4 Things Every First Time Buyer Gets Wrong

Buying your first home is an exciting, but confusing time. All you want is a home that you love, but it can be quite a scary and exhausting journey before you reach that. As a first time home buyer, you will lack the experience and knowledge of previous homeowners, and it is easy to fall into mistakes and problems. Have a read through these points and make sure you do your research before you start your property search.

Not Knowing What You Can Afford

Working out your budget should be your first step in home hunting, this needs deciding on before you even start looking at houses. These are no point falling in love with a property which is out of your budget, as you will struggle more to find something you like in a lower price bracket.
If you don’t already have a monthly budget, this needs to be sorted. Work out how much your income is a month, and deduct all bills from that. Include monthly bills, and estimate what you normally spend on groceries and fuel. Don’t forget annual and quarterly bills as well. When you know how much is left at the end of each month, you can work out how much you can afford to spend on a mortgage. Don’t cut yourself too short, though; you need to have some finance to fall back on in case of emergency or extra spending. This will all need to be checked with the bank as well, though. Just because you think you can afford it, they may not be willing to lend you that much. Make an appointment in store, or speak to a mortgage advisor, and have a budget thoroughly set before you start viewings.

Research The Location

If you are moving to a new location, make sure you do plenty of research before putting down offers. Check out the local area, research online, and wander around the area. Knocking on doors is a good idea, as you can get the general idea for a place by speaking to the neighbours. If it is a long distance from where you currently live, consider travelling and spending a few days there. This will be better in the long run, rather than encountering and nasty surprises after you’ve moved in.

Not Having Vision

Make a list of must-have features for your new home, but try not to be too far-fetched. If you want a larger home, you may have to compromise and get one that needs work doing to it. Try to imagine what you can achieve in the house and try not to be put off by minor details. Equally, if you want a house you can move straight into, a new home like Red Ink Homes house and land packages can work well. Speak to agents and look through brochures, visiting show homes can give you a really clear idea of what your home could look like.

Getting Swept Away

When you start viewing homes, it all starts to feel very exciting and real. Try not to get too swept up in it all and carried away, though. Even if you fall in love with a property, keep a level head and remain calm. Be aware of any problems with the house, if there are any large ones you may have to go with your head over your heart and consider another option.