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.


Popular posts from this blog

Can I paint my metal roof to alter its color?

Whether you've recently purchased a property with a metal roof or want to change the color of your existing roof for aesthetics and energy efficiency reasons, painting the metal roof naturally stands out as the most reasonable solution for the sake of your time. finances and commitment to living a green life. The short answer is: yes, you'll be able to paint a metal roof. However, if you would like to change the colour of an existing metal roof, it's imperative that you just do it the proper way. Here you have everything you need to know. When can a metal roof be repainted? All types of metal roofs are suitable for repainting, but it should be noted that newly installed metal roofs should not be changed for at least six months as they need time to resist. However, before you paint a metal roof, you should also prepare it for the process ahead by removing mold, grime, and any loose paint that may have been left over from the original paint job. A power pressure wash i

The 4 most common air conditioning faults

When we launch an air conditioner, for most users, understanding the function of all the buttons can be a real ordeal. Imagine how difficult it can be to detect the reason when the equipment gives a problem. At Hogan Hot Water and Air , as experts in air conditioning installation, maintenance and repair, we know the magnitude and inconvenience that these breakdowns can cause. For this reason, so that this does not happen to you, today we are going to talk about air conditioning and its common problems, as well as its possible solutions.  Split air conditioning breakdowns As it is the most common both in private homes and in offices, we are going to focus on the breakdowns that usually appear on Split system . These are the units that have an indoor unit in charge of expelling the already cooled air into the room, and another outdoor unit that takes in the air to cool it down. Once this is clarified, we are going to start with these drawbacks that may be familiar to you: 1. F

How to choose the best bike for children?

The bicycle is surely one of the most popular toys of all. Considering that the bicycle was invented in 1817, it is no wonder that it is such a popular vehicle with us. For 200 years this vehicle has been part of our lives and also that of all children. In fact, the first contact with this two-wheeled vehicle occurs from the first years of life of all children. For this reason and because of the importance it has, today we tell you how to choose the best bicycle for children . There are many ways to choose the best or most suitable bicycle for our son or daughter. The first and most important is the size of the bike that will be related to the age of our little one. You have to know that the sizes of bicycles are measured in inches, which are in relation to the "mm" of the rims. For example, a 26-inch bike has a 559mm rim. In order not to get confused and make mistakes with the measurements of the bicycles, we show you the different sizes of bicycles for each age of the c