When you decide to buy your first house, it can be a really exciting time!
Dreams of having your own space and decorating it as you wish compete with the thoughts of the financial obligation and time it takes to maintain a property. Searching for homes online seems fun as you see more and more features you hope to find in your new home.
It truly is a time for dreams as you begin the search, but there is a learning curve to the real estate market. Many first-time homebuyers look at homes that are completely outside their price range without even knowing it. This can lead to a lot of frustration and wasted time if you don’t prepare yourself for the full picture of owning a home.
Start with visiting lenders and checking out your mortgage options. A lender can assist you in establishing your total financial picture, help you realize what you can afford to buy comfortably within your means, and teach you about all the costs associated with buying a home.
You want to avoid the scenario of falling in love with homes that you simply cannot afford and overlooking great homes that have almost everything you want and fit nicely within your means.
Getting a feel for how much insurance may cost is another important factor. Insurance costs can vary widely, depending on location, in regard to flood zones. You don’t want to be looking at the perfect house and then find that the cost of insurance makes it impossible for you to buy.
Sit down and make a list. List all the things you wish you could have in a home – an open concept style, big three car garage, hot tub, you name it… have some fun! Then, take some time for reality to set in and decide what you must have versus what would be fun to have but that you can live without. Decide on the most important “deal breakers” for your happiness. Are the size and location most important to you? The style of the house? Really think about what will make you happy.
If you plan to start a family while you live in this new house, you may want to consider school zones and the number of bedrooms. If you want to have a lot of pets that you must let outside multiple times a day, then maybe an apartment isn’t the best choice for you. Review your list and revise until you feel you have a realistic view of what you want, what you can afford, and what you really need.
With today's market, it's best to narrow things down as much as possible and be fully prepared to make a decision when you actually start looking for your home. For those who have prepared, it most often only takes three to five choices to realize what you can purchase based on all of the above.
When you have done your homework and you are ready to start looking, it is time to work with a real estate agent. Make sure you spend the time to interview a few and find one you feel comfortable with and trust. A good real estate agent can often point you in the direction of reliable lenders and insurance agents they have worked with before.
The agents at KBT Realty
are always happy to work with first-time homebuyers to guide you through the experience. Don’t let buying your first home be a stressful time in your life. With a KBT Realty agent at your side, we can help you find what you are looking for and have some fun, too!
With a mortgage background stretching over the course of eight years and several years of experience in the Real Estate industry, Tyson Emery has proven that he gets the job done. His Real Estate career has allowed him the privilege to work with several clients, which has consistently landed him in the top one percent every year. As an owner along with Kirk Pugh and Becky Brown, KBT Realty has continued to grow by providing an environment to agents that concentrates on training and personal growth. Their philosophy is to figure out what you are good at and help you become great.