Three Things To Consider When Buying Your First Home
Looking for a house is exciting — but it isn’t exactly easy. It will probably feel as if there are a plethora of houses for sale, but none that really suit your needs. For first time home buyers — who make up 32% of people looking to buy new homes — the task will seem particularly overwhelming. It’s hard to know the difference between a want and a priority when it comes to looking for homes. To be sure, many of us looking for houses on the real estate market want plenty of things, but can’t necessarily afford all of them. This means making some sacrifices — or perhaps looking for different types of homes entirely. You can end up spending more time on your house hunt than you would want if you do it all on your own. This is why we recommend using a real estate agent, especially if you’re looking for your first home ever. Real estate agents are professional. Not only do they know how to help you look — they also have connections that you lack. These connections will make it easier for you to find what you want, and in some cases can even get you a great deal. With that being said, let’s look into some tips that will help you find the house of your dreams.
1. Take Advantage Of The Internet — But Don’t Over-rely On It
Once you have a real estate agent, you might feel as if you should wait for them to send you houses to look at. This isn’t the case. You can still look on your own, and the Internet makes this easier to do. There are thousands of houses listed for sale online, and in fact few homes are sold in this day and age without the utilization of the Internet. It’s said that for 14% of new home buyers, the first step in the process was to contact a real estate agent; for 42%, the first step was looking online. We recommend that you definitely contact a realtor, but again, have some fun searching online too. This can help you get an idea of what kinds of homes are available for what prices in your area. But don’t get too addicted to looking at houses online — on average, people who didn’t use the Internet looked at five homes and searched for five weeks, while buyers who did use the Internet looked at 10 homes and searched for 10 weeks. You want to look at a good number of houses; but you also want to get into your new home.
2. Consider The Value Of Location
One of the biggest things new home buyers can get confused about is price versus location. For example, it may seem ludicrous that a tiny apartment in one area can cost twice as much as a big house in another — but the location is what people may be paying for in regards to that tiny apartment. Location can dramatically change the value of your home, which is important to consider if you are thinking about your house in investment terms. One of the reasons why you may want to prioritize location is due to a commute — you’d rather spend money on a house than gas, and you may not want to sit in traffic while on your way home. This may mean living in a smaller home, in some cases — particularly if you want to live in the city. But this could be worth it.
3. Think About The Future
Many first time home buyers are young, childless couples. Some will choose to remain childless — but if you want a family in the future, you may want to keep this in mind when buying. This doesn’t just mean buying a home with extra rooms for future kids. It also means thinking about the neighborhood you’re buying into, as well as the school district. All of this matters — don’t take it lightly.