Buying your first home is a huge life milestone, and not one to be taken lightly. Before you start the search for your first house, make sure you’re prepared to make this big decision.
One of the first steps in buying your first home is to make sure that you can afford it. Between getting a credit check and getting pre-approved for a mortgage, you’ll have a thorough understanding of exactly how much you can afford to spend on a house. When you speak to a lender to get pre-approved, they can also tell you about any government incentives you may be eligible for.
The home buying process can be a complicated one, and it isn’t something you should try to do on your own! Find an experienced real estate broker or agent to help you through the process. If you’re looking to purchase a horse property, an equestrian specialist is invaluable.
When you start your search, really think about what type of home you want and where you want to live. Once you have those basics narrowed down and begin looking at homes, you need to keep in mind that no home you see is going to be “perfect”. Look beyond outdated appliances and décor that isn’t quite your style and focus on the layout, size, and structure of the house. Walls can always be painted, and flooring can be replaced!
Be realistic about the type of home you can afford. If you’re only pre-approved for enough of a loan to purchase a small, older home on a tiny lot, don’t waste your time looking at McMansions filled with luxuries on huge acreage.
Buying your first home can seem overwhelming, but it doesn’t have to be! Just be prepared, and be realistic, and you’ll have a great first home-buying experience.