Buying a home is one of the most exciting and stressful things a person will do in their lives. For 30% of new homebuyers, the main reason they buy a new home is because they want to be the owner of their own home. Many first time homebuyers are looking for single family homes. While the process of buying a new home can be stressful, it does not have to be. Some people even enjoy going to open houses and seeing how people decorate their places. If you are about to start the process to look at homes for sale, there are things you can do to make the process go more smoothly.
- Look at your finances. Take a good hard look at your finances. Experts say that you should not end up spending more than 30% of your income on your mortgage. Look at your bills and what money you have coming in. If you write all of your spending down, you may be surprised at where your money is going. It is important to make sure you have enough coming in to cover your mortgage and any other fees such as insurance.
- Get your credit score. If you have not done this already, you should get your own credit report. The last thing you want to do is go to a bank or other financial institution for a loan for one of the single family homes that you may want to buy and learn something about your credit that you did not know already. If you have issues getting a loan from your bank, you may want to go to a credit union. They are often in a better position to say yes to people when they are looking to buy their first home.
- Look to the government. There are a lot of programs out there offered to help first time home buyers get their start buying property. If you are not sure what your options are, you can look at this Bank Rate piece that outlines a number of the programs that are available.
- Get a good local realtor. While many people who are looking at single family homes start with an internet search, nothing can really take the place of a good, local realtor. An experienced realtor can walk into a place and know what it should sell for. They will be able to take your criteria for what you want in a home and your financial situation and show you homes that are both in your price range and have the amenities that you want. It is hard to overstate how helpful they can be in your search for a new home. They also have access to real estate resources that you will not be able to get any other way.
- Decide what you are looking for. When people are trying to find a new home, about 63% of people who were asked about what they are looking for in a home and they say that they would be willing to spend more if the home is in an area with quality green spaces. Another 34% say they want a place that has good shopping and 33% say they want decent cultural venues. You need to know before you start looking at single family homes what you need in a new home.
- Check out neighborhoods you like. If you are looking to buy a place in the area where you already live, you should spend some time walking around and checking out the neighborhoods that interest you. Do not just do this once. If you are looking at single family homes and you really like an area, make it a point to look at it on different days and at different time of the day. A neighborhood can look great on a Tuesday morning but turn sketchy on a Saturday night. Ask about the schools in the area. Even if you do not have children, good schools will raise the value of the homes in the area.
Buying a new home does not have to be a painful process. Following these steps can make a difference in the process.