Buying your first house is the next big achievement after buying the car of your dreams. It is an omen for your happy life ahead. Your house must be the happy place that you come back to after work; it must fill you with comfort and a feeling of home rather than four walls where you rest. Your home is your counterpart, your box of memories. So when buying your first house, you must know what you are looking for.
10 Tips to Get the Most Value for Your Money When Buying A House
You are paying for a house that you see has the potential to become your home.
Here are some tips to get your values worth when shopping for your house:
- Fix your budget: properties can get as lavish or as minimalistic as you want; it depends on what you are looking for and the money you are willing to spend as a luxury. You do not want to enter the market with an open wallet and no idea how much you can afford to spend on this. To fix your budget and keep a margin to accommodate any extra expenditures.
- Start saving: even if you have a sumptuous amount set apart for the house, finally investing that amount may cause you to reduce your expenditure and force you to implement cost-cutting. To minimize the effect of this large expenditure on your lifestyle, start saving so you know where you can cut down on your expenses without causing a lifestyle change.
- Get pre-approved: one way to fix your budget is to get pre-approved for the loan. It is a meticulous process, where they check for your credit card score, past debts, outstanding debts, your track record, and so on. You need to submit several documents and proof letters. It is better to complete this process before you select the house to be ready for the deal. It locks in the budget for your house and prevents you from overspending.
- Type of house you are looking for: once you have fixed your budget, you want to avoid unnecessary exploring of the houses that will not fit your lifestyle. So research the different types of houses to select one that will make you a perfect home. With a big budget, you can go for singular unit houses in different styles: ranch, contemporary, victorian, colonial style, European style. But for affordable houses, you might want to go for apartments, condos, and townhouses. Choose one that will sit perfectly with your lifestyle.
- Fix the location: here, things start to get serious. You want a location that makes it easier for you to travel for work with your car or commute. You want a location optimum for daily-needs shopping in the market, near the main road, and easy for you to spot. If you plan for a quiet environment, stay away from construction sites, factories, railways, and parks that may cause noise. Read More How eCommerce Has Changed Business
- Hire an agent: with all the details fixed, you want to hire a real estate agent/broker to make house hunting easy. Hire an agent with good reviews and recommendations that will prioritize your wants and keep in mind the small details you are looking for. They know your budget and have several houses that you can visit and inspect before shortlisting them. A good agent will let you know if the house is overpriced and will show you more affordable choices. He is familiar with the neighbourhood and will give you more options to choose from.
- Make a checklist: select the items you cannot overlook: number of bedrooms, bathrooms, kitchen cabinets, walk-in closet, storage space, air ventilation, sunlight exposure, number of windows, furnished/unfurnished, essential amenities: water, gas supply. Add to your list what you cannot overlook, and remember to check the list when walking the houses.
- Decide your purpose: when buying the property, it is an investment that will give you returns in multifold of what it costs you today. It would be best if you decided the purpose of the property: will you be renting it out, or renting out a part of it, with you living in the other part? Is it an early investment house or your retirement house? The property will change its characteristics according to the use you will be putting in the future. Look at mason city house for sale for a quiet, off-beat environment or beach houses if you like to surf and don’t mind the crowd that comes at the beaches.
- House hunting: with all the basics, off-field decisions complete, you are now supposed to go out and look at different properties, houses, and locations. Visit as many open houses as you can and all the houses your agent suggests you take a look at; check the walls, roofs, yard, backyard, furniture, basement, attic, kitchen, and such to make sure the house is in excellent condition. Find out the year of construction, the number of families that lived there, renovated, or in need of repair. Give each house a physical and imagine yourself living in the space. If you feel it, you know it.
- Mind over heart: even if you love the house and see yourself existing peacefully, you want to know if it falls within your budget. Do not stretch out your budget to accommodate an expensive, high maintenance feat and looks like a walking expense. Listen to your mind when it says, “we can’t afford that.”
- Bonus tips:
- Negotiate: do not accept the first price that the seller gives you; there is always room for discount and bargaining. Do not miss this opportunity to negotiate your price.
- Visit the place: do not fix the deal at the first visit, but convey your affirmation to the agent and the seller only when you have seen/visited the property quite a few times.
- Stalk the neighborhood: get to know the neighborhood and the nearby area by walking around as you visit the house; you might become familiar with the people and learn more about living in the area.
- Check out other properties to compare: comparable properties mean properties that are similar to the ones that you saw concerning the area, number of rooms, location, and cost. Compare the features and get an idea if it is priced appropriately.
While buying a house is a one-time investment, it is only profitable if you bag the best. With these tips, you will make an excellent purchase of your first house. So go ahead; the house of your dreams is waiting.