As many of you know Mr. and I are in the process of saving money to purchase a couple of homes at the moment and not only has it been a long journey (that seems like it will never end) but I have learned a lot about how to save money in little ways and what we were really looking and wanting in a house.
I opened this up to some of my very close friends to ask them for some of their helpful hints and I was surprised with the amount of support they provided but also the great hints and tips.
The biggest hint or tip that came through was know exactly what you can and cannot afford. At first it seemed pretty obvious to me and then I got to thinking, I have been there, when you are walking through a house and you get your wheels turning about all of things you want to do and you have all the greatest intentions to change your lifestyle habits and maybe you do and then all of a sudden life happens. Your car needs repairs, your child gets sick and now you cannot afford your house payment. Stay within your budget! Along with knowing what you can afford, also know your must haves, number of bedrooms, location (close to stores, school district), amount of stairs, yard size, and a list of nice to have but could possibly live without, off street parking, basement and attic access. This list is obviously going to be different for each person.
The next tip was to make a plan; there is always something that you want to change or fix when you move into the house to make it yours. Devise a plan on what you can afford right away and what you want to do slowly and over time. Have you seen that commercial about never stop improving? Your life is constantly changing and so is your home. I loved thinking that my house will always be a work in progress. With that mindset, what are your plans for the house? Is this somewhere you want to stay forever or a few years, this will also help to define the plan for progress.
Cover your butt… get a home inspection and make sure it is by someone who is highly recommended. I was surprised at how many people told me they skipped the home inspection only to find out that there were major problems and they were stuck! Know what you are getting yourself into before you do. One of my readers told me they bought a house and about two month after moving in, they found out that there were problems with the plumbing and the entire house needed upgraded which lead to the electricity shorting out. They skipped the home inspection to save $500 and ended up paying almost $25,000. Ouch!
Although , there are many things that you look for and tips for buying a house, these are what I feel are the most important. Along with knowing all and these tips, your finances and Mortgage Refinance Rates, for more information on mortgage rates, click here.