There is an awful lot of confusion surrounding the rules for buying your first home. The financial and psychological burden of the whole process can be stressful, painful and downright frustrating at times, so it makes a lot of sense to get as much help as possible during the process. Buying a house comes with a set of rules if you hope to be successful, and making smart, sane decision is an important part of the process as a whole. We’ve put together for you a list of five simple rules for buying a home to keep your sanity intact!
Rule 1: Talk To Lenders Before The Hunt.
Picture the scene: you’ve booked yourself in to see several beautiful homes. You are going from house to house looking for the family home of your dreams and finally fall in love with the perfect house and plot of land. You are determined that THIS shall be your house, so you go to start sorting out applications, only to learn that you will not be able to get the funding for it. Deflated? We would be, too. You need to speak to independent lenders and real estate agents from buyersoption.com so that you can get advice on financing and contracts ahead of time. Learn what mortgages are on the market and are available for you before you get started, too.
Rule 2: Check Out The Neighbourhood.
That house you fell in love with earlier? It may be the most majestically beautiful house you have ever seen, but it doesn’t mean the neighborhood itself is any good. If you’re moving to a new town this is particularly important, as you want to be able to integrate the children into their school and feel safe on your commute to work. Do your research before you hunt.
Rule 3: Think Hard About Your Offer.
Before you approach a seller with an offer on their house, you need to be absolutely sure. You need to have your funding in place, you need to know all the associated costs with the house itself and you also need to be sure you can afford the mortgage long-term. Check out the local houses that recently sold so that you can ensure you have a fair offer.
Rule 4: Get Inspected.
You get to have a period of due diligence before you complete on a home, and this should include having an inspector come in and assess the home for any damage or ruin. Your dream home can easily be a dud home wearing fancy dress! If you don’t take the time to do the right checks, you could end up spending a lot more money trying to rectify mistakes that you shouldn’t have to. Here is a list of the most common home inspection findings.
Rule 5: Keep Your Seller On Side.
One of the biggest reason a house can fall through is not getting along with the seller. Keep the goodwill of the seller and you can make sure that you don’t lose out due to animosity. Kindness goes a long way, so don’t pick apart the sale of the house and just enjoy the ride.