Tips for Buying Your First Home and Mistakes to Avoid

Five years ago my husband and I purchased our first home together and boy, it was quite the experience. I was excited and nervous about the whole process all at the same time. I had never purchased a home before and to be honest I was intimidated by the process. Today, I will be sharing some tips of things I learned that can hopefully help you with your search for your next home.

Ready to find your next home? Great! Just don’t become house poor

When we were looking for houses for sale in Phoenix we searched far and wide for the perfect one. However, when I saw the selling price I am not sure that I really understood what that meant as I kept narrowing down my search by that primarily. Our initial loan approval gave us a number as to how much we were approved and even after we determined a number that was best for us I’m not sure I grasped what that truly meant each month. First and foremost, I would suggest getting a breakdown what the selling price means for you each month. Know that factors like Private Mortgage Insurance (which you can get dropped off your loan later on) will affect the loan and what that means for your livelihood after the search is over with and you are living in your home.

If at First You Don’t Succeed

Similar to how in our everyday walk in life you come across these people you don’t gel with, it can also happen when you ring up a realtor you found in the phone book (OK, more like Google in 2018). At the time I couldn’t put my finger on it but I didn’t feel that our first realtor was working out for us and I was afraid to say so. It didn’t mean they were bad realtors it just meant they weren’t a good fit for us and that’s OK. I would recommend you talk with friends or family and ask them if they know any folks in the industry that they would recommend.

I can recommend John R. Basehore as he was absolutely wonderful in helping us find our home.

Establish Your Needs Versus Your Wants Early On

I actually went into the process with a list of what I was looking for in our next home. On one hand it was really helpful when I was unsure of a home and needed to see how it matched up to what was on the list. But if you are a person that will have 1 million items on a list than perhaps be very realistic as to what you need in a home vs what you want that you saw on HGTV which brings us to our next point.

Don’t Sweat the Small Stuff

So let me keep it all the way real on this part. I thought that if a home was sold at a certain selling price I was for certain going to get the stone countertops, stainless appliances, flooring, and chocolate falling out of the sky. I know. Sad right? Lol. In hindsight, I passed up on a few homes not understanding in the scheme of everything the stuff I didn’t like were so minor and actually weren’t deal breakers.

Understand this. You want to make sure the house itself is structurally OK. Cosmetics should not be a determining factor in buying your home. If countertops or cabinets or even a yard are not to your liking it does not mean that the house is not a contender. It just means that these are items that can be changed later on. Make sure the things that are permanent of the home are ones you can live with for quite a while.

Do Your Research

During this time there is a lot of information being thrown your way. I remember my realtor passing us some paperwork in the beginning such as a buyer advisory that is a breakdown of everything you will come across or should look out for in the process. One tip I had never even considered was to call your local police station and ask if the police were ever called in the past on the street of your desired home. It also advised even looking up if there are sex offenders in a 5-10 mile radius. I know. These are things we just pray for the best about or don’t even think about but in today’s world unfortunately these are factors that shouldn’t be overlooked.

Trust Your Gut

Ultimately, trust what you are feeling as your gut will never steer you wrong. Don’t make rash decisions and take your time when looking for your next home. Buying a home is a great investment and it is something you should feel good about doing it.

Drop a comment below if you have any questions xoxo.

 

 

 

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