Buying your first home is an incredibly big step in anyone’s life. It represents a huge step toward putting down roots and really calling a place home. It also represents a huge investment that takes considerable time and care to prepare for. Advanced Waterfront understands the significance of that moment and we want to help. To that end, here is a list of important things to have in mind before you seal the deal on your first home.
Consider Your Financial Situation
You might think that this idea goes without saying; obviously, before buying a house people will consider where they are financially. But there may be some obstacles in areas you wouldn’t expect, such as student loan debt. When getting a loan for a home, even student loan debt is seriously weighed in consideration for what kind of rate you can get, or whether you’ll qualify at all. This is particularly important if your loan is in deferment. Consult with your bank as you begin your planning process to learn how you might be affected.
Don’t Be Fooled By Purchase Price
While the purchase price will surely be a factor in your decision and is often part of what initially draws someone to a property, don’t get sucked into the idea that it accurately represents the price you’ll be paying. The purchase price is only one of many fees and costs that you’ll have to cover when you’re closing on a house.
Search With Your Future In Mind
While you can usually pretty confidently say whether you’re in a position to buy a place at a given time, there more to consider than just how well you can afford it at closing. Where will you be in five or six years? Do your current plans for where your life will be suit your plans for your home?
Find A Layout That Works
While it’s easy to get caught up in cosmetic changes and new paint jobs, it’s more important to know that you’ve got a layout that works for you. Paintjobs and wallpaper are easy to replace, but counters, kitchens, and baths less so.
The Advanced Waterfront team in Connecticut and Long Island is ready to help you on your home buying journey. We know you’ll find the home you’ve always dreamed of owning, and we’ll help you settle right in. Check out the many properties we have available now on our website or contact us today for more information!