Preparing to Buy Your First Home

Dipping your toes into the world of real estate can be a huge decision to make. After all, buying your first property is always going to be a big life event and one that will solidify your status as an adult. But what exactly should you be investing and looking for when you buy? Assuming you have worked out all the financial details and legalities. The biggest thing you need to do is make the offer and sign on the dotted line.

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You want to be sure you have made the right choice before you go into escrow. Whether this is your first starter home before you upgrade or you are buying for the long term and wanting to make roots and settle here for many years to come. 

Location, Location, Location.

It matters far more than you may think it does. You may think you will live wherever you can afford, but you need to make sure the location works for you. Even in terms of narrowing down your property search.

Think to transport links for work, school districts for children/future children. Local amenities are also a big thing to check out, some people may love the idea of living in a thriving city, but others may prefer the quiet of more rural areas. Take into account the average cost of houses in your area as well as taxes if you are moving to a new state to make sure you know exactly what you can expect from your money and don't overstretch yourself.

Property.

Have you thought about what type of property you actually want to buy? Most people think owning their home is a house. But there are so many different options to choose from. Do you want to live in a community where your lifestyle is catered for such as those from Roger O'steen of Jacksonville or do you want a house with a white picket fence in suburbia? 

Think about your life as it is and why you are buying the property to help you decide exactly what property you want to buy. Be it an apartment, house, condo or you choose to build your own and buy a plot of and to get you started.

What You Want 

Buying your first property is a big thing. Be sure of exactly what you want from the property before you take on this kind of debt. The average mortgage is around 25 to 40 years and that is a long time to pay for something you are not quite happy with.

Be confident in why you are taking this step and don't negotiate on this. Sure, you may find you are compromising on the small things but if you are after a forever family home, don't let others sway your decision to buy something else that doesn't fit in with your plan. This includes buying a house that goes over what you can realistically afford or even needs more work than you can afford to take on.