Buying a home is a big decision, and if you’ve never done it before you can feel quite overwhelmed with the wealth of information available. The truth is that no two first-time homebuyers are alike, as everyone has different needs and expectations for buying their first real property. You know you want a place of your own; you just aren’t sure where to start looking. So let’s take a look at some need-to-know basics for those entering into home-ownership.
Know What You Want
With so many different types of property on the market, you’ll want to do a fair amount of research before you even get started. Most people start browsing homes well before they’re ready to buy, so you probably have a good idea what you want. It’s great if you can take the time to write down a list of your desires, and then another list of things that you just can’t live without. It’s also a good idea to know where you want to live, or if you’re not picky about location, to at least know what types of surroundings you’re looking for in a home.
Before you go any further, visit with your financial institution or broker to find out what your price-range is.
Find a Real Estate Agent
When you’re looking for your first home, you’re going to want to find someone who you trust to represent you. Ask around to see if your friends and family have any recommendations to find someone well-suited to your needs.
Have fun while you’re looking at places. Be realistic and honest about how each place stacks up verses your expectations and desires. When you’re done each viewing, take a family vote on how much you loved the place on a scale from 1-10. What aspects did you like best? What do you think is a potential problem? When you have seen a number of properties that you like, go back to your top three and see them again.
Create an Offer
Once you’ve decided on a place that you love, work with your real estate agent to create and submit an offer. Don’t be disheartened if things go back and forth a few times. This is the nature of the beast. Rest assured that your real estate agent is working with your best interests in mind to get you the place that you deserve. When everything is said and done, you’ll pay a decent price for the starter home of your dreams.