For a first-time homebuyer, the decision is both exciting and overwhelming. With so many things to consider and so many options to choose from, one may often feel daunted by the task of buying their first home. Not to mention how stressful and time consuming this all can be for someone who has no experience in purchasing a property.
However, don’t worry because this article will share some important pointers to help you make that journey easily if not effortlessly!
Define a budget and stick to it
When you are buying your first home, you may be tempted to stretch your budget a little. However, there are many other costs associated with home buying process that can quickly add up and spiral your budget out of control. To avoid this situation, it is important to define your budget using a mortgage calculator to get an idea about how much you can afford in terms of down payment and installments over a period of 30-years. Make sure your monthly budget has enough bandwidth to incorporate additional burden of home EMIs. If you find a house that you love but is way beyond your financial means, then you must move on.
Determine non-negotiable pointers
Before you start shopping for homes, make sure you have carefully assessed your values and lifestyle choices. You should know all the important features that you would like to have in your new home so as to make your life more pleasurable than miserable. Once you know the features you think you need, define each of these items on the basis of negotiable and non-negotiable. This simple trick will help you narrow down your choices without compromising the quality of your future home. Knowing exactly what you want is not only important for you but also your realtor.
Use an experienced professional
Hire a realtor for the job who knows the area well and has the experience to strike the right deal. For instance, if you are looking for Irvine Homes for Sale, then ask your friends or family members living in that area to recommend you a realtor they trust. Once you have a few names, quickly run a check on them online to assess their professionalism and work ethic. A good realtor will always be equipped with helpful knowledge about the area and will help you make an informed decision. An experienced realty professional also has reliable contacts for attorneys and loan officers who can make your subsequent steps smoother.
Educate yourself about expected closing costs
Closing costs will not include any personal expenses such as cost of moving or packing your items. They may also vary wildly from realtor to realtor. Some may include the cost of hiring a real estate attorney while others may not. Therefore, understand the closing costs and what they include or don’t include.
These are some very important points that will help you buy a house of your dreams easily!