Buying a home for the very first time can be a very exciting moment for you and your family. This isn’t to say that it won’t be without its stresses, too. In fact, it’s still smart to err on the side of caution as you take this huge leap of faith to avoid making any costly mistakes. So without further ado, here are a few things you can do to really get it right.
Connect with a real estate agent.
As you prepare to enter the fray, your most valuable asset throughout this process will be your real estate agent. Michelle Thomas will be your guide every step of the way, and she’ll be able to help you determine the right Florida Gulf Coast property and neighborhood to fit your needs.
Take stock of your finances.
Your first step in buying a home should always be to determine if you can afford a new house. The fact is, it’s not enough to just take your income into consideration or whether or not you can put down an earnest deposit. Rather, you also need to consider other factors like your existing debt and other financial obligations, lifestyle, savings, mortgage rates, and, yes, even the current economy. As you start taking all of these into account, the outlook becomes a little more complicated, but in truth, this step can save you from costly problems that may arise later.
No doubt, probably the biggest and most important consideration is whether you can afford to pay a down payment. However, this shouldn’t deter your decision, as you can still buy a home with little to even no down payment through alternative mortgage options like a VA 30-Year fixed loan, which most military families are eligible for. You’ll find that terms and interest rates are a lot lower than conventional options, which is why it’s a good idea to keep an eye on the day’s updated rates as you dive deeper into the buying process.
Take your time in searching.
Once you’ve established for sure that you have the purchasing power to buy at this time, the search for your home can now commence. The key is not to rush the process because, after all, this could be the most significant investment of your life yet.
No doubt, where you search for homes for sale really matters. This process has been made easier with the multitudes of listing sites that you will easily uncover with a Google search. However, you also have to be cognizant of the fact that not all home-buying websites are created equal, so you need to be able to distinguish the best from the worst.
Even more important as you start your search is knowing what you really want in a home—not only so you can narrow down your options, but also so that you can be absolutely sure that you’re getting real value for your money. This can be anything from location to school districts to features or trends that you absolutely must have in your home.
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Take advantage of a home inspection.
Finally, know that one of the smartest moves you can make as you get ready to close on a property is to have a home inspection. This is something you should not skip, and often for obvious reasons. The reality is you never know what problems might be invisible to the naked eye in a seemingly perfect home, and having an objective home inspector check things out thoroughly for you could save you plenty of money and heartache.
Suffice it to say, buying your first home can often feel daunting, but it’s not impossible! Ultimately, you need sufficient preparation, adequate due diligence, and no small amount of savvy to ensure that you purchase a home that you will love for years and years to come. Reach out to Michelle and the team today to get started. 239-860-7176
Written by Suzie Wilson (suzie@happierhome.net)