10 Tips for Buying a New Home
Imagine yourself in your dream home. It may have a perfectly new kitchen, living room, and bathrooms. It may have plenty of room inside and out for the kids to play and grow. It may be a mansion or a townhome. Regardless of the specifics of your ideal home, it can be difficult to know where to start when you are ready to begin searching for it. New home buying is a new experience for many people, so we came up with some tips on where to start so that you can end up in the perfect new home.
1) Save Your Pennies
Understanding how much you are willing to pay for a new home is about understanding what it is going to take to pay the price. Being wealthy isn’t all about making millions. It’s about living within your means. Make sure you are saving enough to afford the price range you are looking into. If you want a better house than what you can afford, it is time to re-evaluate your savings plan.
2) Stick to a Budget
Don’t let the perfect home in the perfect neighborhood with an imperfect price deceive you. If you can’t afford it, it is not really the perfect home for you. The difficulties that come from missed payments, too much debt, and bankruptcy are not a perfect situation for anyone. The only perfect home is the one that you can afford.
3) Buy a Book
This is especially relevant to those who are buying a home for the first time. Home buyer books could be the best $25 you spend because of how much money it will help you save. Purchasing a house is by far the biggest cost that most people will ever incur. It makes sense to educate yourself as much as you can about the process so that you don’t feel lost or taken advantage of. Find a quality home buying book and make sure you understand important parts of the purchasing process.
4) Investigate the Neighborhood
One of the worst mistakes that people make is purchasing their dream home in a nightmare of a neighborhood. This can drive you insane! Make sure that the area is a place to live long term. Check out community maps and pictures provided by home builders like these from McArthur Homes. Go on a walk around the area. Drive around at night. Speak to the neighbors that you come across. Make sure that you will be comfortable there for years or decades to come.
5) Understand Your Warranty
When buying a brand new home you have benefits, like the warranty, that guarantee that the builder will come back and fix parts of your home that need fixing. Make sure to ask about the warranty and understand exactly what the builder will come back and fix and what you are on your own with.
6) Commute Time
Most people think that they can handle any commute. Before sacrificing hours of your day for a house, think about yourself making that drive, bus ride, or train ride every single day for a year. Is that something you are willing to do? How much can traffic affect the commute? How much time and money will you be spending on the commute each day? Make sure that the commute will be bearable for years to come.
7) Pre-Approved Home Loan
Anyone can qualify for a home loan, but those that have it pre-approved have a leg up on other bidders. If the real estate agent and the seller know that you are already pre-approved for the loan, then they also know that you are ready to sign.
8) Investigate Local Schools
This is becoming a bigger deal to potential homebuyers everywhere today than ever before. Make sure that the area you are moving into has the right kind of education for your family. Sometimes this can be difficult to control, so don’t worry too much about it, but you need to feel good about sending your children there every day. Make sure that you are aware of the schools, extracurriculars, and teachers in the area.
9) Don’t Try to Time the Market
The best time to buy a house is when you are ready to buy a house. Don’t let timing the market drive you crazy. You might end up missing an excellent opportunity if you think it’s the right one. Unless you are an economics master, don’t worry about finding the perfect time to find a house.
10) Ignore Any Buyer’s Remorse
Whatever decision you make about buying the home, love your choice. There is no reason to think about other homes you missed out on or issues that you have with your new place. Think about the reasons why you chose the house and enjoy them. Find new reasons to love the house everyday. After all, if you have the right attitude, the perfect home is what you make it.
For more information on shopping for the new home of your dreams contact McArthur Homes. We will get you started on the journey to land the perfect home for your family.Tags: building a new home, home building process
Categorised in: Home Building Process
This post was written by Mcarthur Homes