The decision to buy a house is personal to you and your family. It requires thought, time, money and energy. That’s why we are here – to provide the key steps to starting this journey. Are you ready to unlock the door to your dream home? Let’s get started!
It’s important to do your homework and consider a few things before making your first home purchase:
- Identify your wants and needs. To clarify: your “wants” are your wish list of items that would be nice, but aren’t deal breakers. Your “needs” are things you really need to seal the deal.
- Are you ready to settle down in one place for five years or more?
- Are you financially ready? Consider your credit score, savings and determine how you will afford your first home. A mortgage calculator like the one below can help you visualize the financial commitment. Also consider costs to maintain your home after purchase.
- Are you on a strict timeline to buy a home, or do you have time to browse before committing?
- Do you know where you want to live, and what features you are looking for in your new home? A real estate agent can help you sort through your thoughts and ideas. Decide on what is non-negotiable and what is flexible for you and your family.
- Know the housing market, especially if you’ll be selling your current home simultaneously. A real estate agent can provide great insight.
- What is your timeline? Do you have flexibility for when you need to sell, or do you have moving deadlines?
- Know your finances and potential risks. Will you have to pay multiple mortgages at one time? Or temporarily pay rent before purchasing your new home?
Once you consider each of these factors, your next steps will be to research and find a real estate agent to help you find the perfect home for your family’s needs. Learn more about the home buying process and how a real estate agent can be an asset, and contact our team when you’re ready to get started!