Buying your first home is among the most exciting experiences of your life – but it can also be intimidating. After all, you are investing in a place where you will make lifelong memories and where you are likely to see your family grow. While seasons buyers might be more comfortable while making such important choices, for first-time buyers, this can be a steep learning curve. Understanding the real estate market and getting in touch with a realtor you truly connect with are the first steps. But there is more to consider!
Consider building a new home.
The real estate market tends to be incredibly dynamic, and there are likely to be new houses to choose from every month. However, many buyers can spend months viewing such places without being able to pinpoint the one that has everything they desire. That is when having a second choice comes in handy.
Building the home of your dreams rather than buying one can be an exciting journey and, generally, new homes are perfect for first-time buyers. These options often come with a long-term warranty that allows you to enjoy your property risk-free for years.
Additionally, you will have your say throughout the different stages of the construction process – so you can choose all the details, styles, and layouts you would prefer to have. Without a doubt picking a wholly customized space can help you enjoy a home that reflects your needs and preferences best.
Location, location, location
Who would not want to buy an idyllic countryside home surrounded by vines? However, this might not be a practical choice for your situation.
Especially if your job requires you to commute into town every day or if your kids need to attend a particular school, you might need to pinpoint a location that allows you to do all that comfortably.
While picking the location or neighbourhood for your future home, don’t forget to think long term. While you and your spouse or partner might currently be the only dwellers, this can change. Other needs can present themselves in the future and, if the property you have picked does not already support them, you should think about what other alternatives you have.
Whether you have decided to build or buy a home, there will be an environmental impact that you should not ignore. There are several environmental factors to consider that range from the length of your daily commute to the possibility of installing solar panels. If you are unsure regarding your future home’s impact, you should speak to a knowledgeable realtor or home inspector. Among the most common factors to consider are energy and water efficiency, but nearby community resources and the size of your home can contribute to the overall impact.
Size and style
If you have opted to build your own home, you will be able all the details regarding the size of the rooms and the appliances to include in the design. However, especially if this option is not available to you, you should mindfully consider what the house should look like inside.
Firstly, as we have seen above, it is always wise to consider potential future changes in your lifestyle, especially if you are planning to start a family. In this case, you might need larger rooms, more bedrooms, a garage or different internal sections.
Moreover, your style and preferences could change throughout the years. Something that you might consider practical and appealing now might not be in the future. Therefore, opting for a white canvas that is easily customizable and won’t get in the way of future remodelling plans is ideal.
Consider your budget
When deciding to invest in a property, the first factor you would have considered is how much money you can realistically spend on it. However, it is also essential to understand what parts of a house it is best to invest in now and what are the ones that will require you more substantial expenditures later on.
For example, if you are not sure about the colour of a room, you can quickly update it by renewing the painting or adding a fancy wallpaper. However, if you are forced to change the appliances in the kitchen and bathroom, your remodelling projects can turn out to be much more expensive.
Buying a house can be an exciting step to take with your family and represent a smart investment. However, you should speak with an expert before committing and consider your plans and projects. Lastly, don’t forget to ask the right questions to your realtor!