Becoming a first home buyer is one of the most exciting prospects in life, but because it is such a huge step, it can also be very stressful. Many people simply don’t know where to start while others become overwhelmed after the process has already begun. However, you can make buying your first home as painless as possible by following a few tips from home-buying experts.
Develop a Long-Term Plan
When looking for your first home, it is important to focus on your long-term plans. Before the recent housing crisis, many homebuyers stayed in their properties for only a few years before trading them in for bigger ones in better locations. The current market, however, no longer allows for this luxury. Today, homeowners often run into difficulties when trying to sell their homes, making it difficult to relocate at the drop of a hat.
One of the biggest factors to consider when buying a new home is size. Although you may have a good idea of the space you need at the moment, you may not be sure about how much you will need in the next five or ten years. You will have to ask yourself some important questions about family goals and future plans.
After size, location is the most important factor you will need to consider when buying a new home. You will want to make sure the home is located near your work and all of the amenities you require. If you are willing to drive to work, is the home near a speedy roadway? If you have children, is the home close to good schools?
Home Renovations and Repairs
Any home repairs needed or renovations desired must be figured into the cost of each home you are considering. Although current conditions will be foremost on your mind, resale value should be allowed a respectable position. Budgeting for repairs at the onset will ensure the home retains high resale value.
It’s a Buyer’s Market
In a buyer’s market, you have all the power. If your requests for the deal you want are reasonable, the seller will work to meet your offer, but it can be difficult to determine what is reasonable.
Hire an Experienced Solicitor
Instead of just reading expert advice on the Internet, hire an experienced solicitor to help you through the process of becoming a first-time homebuyer. A knowledgeable solicitor will not only provide you with a wide selection of homes but will also do all of the tough negotiating on your behalf.