Top Tips for First Time Home Buyers

For first time home buyers who are looking to purchase a new property, it can be exciting to begin shopping for a new place to purchase. These top tips for first time home buyers will put you on the path to success in finding a great first home. From the square footage to the amenities, there are several components to keep in mind while finding your dream home. To ensure that you make the right purchase, there are a few key facts to know before beginning the process and making your first offer.

Get a Home Inspection

This is the most critical of the top tips for first time home buyers – whatever you do, do not skip on this tip!! Before you make your first purchase, it’s crucial to have an inspector thoroughly examine the property to identify any areas that need to be repaired or replaced. The roof, electrical wiring, plumbing, and structural integrity of the property all need to be inspected to ensure that you’re aware of the home’s condition. You’ll also want to ensure that there’s not any water damage or mold that is present. Any issues that are discovered can be fixed by the current homeowners or factored into the offer that you make if you’re still interested in buying the home.

Consider Future Home Upgrades

You’ll want to examine the current condition of the home and factor in any upgrades or remodeling that will be needed in future years. The cabinetry may be outdated or the appliances may be on their last leg. If the dishwasher or refrigerator are still fairly new, consider getting appliances insurance to prevent having to replace them if mechanical issues occur after you move in.

You’ll also want to consider the size of the home and if it’s large enough to accommodate your needs in future years. If you’re considering starting a family or having an elderly parent move in soon, these are important factors to consider. The amount of space that you’ll need may be different today than it will be tomorrow. Consider if you’ll need to add on to the home if you have these items planned down the road.

The doors that are in the home may also need to be upgraded based on their overall style and condition. You can enhance the design of the home by installing a sliding barn door to the kitchen or laundry room for a rustic and contemporary theme. The barn doors can also be used as pantry doors for a rich feature that enhances the aesthetics of the kitchen and works as a focal point.

Look at the Neighborhood

This is the second most important of the top tips for first time home buyers. Have you ever heard the saying, “location, location, location?” Your dream home may have everything you need, but its quality can easily be diminished if it’s in a bad neighborhood. Look at the neighbors and visit the area at various times of the day. You’ll also want to determine the distance from the property to your job and if there are local stores or schools in the general proximity. Look around and estimate if most businesses or stores are within walking distance to see if you’ll need to rely on a vehicle to get around.

First time buyers who have a pet may also be interested in living close to a dog park or hiking trails for a great way to exercise outdoors.

Budget Extra Expenses

Although you may have already budgeted the type of home that you can afford, you’ll also need to factor in other expenses based on the property that you purchase. Homeowner’s association fees and homeowner’s insurance should be added on to the overall cost. You should also consider the square footage of the home to determine how much you’ll be paying for the utilities each month. Those who don’t want to do their own landscaping or pool maintenance will also need to add in the cost of hiring someone to perform the work every two weeks. Each of these expenses can influence where you can afford to live and if it’ll cause your finances to be strained.