Whether it’s the first home you buy or the 10th, buying property is a serious investment of both time and money. Before the option of buying a home was a tangible thing, you may have spent hours looking at property listing sites such as Purlin building yourself a profile of dream features that you’d like in your dream house.
In actual fact, buying a home may seem simple at first, but there are many factors that contribute to you being able to stop dreaming and start holding the keys to your dream house.
Here are just some of them.
Knowing exactly how much you can afford to pay (and borrow)
Having and sticking to a budget will help you to stay immune from financial problems and possible foreclosures in the future. It will also help you to keep your search narrow when you begin selecting properties.
Stretching yourself too far financially can lead to potential financial ruin. It’s all well and good having this beautiful dream house but not being able to afford your bills or food, let alone being able to furnish it!
Be smart when you set your budget. Consider your income and set outgoings before making the leap to buy a property that you can just about afford.
Surf the web
We’ve all spent a lot of time looking at houses online at one point or another. However, when it comes to looking for a dream house you can actually buy, you should start to narrow your online search according to your budget, ideal location (this is where you may need to be flexible), and the amount of space you want and need.
Doing this will give you a good idea of the current market and the types of property you can afford. Looking on property listing websites will also give you an overview of the average property price, walkability scores, schools, and local amenities that may impact what you search for.
Don’t be impulsive
Never buy the first house you see because you think it is ‘the one’. Even if you fall in love with the house and area. Create a shortlist of properties when you have looked at a few so that you have different options to choose from.
If you stop searching after looking at just one house then you’ll never know if you get the best deal possible, let alone the best property based on your requirements!
Get external help to find your dream house
Real estate agents can have a bit of a bad reputation when it comes to helping people buy their dream house. However, it’s worth noting that they are a great choice when you want to best chance of getting yourself a decent property.
It’s particularly a good idea for first-time buyers to utilize the help of an expert such as The Dawson Team so that they can be guided through the process of buying a home. They will talk you through your requirements and notify you as soon as something becomes available that suits your needs. Similarly, they can help sell your previous property if you have one.
They can also give you expert advice for the area’s amenities or land value, provide access to useful resources (such as inspectors and appreciators), streamline the buying process, and many more. If buying a property is not your forte then a realtor can help you get your dream home.