Tips for home buyers
Here are 8 tips for home buyers:
- Watch your money moving. For three to six months prior to purchasing your first home, it is best not to make any huge purchases, move your money around to different accounts, or open and new credit cards. Lenders are looking to make sure you’re reliable and all of these are red flags.
- Bigger isn’t always better. Your eye might get caught by the biggest, newest, prettiest house on the block. But be warned: bigger is usually not better when it comes to houses. Sometimes the worst house on the block per square foot trades for more than the biggest house.
- Don’t be over emotional. You cannot be tempted by your emotions in every aspect of a home. You might fall in love with certain things, but you’re going to end up heart broken. You may love the yard and wrap around porch, but the lot butts up to a busy mall. Trust your instincts with a home. It’s an investment, so stay calm and be wise.
- Give your house a full check over. Hire a home inspector. This cannot be stressed enough. Spend around $200, but the third-party inspector will let you know about potential thousands if there’s something wrong
- Pay attention to the neighborhood. Before you buy, know where you’re buying. Many homebuyers have realized that they love their home, but find that the neighborhood wasn’t for them. Drive by the house at different times, check the school zones, find out where the nearest grocery store is, and check the crime rates.
- Make a list of items to check: Make tons of copies of a checklist of your must-haves, nice-to-haves and other essentials. Bring them to every home you visit and take lots of pictures. This way you’re making sure the home is right for you.
- Budget for everything: You aren’t just paying principal, interest, taxes and insurance. Figure the costs of utilities, upgrades and repairs, commuting.
- Look beyond the staging: Staging is done for a reason: It works. Homes look far better when they’re staged. Always mentally try to remove the staging. Pay more attention to the layout of the house and the structure itself, because when you buy the home, the staging doesn’t come with it.