Are you getting ready to buy your very first home? If so, you'll be jumping into this challenging process of finding a place that you are ready to commit to for a while. It will help to follow these tips to avoid making any big mistakes when selecting your first home.
Make A Checklist Of Wants And Needs
The first thing you should do is sit down and figure out what aspects of your future home are things that you need and what are the things that you simply would like to have. It will help to have this list finished when you're going into your home search, since you can use it to easily eliminate homes that don't meet your search criteria. For example, you may want a master suite with a bathroom, but don't consider it something that you absolutely need to have. You may want a garage, but consider an attached garage a want rather than a need.
It will help to print out that checklist and take it with you when you visit a home. You can then literally check things off the list as you see them.
Consider The Resale Value
Even if a home ends up checking off all the boxes on your list of needs and wants, you must consider what the home's resale value is going to be when the time comes to sell it. Are there things about the home that would prevent another buyer from wanting to make an offer? The neighborhood that the home is in, the quality of the school district, or even a high crime rate will lower the resale value of a property. It may be worth it to find a home that you'll be able to make a profit on when the time comes to sell at a later date even if it doesn't have all of the things you want.
Always Get An Inspection
Found a home that has a price that is too good to be true, but the sellers are requesting that you waive your right to a home inspection? This is not a good idea since there are many things that could be wrong with a home that an inspector will discover. The inspection is often a way to get out of buying a home if the inspector discovers things the buyer was not aware of prior to making an offer.
Work with your realtor to find out more tips for success when you are a first time home buyer.