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!
Getting a house is one of the investments that most people are trying to have. With this, people will be able to get a good place to live in for their entire life. One can use simple loans in fulfilling these dreams.
ReplyDeleteThe most important thing to consider when buying a house is the location. Proximity to commercial areas, schools, hospitals, and transportation are the main factors of a favorable location. Remember, owning a home involves a lot of risks so remember to weigh your options and think about it ten times to make sure you won't regret it.
ReplyDeleteConsidering that information you've shared will definitely help first time home buyers make a smart home buying decisions. Thanks!
ReplyDeletePia | Philippines properties
You are absolutely correct! Thank you for stopping by!
ReplyDeleteSearching for a new home is a process. You are right in emphasizing home inspection. If you put yourself in the seller’s shoes, what you want is to show all the good parts and advantages you can get from the house. You should be a smart buyer. Paying attention to the smallest details would help you decide whether to buy the house or not. Home ownership can also be a cycle. By improving your house, you also increase its value, which will prove useful if you decide to sell it once again.
ReplyDeleteBuying a house is not easy because it has a lot of things should consider especially for the first time buyers. This post can be a big help for them. You did a good job and keep it up. Thanks.
ReplyDeleteCharles | condo philippines