10 Things You Need to Do When Buying A Home

Congratulations on taking the first step toward homeownership! Purchasing a house is a huge financial investment, but it’s also an exciting life milestone. While the process may seem daunting at first, we’ve compiled a list of 10 things to keep in mind as you begin your home-buying journey.

Location, location, location

It’s one of the most common pieces of advice for a reason. When considering purchasing a house, think about the long-term implications of the location. Is it in a good school district? What is the crime rate like? How far is it from your place of work? These are all important questions to ask yourself before making such a big investment.

Get pre-approved for a mortgage

This will give you a better idea of how much house you can afford and put you in a stronger negotiating position when making an offer on a house.

Make a realistic wish list

Infographic on the additional financing methods buyers used to purchase a home
By HomeLight Homes

It’s important to be clear about what you are looking for in a home before beginning your search. Otherwise, you may find yourself getting caught up in the emotions of homebuying and making an impulse purchase that you later regret. Prioritize your must-haves and be flexible on the rest.

Hire a buyer’s agent

A buyer’s agent is someone who represents your interests throughout the home-buying process and can help you navigate potential pitfalls. Most importantly, their services are free – the seller pays their commission.

Get a home inspection

A trained professional will be able to identify any major problems with the property that you may not have noticed, which could end up costing you thousands of dollars down the road if left unaddressed.

Pay attention to your gut feeling

At the end of the day, you’re going to be living in this house so it’s important to go with your gut feeling. If something feels off about a particular property, trust your instincts and move on to something else.

Have realistic expectations

Remember that no house is perfect and there will always be some tradeoffs involved in any purchase. Be willing to compromise on certain things in order to get what’s most important to you.

Don’t get too attached

It can be easy to fall in love with a particular property but try not to get too attached until everything has been finalized – including financing and inspections. There’s nothing worse than having your heart set on a house only to find out later that it’s not meant to be.

Be prepared for unexpected costs

In addition to your mortgage payments, there are also other ongoing costs associated with owning a home such as repairs/maintenance, property taxes, and insurance premiums. Make sure you have enough saved up to cover these costs in addition to your down payment and closing costs prior to making an offer on a property.

Don’t rush into anything

Buying a house is a huge decision so don’t feel pressured into doing anything you’re not comfortable with. Trust your gut, do your research, and take your time throughout the process.

We hope these tips were helpful as you embark on this exciting new chapter in your life! Homeownership comes with many responsibilities but also many rewards. Just remember to take your time, be realistic about what you can afford, and stay true to what you are looking for and we are sure you will find the perfect home for you and your family.