5 Tips for first time home buyers
It can be both exciting and scary to buy your first home, as it is not only a big decision but also a big investment. For first-time buyers, the process of buying their first home can be overwhelming and stressful but do not fear, we have you covered with some basic first-time home buying tips to make house hunting a little bit easier.
1. Evaluate what you can afford
Before you start the search for that dream home, you need to evaluate what you will be able to afford and draw up a budget. To avoid unnecessary financial stress, set a price range and stick to it. You may also consider buying below the price range you set, to save on costs and to avoid straying from the budget.
2. Take into account extra costs
Buying a house may come with many other additional costs such as transfer duties, down payments, and move-in expenses. When drawing up your budget factor in hidden costs, as well as home improvements that may need to be made to the house.
3. Be aware of what you are buying and keep an eye out for defects
Ask about any defects in the house as many may not be immediately noticeable and may affect the selling price or conditions of the sale. The seller is obliged to inform you of any defects because once you purchase that property you are liable for any defects. Before purchasing a house, ensure that it fits your needs, lifestyle, as well as your budget.
4. Research the area
When house hunting research the area in which you are interested in purchasing your new home and select a neighbourhood that has amenities that are important to you. It is also important to take into account the proximity of the house to your place of work, schools, shopping centres, etc.
5. There is no such thing as “perfect”
It should be obvious, but finding the perfect home, which has all your desired finishes, wall paint colours and landscaping may prove harder to find than you think, especially in this competitive market. This should not however stop you from purchasing a good home that might not be “perfect” but that may, with time, the correct coat of wall paint, a few house plants, and warm touches of furniture, feel like home.
Happy House Hunting!