Buying your first home can be a daunting task – It’s really not as hard as you think! Here’s a few tips that can help prepare you for your journey in finding your dream home.
1 – Have a list of “Musts Haves”
There’s so many things you can get distracted by when you are searching for a new home. It is important to have a list of “musts” that are important to you and your family. For us, good schools always tops the list for importance, followed by convenient location & a fun local community. It also came down to fine details that had us asking ourself about living in an HOA community or not. We didn’t like the idea of our property being governed by a committee of people that can dictate what you can and can’t do, so we made sure to not look in those subdivisions.
2 – Speak with a financial officer
Just like when you shop for shoes, you gotta know your budget, right? Knowing what you can afford at the interest rate you can get is critical. A tool that I like to use is the Capital One Home Loans Mortgage Loan Calculator.
There’s something to be said for playing around with this because it gives you all the transparency you need to stay within your budget. The new Capital One digital home loan gives the power to home buyers to take charge. Life is so much easier when someone helps sort out the boring part so you can concentrate on the fun part – like searching for your dream home!
3 – Prepare for a roller coaster ride of emotions
Sometimes its not as easy as making as making an offer and signing the paperwork. In most cases, there’s haggling involved and lots of back and forth between agents. Not only that, but you may not be the only interested person who’s making an offer. Before we settled on the home we currently live in, we lost the one we really loved to a higher offer from someone else. Until they place the keys in your hand, anything can happen – learn more by reading more in the what to expect brochure. Be prepared!
4 – Find a good agent
If you’re a first time home buyer, chances are you will need this person to hold your hand the entire step of the way. Lots of agents are commission driven – be sure the one you find is a person who understands you and what you are searching for in a home.. You will be sooo much happier in the long run!
5 – Look for a fixer upper
A great way to cash in on some home equity is to find a fixer upper with minimal fixing to do. Never walk into a home and feel turned off by fixtures and floors you don’t like. Upgrades like new fixtures and paint are relatively inexpensive and its amazing how much a it can transform a room. Plus it’s fun to make your new home your own!
Hopefully these tips will help prepare you for one of the most exciting times of your life. Once you become a homeowner, there’s nothing better than having a place to call YOUR home!
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.