For many, the thought of owning a home can be something in the distant future. However, if you are looking to become a new homeowner, there are few things you need to know before buying. Let’s take a look at a specially curated list of things that would be good to know before settling into your forever home.
Take Your Time
This first tip may be the most important of them all. When looking for a new home, it’s hard not to feel pressed to make an offer on any home you’re interested in right now. But the key is to relax and take your time to shop around as this is a major move to a home that you’ll be living in for years to come. It’s also important to shop around for mortgages and homeowners insurance, then you’ll be able to find the home of your dreams knowing you took your time.
Buy Less House Than You Can Afford
Online calculators are gaining momentum and popularity as many can tell you how much you can afford based on your current income and current debts. With these sites being well-meaning, it’s best if you can aim for a home that’s even less than what the calculators tell you. One of the best ways to buy a home is having the 20% down payment, a 10% buffer and savings, and your mortgage less than 30% of your gross income.
Look Out for Deal Breakers
While most have a “want and need” checklist, there are a few potential deal-breakers on your need-to-know list.
- High-risk flood zone
- Issues with sewer lines and other plumbing
- Strict local zoning rules for home improvement
When buying a home in a new development area, be sure to first learn about the background of the developer and home builder. Reviewing a track record and reputation is important when making a purchase decision in any industry. When the decision is as important as buying your new home, having a level of understanding and trust is even more important for your peace of mind.
We know that this can be an exciting time for anyone, and at Rise West Grove Estates, we may have the home you’ve been looking for. If you have a question about the homes that we offer and the amenities included, or would like to learn more about our home builders, feel free to give our office a call or send us an email with any questions or concerns we can address.Read more...