Purchasing your first home can come with a lot of emotions – excitement, nerves, confusion – to name a few. At Leslie Clarke Homes, we want you to fill the excitement of this investment with a home you love, the first time. To do so, it is important to avoid some common mistakes first-time home buyers often make.
Below are some tips for keeping you in the clear:
Know what you can afford. Looking at houses outside your budget is an easy way to overspend. Online tools and a Realtor can help guide you towards an amount that works for your situation so you can enjoy the home you choose to purchase instead of just worrying about how you will afford it.
Don’t predict the future. Anticipated promotions, increased earnings and other future expectations are just that – in the future. It is vital that you only base your mortgage payments off of the amount that you presently earn. You can make corresponding adjustments when the time comes.
Factor in all of the costs. Especially if your switching from renting an apartment to owning a new home, it can be easy to leave out all the extra pennies home owners have to dish out. Unlike an apartment, rent isn’t the only cost accumulated. Closing costs, property taxes, HOA, and homeowner’s insurance will all come into play.
Have the house inspected. The house you love may seem perfect at first glance but it is important to have a professional come in and inspect it. If there are any problems with the house, you’ll want to know about it before you sign on.
Set realistic expectations. Finding a first home is no overnight feat. While you don’t want to be over paranoid with your purchase you also don’t want to be too naive. Find an in-between balance and be realistic when it comes to buying your first home. If you submit low-ball offers you might be rejected. Unfortunately, that is the name of the game.
Leslie Clarke Homes can help you discover your first home in Westport, Weston and all of Fairfield County. Call us today at 2013.984.1856 or visit our website for more information.