The Practical Home Buying Guide for First-time Buyers

Couple looking at their new home

Buying a house is a big step for anyone who wants to start investing. It’s a big purchase and involves a huge amount of money. Some people won’t quickly take the plunge if they aren’t ready. To become ready, you should secure your finances first. You should also talk to real estate agents to know your options when buying. Here are some practical guides if you’re a first-time buyer.

Your Finances

The first thing you should consider is the price of the property you’re eyeing. Ask yourself how much can you afford. This includes the down payment and your monthly payment. Think about your other expenses like utility bills, school tuition (if applicable), leisure money, and others so you can compute how much to shell out for buying a home.

With this, take your time when choosing the property you want. Talk to a reliable sales agent so that you get the best deal. Chatting with Putney real estate agents gives you peace of mind because they know what they’re doing in this field. They can also help you make the best choice.

As it’s your finances we’re talking about, make sure you negotiate before the sealing the deal. Real estate agents will be happy to accommodate your requests as long as it’s reasonable. Negotiating allows you to get some price off the property you’re buying.

Condition and Location of the Property

Couple talking to a real estate agentThe location of the property is an important factor when buying. Look for a location which is near to lifestyle centres. Choose areas that are located near hospitals, schools, and other establishments that you regularly visit. A great area to choose is one that is quiet, but not so far away from the city so you can still enjoy the city life unless you prefer the country.

Talk to your real estate agent if there are issues with the property you’re checking out. Inspect the whole house if it’s good condition. Check for signs of mould or animal odours. Check the toilet, heating and air conditioning units as well as the dryer and the dishwasher if all are in running condition. You should also try to see if there are pest infestations to be sure. Newly built houses are likely not to have problems with these.

Every property has special features that become the focal point of the sale. Some have swimming pools while some have a beautiful garden. These properties which have nice extras are more expensive. Choose wisely and choose the property that’s appropriate for your lifestyle and family.

Deciding Factor

As with any negotiations, work only with credible individuals. Choose a mortgage broker who can help you with your finances. Likewise, look for a financial adviser who can shed some light when during this process. Talk to real estate agents who will show you good properties that can become your home.

Lastly, be smart and choose the home that’s suited for your lifestyle. Don’t try to buy an expensive property only to find out months later that you can’t pay for it anymore. Buy only what you can afford. Most of all, buy the property that will make you happy and won’t cause financial problems in the future.

You have a lot to think about as a first-time homebuyer. Put into considerations all the aspects of your life as well as the family members. Decide on the property that can enhance your living situation and won’t put a strain in your pocket.