Congratulations! You are now financially viable and the moment is ripe for you to make your first house purchase. There it is, the home of your dreams; you grin as you see imagine how you and your loved ones will live there quite happily.
But, wait. Before you take that housing loan or pay off the down payment with your hard-earned income, you need to look at a few matters carefully. Purchasing a house is maybe going to be the biggest investment you are going to have in your life, after all. Not a decision that you could effortlessly back off from when the contracts are already signed.
Some people allow their emotions to control their decisions when it comes to purchasing homes for the first time. These individuals have a tendency to have a blind spot for important matters regarding the house they think is already the home of their dreams. Then, when the dust settles after moving in, they discovered themselves disenchanted and frustrated with their new home.
Thus, here are some points to consider in Home buying guide for first-time homeowners:
1. Consider the neighborhood
At your first visit, a community may appear safe and quiet. If preparing to buy a private property, try visiting the area at different times of the day to see the overall comings and goings in the locality.
2. Consider the community
A community where the neighbors care and look out for each other is a good place for kids to grow up.
3. Consider the structural defects
Viewed from the street the house calls to you to purchase it. Nonetheless, it is still prudent to inspect the house for signs of defects, plumbing issues, or the presence of pest infestations.
4. Consider the space
Considering that most of the time people purchase their first house because they are starting their families, they must make sure that their house is spacious enough for additional family members.
5. Consider the price
Your bank or housing loan institution will assess your personal earnings, credit history, employment track record, your available assets, etc., and based on the information will decide the amount that they will be capable of lending to you. Ensure that you secure a pre-approval of the mortgage so that you are aware if you would be able to afford the house of your dreams.
There is also the exterior maintenance of a home, this usually includes painting and associated preparation for painting, cleaning gutters, cleaning and maintaining decks and walkways, fence repair, cleaning siding, moss and mold removal, weather proofing and so forth.