4 Home Buying Prep Tips For Future Home Owners

Dated: August 31 2016

Views: 538

Image 

How do you prep to buy a home? Do you go online and start researching all the best prices in you're area? Do you calculate how much of down payment you have to make? 


Stop Right now.  


Chances are that most of you're prep will go to waste! It's difficult and tedious to buy a home, I'm not sure if you have prepared mentally for the stresses that come with home ownership. It is no cake walk I tell you.  

I personally don't own a home but seeing my girlfriend go through the whole process herself (instead of a house it was a loft) was kind of nerve racking. Having to go through middlemen, constant contact with lawyers, traveling to see the homes etc. It's a bit of a hardship people.  

Arm yourself with the proper knowledge before hitting the housing market, you have been warned.  


Forgetting Logistics  

You might be up in arms trying to find the perfect home and avid about discovering the right price also but you're forgetting logistics. Are you foregoing a smaller home that endless community amenities? Parks, public transportation and  quick downtown city access.  

These are what you should look for especially if you're younger. Nobody wants to commute 40 minutes every morning to work , its just not feasible.   

Research the area that you want to live in and do you have kids? Take into account how far school might be as well. Are there nearby bus stops? Can you over look taking bit longer to find parking for benefit of having everything nearby? 


Not enough down payment  

I've mentioned this a few times but seriously its because people forget and are in severe rushes to buy homes.  

Yes, more mortgages are being given to people for about 5% down payments. Think about how about how long you'll be paying for that home by only putting 5% down.  

You're setting yourself up for utter failure with this strategy. Put down whatever 20% of the house is.  

Side note: If you were interested in much a larger property somewhere over $700,000 , the sellers won't even  give you an appointment if you don't put have at least $14,000 (20% of $700,000)  


Online or In Person  

Nowadays, its quite easy to go online and buy a house and yes people are buying homes on the internet. But what drove this craze? Most people wouldn't be caught dead buying a home without seeing it in person. What about the person coming from another state who can't afford the travel costs to see the home? That's why we have online brokers.  


Realtors get commission for the sale of the home and that could be a cost that you can save by not having to do Deal with any real estate agents.  


Patience 

Sometimes find the best home just requires a little patience from your part. They say if you wait long enough then destiny will eventually give you better hand to play.  

Take up meditation for better mindset, you'll be Dealing with real estate agents and lawyers , back and forth communication , maybe a seller gets cold feet last minute etc., the possibilities for things to go NOT your war can happen. It’s up to you to prepare for such events.  

Calm the mind , there's an article we have explaining mediation in depth Meditation Will Improve You're Home Buying Decisions. 


Conclusion 

Responsibility is key when it comes to making a big choice like where to buy a home and how big a home you should buy. Don't forget other things like whether a home is in tip top shape or of how high can you expect the utilities and other bills to rise.  

Peace of mind is more important, don't wrap yourself up in a Deal without knowing all the possible information that’s offered.  

Want to Advertise on this Site?

Latest Blog Posts

Why You Need A Real Estate Professional In Your Corner

In today’s fast-paced world where answers are a Google search away, there are some who may wonder what are the benefits of hiring a real estate professional to help them in their home search

Read More

Buying A Home Take Stock Of These Things

What are some of the most important factors that buyers take into consideration when looking for a new home? There are the obvious things like price, square footage, location and lot size. Those are

Read More

Millennial Home Buyers What You Need To Know

In the past, you’ve likely read about how the Millennial generation is opting to rent rather than buy property. While this still holds true for many Millennials, the fact is that a growing number

Read More

New Home Construction Boom Expected

The housing market has been trending in a positive direction and economic indicators point to new home construction going vertical. Following the housing bubble and sluggish post-recession,

Read More