying down roots for a while. Check out local businesses in the area, if the area is easily commutable to where you work and like to hang out. Remember, purchasing a property is a long-term investment. You should be happy with where you are living!
Congratulations on your new place!