Buying a first home is a process that needs full preparation and strategy. Although it is a dream come true, people eventually may get sick and tired of searching for the right one. Without an efficient plan people may end up disappointed and hopeless.
Hopefully the following tips will help you achieve great results.
– Establish your long-term goals. What does the home ownership mean to you?
Whether you are sick and tired of paying rent every month or just want a property that belongs to you and your family, purchasing a home is never an easy task.
– Decide on a type of property and specific features according to your family’s needs and requirements. When choosing the dream house, location does matter as well as size and room layout.
– Purchasing a house is a huge investment, so, unless they have significant savings, most people are forced to go through the mortgage application process. Determine which type of mortgage you are qualified for and how much deposit you need. Your monthly income, years of service, loans, credit cards payments and others possible debts will determine the amount of the mortgage you are allowed to get.
– When applying for a certain mortgage amount, make sure you can afford your monthly repayments.
– Visit the property personally several times if necessary. It’s not enough to see the images of the property only on the internet.
– Find out more information about possible issues. Vendors or real estate agents most probably won’t tell you anything about possible problems in the house or neighborhood. Hopefully you can get more details from the first neighbors who are probably eager to find out who is moving into the place next door.
– Decide if you can actually afford the house you would like to buy. All repair works will add up to the amount you will have to invest as well as property taxes, closing costs, insurance, maintenance, utilities…
– Include post-move expenses when planning a budget.
– Hire reputable real estate agent who will be showing you houses/apartments within your price range and according to your preferences. Also, the agent will lead you through the buying process and make the negotiation with the seller easier.
– Hire home inspector who will check safety and quality of the property and if there are some structural issues or some other irregularities. Do not purchase a property without having a professional home inspection. Also, have your legal adviser do all the paperwork for you.
– Try to reach an agreement with the seller and make an offer.
What to do after buying a house
A home means stability for all family members. Now that you have closed the sale and finally have got the keys to your new home, it is time to prepare everything for the moving day.
– Hire reputable NYC movers to help you during the relocation process.
– Change all the locks in your new house.
– Check whether alarm system and smoking detectors work.
– Protect your home from pests before the moving day.
– Deep clean your home inside and out.
– Purchasing a home is a major investment, so do not jump into other debts or loans until you regain your financial stability. Also, owning a house usually involves certain sudden expenses, so make sure your savings can cover them any time.
– Maintain the property regularly in order to reduce sudden repair costs.
– Once you settle into your new home reward yourself for all the effort and hard work. Prepare a delicious meal, spend some quality time with your family and friends. You can even invite some of them to stay overnight.
– You could certainly use some sleep. You don’t need to rush to get everything unpacked, moving boxes won’t go anywhere.
– You will have plenty of time to adapt and get to know your new neighborhood.