Dreaming about owning a home can be intoxicating especially now that there are numerous home flipping shows that makes owning one look like a walk in the park. When it’s time to make a down payment for a home, it can be challenging for first-time homebuyers especially when they come to understand that it is not easy to get their dream home without doing several renovations and not regretting it in a couple of years.
To avoid such situations, first-time buyers should weigh all of their options carefully. After thinking about all of the following factors, you’ll be well-prepared to make a choice on a property that feels like home today and for quite a long time to come.
First things first, you need a home that you can afford. There’s no sense in concluding that you should have four rooms when the most you could afford in your market is two. Start doing your research now based on what your current real estate market looks like, and afterwards consider the initial instalment you would be able to put down for a property alongside your current financial status. It is always helpful to consult with a realtor, or a real estate agent, so you can have a realistic idea of what you may have to spend and what you can spend on your new home.
BEDS, BATHS, AND SIZE
With the possibility of growing your household in the future, you should know how much space you need based on what your current household looks like. Also, you should consider if you’d use your space for work (if you work from home). That means you’ll need more space for your home office. If you want an open area like a garden or want to keep pets you would definitely need a larger space. After putting all these into consideration, figure out the number of bedrooms and bathrooms that would be comfortable for you in the home you want to buy. It would be an advantage for you if you can try to come up with some parameters for square footage.
When you understand your fundamental necessities for a home, you can start thinking about the extra features/amenities that you’d like it to have. some of these amenities can be nice to have and while others could be necessities. Consult with a realtor/real estate agent before you conclude on what amenities you need and are absolutely necessary, although some of these necessary amenities most likely would come with the property when bought/rented or they can easily be added.
LOCATION IS VERY IMPORTANT
As a smart home buyer, you need to think beyond the now which is your immediate reconcilable needs. You need to consider some factors such as how close your home is to major roads and if that is a good or bad thing for you, traffic conditions how close is your job and are there other job opportunities or thriving industries nearby? would you like to be closer to the parks? recreational centres? shopping malls? and so on. Just have it in mind that you cannot really change much about your neighbourhood unlike your home, but you need to understand that when you’re buying a home, you’re also buying a neighbourhood in a way. Conduct comprehensive research on what the neighbourhood of your choice is like, find out the pros and cons, and understand how that would affect your living conditions.
FOCUS ON WHAT YOU CAN’T CHANGE
You see a property and fall in love with the kitchen, but if there aren’t enough bedrooms or bathrooms in the home, then you may regret the purchase soon after you move in. Try not to let your love for one section of the house cloud your vision for your home. don’t just look at the finishes, try to look beyond that and focus on things that are fixed and can’t be changed, for example, the lot size or the neighbourhood where the property is located. When you’re viewing a potential home with a real estate agent, give the agent your rundown of the mandatory requirements and inquire as to whether the house could fit that list maybe with a little work. Consulting with a realtor can help you know if how sustainable your house is and if it could transform into your dream home in the long term based on the benefits it offers currently
IS IT WORTH THE BARGAIN?
Your real estate agent can help you understand whether the condition of a home is worth your money or not. Agents have seen homes at different times, and in different conditions, they can tell you what issues ordinarily would emerge in homes and whether the house you’re thinking about maybe in danger of showing at least one of those issues.
Finally, after considering all these points, you’re in a good place to start your home search whether you’ve purchased a home in the past or not. Just ensure that you have a list of what you’re seeking with your preferred location, budget, amenities and so on, then you go ahead and consult a real estate professional so that they can assist you in moving to the next step toward your homeownership dream.