In continuation of our First-Time Buyer Series, we’d like to share our expert advice on how to choose the right home for you. There are obviously various factors to consider, such as location, price, and individual needs.
Remember, your first home does not have to be your forever home. A dream home is often something you work towards, so never disregard what may be the most realistic option for your first time as a home buyer. Going towards the top of your budget is a recipe for disaster, and not only that, but you’re only going to put even more pressure on yourself once those mortgage payments hit.
Here are some factors to carefully consider when you are looking to purchase your first home:
Start saving for that down payment early
Seriously consider your needs versus your wants
It is very important to set your expectations accordingly when buying a new home. Understand that finding your absolute dream house is very rare! So make sure you have a list of deal-breakers and areas of compromise going forward with your new home search.
First-Time Buyer Series, Part I: Home Buying 101 - Let's Talk Money
First-Time Buyer Series, Part II: Become An Expert On Securing The Best Morgage Rates
First-Time Buyer Series, Part III: How To Pick An Agent