In our previous post, we listed out some advice for first time home buyers, so we will be posting the concluding part.
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.
Research Neighborhoods for Best Fit
After you’ve found some homes for sale in your price range, be careful not to make a decision based on the property alone.
Be sure to carry out a neighbourhood survey, ask questions and draw up your conclusion. So make sure you factor neighbourhood quality and location into your decision.
Ask your real estate agent for information on crime rates and the quality of schools around your prospective neighbourhoods.
Draining your savings
Spending all or most of their savings on the down payment and closing costs is one of the biggest first-time homebuyer mistakes.
What to do instead: Aim to have three to six months of living expenses in an emergency fund.
Use an experienced realtor who knows the area and the market.
Your realtor can make or break your home buying experience. If you know where you want to live, try and get a realtor referral.
So start by asking friends, family or friends of friends who live in your area of interest for recommendations.
“A good realtor has knowledge of the area — a great time saver — and more important is his or her ability to listen and execute what you are looking for,”
FutureX Properties is your go-to realtor for anything land and house matters. We want to do business with you.
You can reach us on our social media pages if you have advice for first time home buyers.