Buying a home requires thorough planning and evaluation. If you’re a first-time homeowner, it’s in your best interest to know what and what not to do for an enjoyable home-buying experience.
The Dos
Do check out the neighborhood
You should always make sure you’re buying a home in a good neighborhood. Weekends and nighttime are usually the busiest since this is the time when people are back in their homes. Make sure to visit the area frequently during these times to see it in its full glory and check how safe it is.
You can consult the local police department or town hall to see if there have been any problems in the area lately. You can even ask your potential neighbors about their experiences with crime in the area. If you don’t like what you hear, it’s time to look elsewhere!
Do get pre-approved for a home loan
Pre-approval means you’ve estimated how much money you can borrow to purchase your home. This information will help determine if the asking price is within your budget. Otherwise, you may need to find a house suitable to your needs while staying within the limit of your pre-approval loan. Being pre-approved allows you to get your home loan approved more easily!
Do weigh your options
Most buyers fall in love with the house and neglect to look at other properties in the area or surrounding neighborhoods. This mistake can be costly because it may prevent you from discovering something better. When considering a home, visiting several properties before making an offer is essential.
This step will give you a better idea of what is available in different locations and the price ranges, which can help you make an informed decision about which one fits your situation best.
The Don’ts
Don’t change jobs in the middle
If you’re in the middle of buying a new home, don’t change jobs unless you have to. It’s best to stay at your current job until after the purchase. This way, if something goes wrong with your new home, you will have more leeway to resolve it before you run out of savings or need income from another source.
Don’t make new major purchases
It’s tempting to buy new home appliances or big-ticket items to have a fully furnished home once you know when you are about to move in. But, it’s best not to do so until after you’ve closed on the property
