Buying your first house is a big decision. You want to make sure you make the right choice and know what to expect once you buy it. A valuable guide that will help you in buying your first home is important to have on hand. With that said, let’s jump in.
Budget
The first thing you will need to do is determine your budget. Estimate the amount of money you have saved up for a house and search for areas with new homes for sale to know the market prices in different areas. You should also sit down with any person who will be living in this home to help in decision-making. Involve all the people that have invested their money towards this project. Once you have found a few houses in your price range, it is time to look at the details. You want to ensure the home has the proper structure (i.e., no leaks or cracks). It should be clean because nobody wants to live in a dirty environment.
Interior
When you start looking at details inside the house, here are some items you need to check out:
Countertops & cupboards - consider if they can be wiped down with ease. Look whether they have enough storage space. Check the condition of the appliances. If they're old, consider repairing them before moving into the home. Also, take note if there is a dishwasher, garbage disposal, and oven. These appliances will save you time and effort in the long run if they are available.
Exterior
After checking out all those details inside the home, it's time to look around outside. It doesn't matter how nice or updated any interior might be if there isn't proper landscaping (i.e., grass). Exterior maintenance, like painting, is important as well. Ensure that there is at least one working entrance door on each side of your future abode.
Closing Costs
Do you think your future home meets all these requirements? If so, congratulations! You are one step closer to buying your first house. Now it is time to look at closing costs (i.e., title search & insurance) and what fees must be paid before moving into this new place (i.e., deposits for utilities, etc.). Make sure that all these fees are within your budget. It is best to look at them early on to get a better idea of the much needed for this step.
After settling out all these details, it's time to close. Depending on where you live, closing dates can sometimes take up to 45 days. You don't want any surprises during this period, such as eviction, because some unexpected repair wasn't done. Make sure you have enough money set aside for an emergency fund just in case. Don't forget about saving receipts. If any repairs are necessary after you have moved in, it is vital to keep all proof of payment for those repairs.
