A friend of mine and his wife are currently looking to purchase a home and start a family. This is a very important step in life that I look to do someday, so I asked him for any tips or advice so that I may begin to plan for the future now. My friend didn’t know all the answers, but was glad to share any knowledge he had and even took me along to go house hunting with him. After a long 8 hours of driving around with realtors and looking at different homes, I was able to come back with a few tips that I found to be very helpful for the future.
1. Know Exactly what you Want
Most of the realtors I met have been very aggressive and scavenge on the weak almost like vultures. It is important when going house hunting to know exactly what you want and to stand firm in your decision, because if you don’t others will recognize weakness and try to take advantage of you. Know what you’re looking for, in what area, and what price range and do not settle for anything less. If you decide to go with something, it’s a good idea to wait on it a bit just to make sure you are not missing out on any other homes and you are getting the best price the home you choose. A lot of people make the mistake of choosing a home out of pure emotion and fail to have certain things like the pipes and foundation checked out, causing them more money in the long run.
2. Read the Fine Print
When deciding on a home, it is always important to ask questions and see exactly how much money will need to be put into the home. Depending on the age of the home, repairs may need to be made, especially on older homes. The worst thing that can happen after purchasing a home is find out you have a bad foundation or termites have been eating away at the frame of the home because those repairs are very expensive. It is important to do research on the home and find out exactly what needs to be done and if the investment is worth it or not. After deciding on a home, be very careful in reading the fine print on the contracts just to make sure you are not getting into something that you can’t handle. People end up losing homes because of missing minor details in their contract and not being able to meet payments because of major repairs that need to be made on the home.
3. Protect the Home
Once you have decided on a home, before you decide to move in it is a good idea to get the home insured. This includes everything from home owners insurance to flood, tornado, and fire insurance depending on where you live. It is also a good idea to make sure the home and your valuables are protected while you are away and look into a home security system.
I learned a lot on my home buying trip, and I intend to do more research before I make the step of purchasing a home. I plan on knowing exactly what to look for and following my own advice so that I may save a lot of money and use that to furnish the home and enjoy it without having to worry about if I got a good deal or not.
Image Courtesy of Kjell Olsen via Flickr Creative Commons