Are you in the market for a new home? Do you know the first thing about house hunting? Do you even know where to start?
These questions are essential when you start hunting houses. Houses are a huge investment and they entail a long-term financial commitment. For this reason, it is essential to buy a house that meets all, or most of your needs and preferences. With that said, as a homebuyer, you must first evaluate your needs and put it down in writing. Create a checklist of features you want in a house as well as a list of things you don't want in a property. In doing so, you will be able to properly evaluate each home you visit. Listed below are a few more house hunting tips for first time homebuyers.
Evaluate Your Financial Status: This must be the first step you need to take before you start looking into the available houses. Examine your expenses and your monthly budget to have an idea of how much you can afford. Financial experts advise homebuyers to spend no more than 28% of their gross monthly income on their home loan, taxes and insurance.
Determine What You Need And Want: Another tip is to determine what type of home you want. There are a lot of options you can choose from, including single-family home, townhouse, commercial properties, and so on.
- Do you want an open floor plan?
- Do you want a two-story structure?
- How many rooms do you need?
- How large each room should be?
Choose The Right Location: The location of the property is one of the most crucial factors which you need to take into consideration. When choosing a property, you must consider its distance from the highway, from shopping centers and grocery stores, and from schools. In addition, you must also determine how far the police stations are located from your property as well as the fire department and hospitals.
- Are there any high quality schools near the area?
- Are the hospitals and churches near the property?
- Are you basic needs accessible?
Find A Family-Friendly Neighborhood: Aside from finding a property with a great location, you must also evaluate the neighborhood. You must determine whether the community offers a safe living environment for your family. You must observe the neighborhood and see whether there are families and children. Check out the crime rate and other negative reports about the neighborhood. In doing so, you can determine whether the neighborhood is conducive for your family.
- Is police presence noticeable?
- Are there any playgrounds or child-friendly establishments?
- Are the streets well lit?
Get A Home Inspection: Before closing a deal, you must first have the property inspected by a professional. You can perform an initial inspection on your own since there might be obvious signs that needs repair. However, it is beneficial to bring a credible home inspector so that you can determine which areas of the house needs fixing and how much it might cost.
These are just a few practical house hunting tips that might help first time homebuyers. These tips will help you evaluate the houses you visit so that you can make a sound decision.