Buying your first home is an exciting decision! When you enter the market as a first-time homebuyer the possibilities seem endless. Even though things like granite countertops and hardwood floors may be high on your priority list, consider these three crucial factors when you are ready to begin your search.
1. Location. This is the one thing you can’t change about your house and a major factor in your home’s resale. Before you start viewing homes, do you your research and figure out what areas are a good fit. How is your commute? Are the local schools up to your standards? There’s lots to consider so working with an experienced real estate agent is a great place to start.
2. Price. This is especially important for a first time buyer because there is no equity to roll into the home purchase. It’s always helpful to get pre-approved before you begin your search especially in a competitive market. Remember that the amount you qualify for is likely not the amount you want to spend. Come up with a firm budget and stick to it so you’ll live a comfortable life.
3. Size. Wanting the 5-bedroom farmhouse with 1 acre of land may sound appealing but is it practical for your needs? Start by thinking about life in a condo vs. life in a single family home. Both have their pros and cons and both have their own set of expenses. Will you have time to maintain a big yard? Can you afford the HOA fees? Many real estate experts agree that you should be able to live in your home for at least five years, and maybe even longer!
More and more ‘starter’ homes are turning into ‘forever’ homes so there’s lots to consider during the process. Let your team of experienced agents at Premier Property Solutions help you find your perfect first home.