Help for First Time Home Buyers

Call a Real Living Team Advantage Real Estate agent first because Buying your first home can be difficult, intimidating and sometimes almost scary. Most first time home buyers need some help and assistance to guide them through the process. The number of decisions you have to make can feel almost overwhelming. This information provides tips for first time home buyers that will make the buying experience easier.  

Understanding Why you are Buying your First Home 

This may seem like an obvious question to some people, but it is important to understand the reasons you have for buying your first property. It may involve issues about wanting privacy, more space, getting married, becoming divorced, making an investment, and various other reasons. If you understand why you are buying, it makes it easier to know what you should be looking for in a first home.

Understand Where you Want your First House

You should narrow down the area in which you would prefer to live based on factors such as preferred travelling time to work, public transit availability, type of neighborhood, proximity to schools, shopping, dining and entertainment, and many others.

Creating a list of these different preferences can help you to decide, and if you assign a priority to each one this will help you even more. If you have a partner, they may also have their own personal wish list and finding a suitable compromise is important.

Know What you can Afford for a First Home Purchase 

You must be realistic in determining how much you can provide for a down payment, monthly mortgage payments, taxes, maintenance, utilities and repairs. From these figures you should be able to arrive at a potential purchase price for your first home.

When you create this home purchase budget (a spreadsheet works great) remember to include an emergency fund of a few thousand dollars, if possible. Like it or not, something usually surfaces that costs money to repair or replace.   When you arrive at your final figure for what you can afford to pay for a new home, you can reasonably increase that number by 20 to 25 percent when actually starting your search.  Our Calculators can help you with figuring your numbers.

Decide on What you Need in your First Property

It is also important to carefully select what you absolutely must have in your new home. List your needs first, then follow these with nice-to-have items. On your list you will have items such as:

• Type of home (e.g. townhome, condo, bungalow, split-level)
• Number of bedrooms and their size, closet space, etc. 
• Number of washrooms
• How much parking space you require
• Is a garden necessary
• Is a deck required

You will of course add other items, and after you do you should assign priorities to them and list them in that order.

Contact Real Living Team Advantage Today for your Real Estate Needs

If you are thinking of buying a home, selling a home, or want to talk with an expert Real Estate Agent with detailed knowledge of Edinburgh Indiana, Franklin Indiana, Greensburg Indiana, Hope Indiana, Nashville Indiana, North Vernon Indiana, Seymour Indiana and Columbus Indiana Real Estate, please feel free to contact us click here. Simply call us at , or info@go2teamadvantage.com us. We'll be glad to talk with you, and help you in all of your Real Estate needs.