The housing market is currently offering the best deals for buying your first home. It has never been a better time to take advantage of low mortgage rates, low housing costs, and many homes to choose from. Here are some tips for taking advantage of these benefits when buying your first home.
Start Your Search
Decide what kind of home and neighborhood you want to live in. Then start searching. Performing online real estate searches is the best way to begin looking for a home. Browse thousands of home listings, take virtual tours, and view pictures of homes. Check out the neighborhoods that the homes are located in, and be sure to read reviews of the surrounding areas before buying. If you have picked out a few homes that you might be interested, contact the listing agent about a showing.
Seeing a Home
Showings are free, apart from the gas and travel costs. However, do not expect to see twenty homes in a day. You will start to feel tired, cranky, and not remember most of the homes’ details after the first ten. Ask the agent to show you five homes you are interested in buying, and rank them in order of most important to least. Make sure you get to the homes you really want to see first.
Take notes, and pictures, if you are allowed. Think about the details, and ask questions. Look for unusual features, such as design, odd angles, and things that make the house unique. If you see something that might be an issue, bring it up with the agent. Issues such as past electrical problems, plumbing, and a crumbling foundation can be costly mistakes in the future if you don’t ask up front before buying.
How to Buy Your Favorite
Experts argue about the best time to buy a home after a showing. Should you buy the first home that you like that is in your price range, or should you keep looking at other options first? Some good advice is, if you love the home, go for it. The house may be sold right from under you if you wait too long. If you simply must view the home one more time before buying, do it as quickly as possible. Be sure that the house is absolutely available for sale before committing.
If your heart is set on your favorite home, next is the time to sit down and look over a buying contract. Ask the agent to fully explain each part of the contract to you, and gain outside advice, especially if a mortgage is attached. You want to make sure you fully understand the contract and are able to meet it. Buying your first home can be a thrilling, once in a lifetime experience. The process of finding the home of your dreams, seeing it in person, and eventually buying it can never be replicated. Make sure that you are buying the right home for you by doing all your research and asking all of the questions that you can. Happy hunting!