Let’s face it, the first time you do anything, you’re probably getting a lot of unsolicited advice, especially when you’re buying a home. You might be getting tips from everyone from your boss to your mailman to Great Aunt Martha. Some of these tips may be incredible, so don’t altogether ignore them, but do keep them in perspective. People give you advice based on their experiences. Their experiences were probably largely dependent on some of the choices they made when buying their first home. The best advice is to do your own research, work with a trust real estate professional, and consider the following tips.
Real-Life Tips For First-Time Home Buyers
- Location over everything
- Don’t be afraid to be some work into it
- Pay for a thorough, deeper home inspection
A lot of first time buyers make the mistake of thinking that if they really love a house, they will get used to the fact that it’s thirty minutes away from where they’d really like to be/ forty minutes from their job/ an hour from their family. Some may find this is true, but the vast majority end up with buyer’s remorse. If you feel far away and isolated from your friends, family, and preferred area, the fun of your dream home won’t last long. You have several choices – you can wait for a dream home in the area you prefer to come on the market, or you can buy a home that is not quite your dream home and put some work in it. Either one will probably leave you feeling more satisfied, especially when your friends and family can frequently visit and your commute to work isn’t far. If you’re already used to living hours from family and a long commute to work, this may not affect you.
Most first time home buyers are not millionaires – which means they are probably not going to be able to buy the biggest home on the market that has been completely remodeled. That’s okay! Embrace a fixer-upper, but know when you’re over your head. Some things you can certainly do yourself (paint, have new floors put in, repair a porch or fence) but serious issues such as structural problems or foundational issues you probably want to leave alone. Many people don’t have a lot of time to do all the little “touch ups” on their home and that means they sell as is: needing paint, new carpet, new windows, etc. This can save your significant money, especially if what the home needs are aesthetic touches only. You can surely live in a house and slowly paint it to save $20,000! Be flexible – not every home you encounter will be in perfect condition. Be openminded and consider if you can fix the problems.
While you don’t need a home in perfect condition, be aware that some people patch over problems just enough to get a home sold, such as a leaky basement or roof. This could result in you needing to pay thousands upon thousands and your homeowner’s insurance may not pay it. Sometimes it’s a good idea to hire your own inspector – especially if something seems like it might not be quite right to you – and get a really thorough inspection of your would-be home. You’ll be extremely glad you did if an issue is found that is expensive to fix.
Are You Thinking of Buying a Home in Dubois County?
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