Getting everything prepared early on will help prevent decisions that could lead to buyer’s remorse.
Making the decision to purchase a home is the first step in becoming a first-time homeowner. The next step is to start planning. Getting everything prepared early on will help prevent decisions that could lead to buyer’s remorse. Buyer’s remorse is a feeling of regret experienced after making a purchase.
Here are some things to get together early in the homebuying process.
Research the Area
Before taking any active steps to buy a home, it is important to figure out where you want to buy your home. Do you have a dream neighborhood? Look into that part of town and research information about it. There are many online resources available that will allow you to learn important statistics about the different areas you are interested in.
Some stats to consider when deciding where you want to move:
- School Systems
- Crime Rates
- Family friendliness
Make a list of your favorite neighborhoods. This will help you and your real estate agent narrow your home search to the places you ideally want to live.
Get Familiar with House Features
You don’t need to be a designer or homebuilder to learn about what features are common in a home. Learning about what is common in the houses you may want, will help you choose your must-haves. Do you love an open floorplan or do you prefer more walls? Some homes have built-in shelving, and some do not. Do you want a large yard? What about a basement? How many bedrooms do you want? How many bathrooms? Is there anything you’re willing to compromise on? Knowing the answers to these questions will help narrow down which houses you explore when you’re ready to walking through the homes you and your real estate agent think might fit your needs.
Look into Real Estate Agents
Real Estate agents are experts at finding homes. Most agents will work through a brokerage company. Do some research on different agents and see if there are any who specialize in the are you want to live in. If you personally know someone who has bought or sold a home, ask them who they used and if it was a good experience. You are trusting the agent to help guide you through the process of a major life decision and finding the right person can be a gamechanger.
Start Saving Money
Buying a home is a big purchase and getting your money together for it is helpful. As soon as you can, start putting a little money aside for buying the home. Even if it is a small amount each paycheck, a little goes a long way. It also helps to do some research on home loans and mortgages. This ensures you know exactly what you are signing on to when getting a home loan as well as what requirements exist for the different kinds of loans. Also, depending on the type of loan you qualify for, you may have to make a down payment. If you need help making a financial plan, reach out to a
Starting early is one of the best actions you can take when buying your first home. Doing research and preparing for the decisions you will have to make as a homebuyer will ensure that you feel confident in your purchase.