Purchasing your first home can be quite a daunting task and is undoubtedly the biggest financial decision you will ever make. Here are a few essential things to consider when purchasing your dream home.
1. Learn more about the suburb you wish to live in
It’s easy to become overly fixated on the type of house we are looking for. While the number of bedrooms, style of kitchen, curb appeal, and desirable extras like pools, etc. are important to keep in mind; we cannot afford to overlook the area in which we wish to purchase. Learn more about the community, get to know the surroundings, explore the local amenities, and ensure that the area is a good fit for your family.
2. Get to know the agents in the area you are looking at purchasing in
Don’t just settle for any real estate agent. Investigate, read reviews, trawl their websites, and contact previous buyers and sellers (if you can). You want to make sure that the agent has your family’s best interests at heart. It also helps if the agent is a resident of the area you are looking at, that way you know they are invested in the well-being of that community and not just looking to make a sale.
3. Understand the basics of a mortgage
When purchasing your first home it’s important to understand all the implications of having a mortgage or a bond, and ensuring that you stay within your financial capabilities. Explore the different options, and find the best value for your money, one can get a free bond cost quote. Realistically, you need to make this fit your needs as a family, don’t overextend your finances.
4. Find the best commercial real estate, lawyer
We often hear of families who have had negative experiences of a legal nature when purchasing their forever home. What should be an exciting and fulfilling moment, can quickly turn bad because of poorly understood or deliberately misleading fine print. It’s imperative to find the best commercial real estate lawyer to help guide your family through this process. People tend to complain about legal fees, but, relative to the cost of most homes, and considering that this is a long-term purchase that will become a sanctuary for your loved ones, it is worth every penny. A good and trustworthy real estate lawyer can assist you with the legalities behind purchasing your home and provide valuable insight as you navigate your way around contracts and sales agreements. Ensuring that you are protected.
5. Look past the cosmetic wants
The temptation to find a home that looks the way we want it to can easily blind us to genuine potential in homes that meet more important criteria; like structural integrity, safety, and neighborhood. It’s also a little unreasonable since the home will probably reflect the personality of the sellers and it’s unlikely that theirs’ is a perfect match with yours. Take a slow walk around and imagine what the home might look like if the colors, the fixtures, the garden, etc. were changed to match your style.
I sincerely hope your journey to purchasing your forever home is smooth and enjoyable.