Looking for your very first house can be exciting yet overwhelming. There are a lot of factors to consider before beginning your search.
The following tips on buying your first houseshould make the experience less stressful:
- Location is everything: Look for a home that’s in a good neighborhood with decent property values. You might also want to be near good schools, your workplace and local amenities.
- Know what you want: Write down the features you must have in a home on one list, then make other lists with features you don’t necessarily need and those you don’t want at all.
- Gather information: Search online for information on recent home sales in your area, and look at the listing price for homes that are currently on the market. You’ll get a better idea of how much you’ll be paying that way.
- Get a mortgage preapproval: Have a lender determine roughly how much you can afford to borrow for a mortgage.
- Take notes: Keep track of the homes you see, and note the features each one has for the sake of comparison.