Skip to main content

5 Basic Tips for Buying Your First Home


The current state of the real estate market can offer a unique opportunity for buyers looking for their first home. Prices have dropped considerably, there are a large number of properties for sale to choose from and the bargaining power of buyers is very high. However, some basic points should be taken into account when buying a first home.

Tip 1: What is the budget?

It may seem like a no-brainer, but it's surprising how many buyers don't start by figuring out how much money they have to buy a first home. It is easy to "fall in love" with a home that has been visited and forget the initial budget, but why waste time looking for homes that are financially out of reach?

pre-purchased building inspection


Before hiring a mortgage, you have to make sure you fully understand the monthly expenses we have, as well as make a projection over time of the income we receive. All factors must be taken into account: the security of our job, the possibility of salary increases or cuts, the mortgage rate to be applied, etc. In other words, it is about analyzing the numbers and finding out if we are going to feel comfortable with the mortgage we want to take out.

Although there will always be unforeseen events, the objective is not to have to worry every night about choosing between paying the mortgage or, for example, undertaking repairs or works that occur unexpectedly. You have to be able to cope with both.

Tip 2: You have to be realistic about what you want the future home to have.

The key here is in the word "realistic." From the budget we have, it is advisable to make a list of what we would like the house we are looking for to have.

Research is helpful in making this list. It is highly recommended to take a look at other houses in the same price range and see what features they have. For example, if we see that the homes we are investigating do not have a renovated kitchen or storage room, it may be logical to think that it will be difficult for our home to not have them either.

In addition, the list can always be updated later if we are lucky enough to find the apartment with everything we want.

pre-purchased home inspection

Tip 3: Carry out a technical building inspection of the home you are going to buy.

The objective of carrying out this building inspection is to determine the state of all the elements of the property: the mechanical systems, the general arrangement and the aesthetic-environmental conditions.

Professional Home Inspection certificates (IPV certificates) can therefore be a decisive factor in closing a purchase-sale transaction. For the first-time buyer, this certificate assures the security that the property that interests them is in perfect condition, or perhaps the possibility of raising a possible discount if there is a defective element.

Tip 4: Understand the true economic cost of owning a home.

Sometimes first-time home buyers are so aware of the buying process that they forget what happens after they sign the contract. In reality, the most common expenses start after you move into the home. In addition to the mortgage payments, you have to pay the corresponding taxes, home insurance, and community fees. But forget about the maintenance problems that arise from time to time.

These expenses are one more reason not to invest every last currencies in the mortgage.

Tip 5: Apart from the house, the neighborhood is important.

Although it is something that few do, it is advisable to talk with neighbors to obtain information about what it means to live in that community. Bad neighbors can affect the value of the property and even turn everyday life into an unpleasant routine.

buying home tips


In short, there is a lot to think about when buying a first home, but remembering these tips can help make the process more comfortable and the objective clearer. Faced with such an important step, we have to take our time, investigate and not let anyone pressure us to buy a house with which we are not completely sure. Contact Exceptional Building Inspection team to conduct pre-purchased building inspection service that will help you avoid additional expenses and to ensure that the house is in perfect condition once you decided to purchase it.

Comments

Popular posts from this blog

5 reasons to book motel accommodations for your next vacation

When it comes to enjoying an idyllic beachside vacation in New South Wales, Albury is the perfect destination. Due to its growing popularity as a holiday destination, accommodation in Albury is easy to find. Today, I will outline some of the reasons why you should consider booking an Albury motel accommodation for your next vacation. 1. They are affordable Compared to hotels and vacation apartments, motels are much cheaper. This is one of the main reasons why Albury motel accommodation is so popular. If you choose to stay in a motel, you will have extra money to spend on other aspects of your beachside vacation. Motels are perfect, especially for travelers on a strict budget. Accommodations at the Garden Court Motel start from as low as $ 128 per night for a queen, $ 173 per night for a king, and $ 200 per night for a 2-bedroom unit; these rates are less expensive than hotel rates within the area. By staying at our motel, you will undoubtedly save on your vacation accommodati

How to carry out efficient truck driving

  9 tips for efficient truck driving Do you want to increase the profitability of your transport company? Efficient truck driving and the best techniques to carry it out Efficient truck driving in the transport sector can be a good tool to improve the competitiveness of companies. Energy or fuel expenditure occupies a leading position in the costs of a transport company, reaching a large percentage of expenses per route. Therefore, an economic driving that reduces said consumption will be directly reflected in the improvement of profitability and competitiveness of companies or self-employed. Furthermore, by reducing fuel consumption they also reduce polluting emissions, which will reduce carbon dioxide emissions and thus improve air quality. To carry out efficient driving in trucks, it is necessary to take into account the characteristics of the vehicle, the driving time, the route to be taken, the load to be transported, etc. 1. Know the characteristics of the truck Yo

Solution To Reduce Accidents In Work Areas With Pedestrians And Vehicles

A solution to reduce accidents in work areas with constant passage of pedestrians and vehicles is the installation of protections and Verge Safety Barriers , which protect pedestrian areas from industrial traffic  and provide maximum safety by absorbing the energy of an impact in case of collision. Unlike barriers and protections made of steel, the risk of rupture is  avoided , since its  flexibility  allows it to absorb the forces of blows and then dissipate them throughout the protection material. In addition, the  special  processed  plastic does not damage the barriers  or the vehicle, and therefore maintenance costs are significantly reduced. Due to their  high visibility, they are ideal to be installed in parking lots, entrances and for the separation of pedestrian areas. Safety Barriers are necessary for protection. When a beam is interrupted, a signal is emitted to stop the danger, according to the process in which it is applied. The main features are: - Security level: define