The decision to purchase your first home is one of the biggest and best choices you will ever make. After all, a home is the largest – and most emotional – investment most people will face in their lifetime. So, how do you know if it’s the right time for you to buy?
There is never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances.
A home purchase is an important step that can provide many advantages. Purchasing your own home is a great investment that can deliver several financial benefits – equity build up, value appreciation, automatic savings plan – not to mention a new sense of pride!
Start looking at your options today. You don’t have to know everything. Pick a real estate agent who is ready to help you through every step of the process.
When you’re looking for a real estate professional to help you, know that above all else, good agents put their clients first. This is your dream, and your agent is your advocate to help you make your dream come true.
A great real estate agent will:
To make help make the financing process as painless as possible, ask your agent to introduce you to the preferred financing consultant if you don’t already have one you work with. This professional will work with you and your agent to make sure the financial aspect of your home purchase is stress free.
What will the consultant do for you?
So you’ve met with your trusted advisors, and now you’re ready to begin your search. But how or where do you start? There are a lot of homes out there, and diving in without a guide can become overwhelming and confusing. Your agent will help you more accurately pinpoint homes that fit your criteria. The right home will meet all your important needs, and as many of your additional wants as possible.
Some questions you might ask yourself include:
Once you’ve found a home you love, the next step is deciding on a price. It’s important to remember that a home is an investment. Your agent can give you information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to price. Look to your agent to explain and guide you through the offer process.
Some things to consider when deciding on the best price point are:
Your agent will direct you to professional that will provide you with improvements and challenges within your home. Such as a home inspection. This way you’ll know what you are getting into before you complete the purchase.
Knowing what work has and has not been done to your home is important information to have in the buying process some of this information will be on the seller’s disclosure is one is available. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction.
Very often a problem appears to be big, but can be fixed with very little effort and not a huge budget. A good agent will help guide you through this whole process.
Once you’ve determined a price point you’re comfortable with, you’re in the “home” stretch! But, in-order to ensure that you don’t put the property purchase at risk, you have a couple responsibilities that you’ll need to keep in mind:
Congratulations, and welcome home! The home-buying process is complete, which means it’s time for your maintenance plan! It’s now your responsibility, and in your best financial interest, to protect your investment for years to come. Performing routine maintenance on your home’s systems is always more affordable than having to fix big problems later. Be sure to watch for signs of leaks, damage and wear.
And remember, just because the sale is complete, your relationship with your agent doesn’t need to end! After you buy, your agent can still help you – providing information on the real estate market, finding contractors and repair services, and even tracking your home’s current value.