Advice for first time home buyers.

Omo onile Wahala
Omo onile Wahala
November 25, 2019
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Advice for first time home buyers.

We are giving this article advice for first time home buyers.

Buying your new home comes with many big decisions and it can be as scary as it is exciting.

It’s easy to get swept up in the wind of home shopping and make mistakes that could leave you with buyer’s remorse later.

Considerations Before You Buy

The first thing you’ll need to determine is what your long-term goals are and then how homeownership fits in with those plans.

It could be that you’re simply looking to transform all those “wasted” rent payments into mortgage payments that actually lead to you owning something tangible.

Others see homeownership as a sign of their independence and enjoy the idea of being their own landlord.

Whichever one that works for you is left to you to decide and agree with.

Owning a home is a big commitment, and you want to think and consider a lot of things before buying a house.

We listed out some tips/advice for first time home buyers;

Moving too fast

Buying a home can be complex. Rushing the process can cost you later on.

“The biggest mistake that first-time buyers make is to not plan far enough ahead for their purchase

Rushing the process means you might be unable to save enough for a down payment and closing cost.

Map out your home-buying timeline at least a year in advance. Keep in mind it can take months. Work on boosting your credit score, paying down debt and saving more money.

Making decisions based on emotion

Buying a house is a major life milestone.

It’s a place where you’ll make memories, create a space that’s truly yours, and put down roots. It’s easy to get too attached and make emotional decisions, so remember that you’re also making one of the largest investments of your life.

Emotional decisions could lead to overpaying for a home and stretching your budget beyond your means.

“Have a budget and stick to it, “Don’t become emotionally attached to a home that is not yours.”

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