In this series we are talking about 6 essential things you need to do as a first time home buyer to be successful with one of the biggest financial investments in your life. This is also true whether you are an experienced one, or a seller who will also be buying a new home. The issues are pretty much the same for all three.
In Part 1 we discussed the importance and value of getting a lender pre-approval for a loan.
Part 2 was about the benefit to you with working with a well-qualified Buyer Agent who can and will look out for your best interests. The listing agent can’t do that!!
So here’s Part 3 for careful consideration. And it’s an essential step.
DECIDE WHAT YOU NEED IN YOUR HOME
It’s critical to think carefully about what you really need in your first or next home.
If you have not bought a home before you likely have some ideas, perhaps vague, of the things that are important to you – the number of bedrooms and baths, a garage, perhaps a yard. Some of that may become more clear as you look at homes, too!
As an experienced home owner and buyer you already likely have some sense that knowing what you need in your home, and your lifestyle, is very important as part of the search process.
Notice I said “what you need.” Focusing on what you want, rather than what you need, will likely be frustrating since so often the budget for a long list of wants is lacking, especially for first time buyers. Or you simply cannot find a house that offers everything you want.
Consider that sometimes we want things we really don’t need, but perhaps don’t realize it right away. I often see buyers starting out with a long wish list and then, over time during the search, realizing some of the stuff on the list just isn’t that important. Or it’s OK to give it up to get the essentials.
That’s not to say you shouldn’t dream. But be prepared to give up some of those wants in order to get that you truly need, and can afford. It may be that some of the “wants” can be added later!
It’s also important to consider the community and local neighborhood, too. For most buyers it’s not just about the house, it’s about the lifestyle that the house and community offer you.
It’s not unusual for buyer to find a house they like but find they are not keen on the community, so they continue to look elsewhere. I’ve seen it happen over and over.
You might find this article “What’s in YOUR Lifestyle – Issues for Home Buyers to Consider” helpful as you ponder what your particular lifestyle is and perhaps what you would like it to be!
If you have any questions, or I can help in any way, please feel free to reach out to me at (760) 840-1360 (text or direct call) or via email – I am here to help!!