Buying your first home is a huge investment — which is why you should be careful when making this decision. Following are some things to keep in mind when shopping for your forever home.
Start with online browsing.
Don’t waste precious time visiting dozens of possible houses one by one. You can check with platforms such as Land Price List, to see homes that are realistically within your goals and budget. With it, you can specify your search to an area, number of bedrooms, size of the house, and cost of the property.
Limit your budget.
Know how much you’re capable of spending on this home after applying for a loan. The question here is: how much would you be borrowing? How much would you pay-per-month under this loan? How long do you have to complete payment?
Try to figure out how the monthly payments would eat into your monthly income and if there are options to pay in advance or credit extension in the event of problems. Never buy more than you’re capable of paying.
Know the history of the house.
Is the home brand new or already owned by a previous family? Find out the history of the home and many changes it underwent before being ready for selling. Have an independent professional check the place if necessary. Make sure that the beams, roof, floor, and other structures are still intact.
If you can prove that the house needs substantial works, you can try bargaining with the seller.
Ensure the location is optimal.
Of course, don’t forget to consider the location of the home. Ideally, it should be close enough to various facilities so that you won’t spend hours on the road. Bear in mind the location of your place of work and the school of the kids since these are the travels you’ll have to do on a daily basis.
Thinking about buying a home where you’ll raise your family? Make sure to keep the above tips in mind.