If you’re in your early thirties and you’re about to get your first home, then you could find the process overwhelming and stressful. In fact, regardless of age, buying your home can be a stressful experience if it’s your first time. In this post, we will help make the homeownership journey a bit easier on your end. Check out these tips:
3 Tips When Buying Your First Home
- Set a Budget. Before you start looking for a home, determine how much you can afford first. From there, you can start looking at homes within that price range. It also won’t hurt to use an online mortgage calculator that will let you determine the maximum monthly payment based on the home price after you place a down payment. When setting a budget, consider your monthly expenses as well. As much as possible, you don’t want to have so little left when you get a mortgage; you still want to be able to live comfortably. Still not sure about the right budget? You can always speak to a local independent mortgage broker to help you come up with the right budget.
- Create a List of Non-Negotiables. Don’t get deep into the whole house shopping thing yet; consider your values and lifestyle. List down things that are non-negotiable for you, such as the location, amenities, etc. that must be in your future home. By doing so, it will help your real estate agent find a house that is most suitable for your needs. When you know exactly what you want, it’ll be much easier to navigate the homebuying process. However, manage your expectations because it’s challenging to find everything you want in a property. Visit open houses and familiarize yourself with the local apartment. It will also make a lot of sense to re-evaluate your list when you gain better insights into what’s out there.
- Work with an Excellent Real Estate Agent. Buying your first home, as mentioned, is not a walk in the park. There are a lot of things that go into it that could make you feel lost. Therefore, working with a real estate agent who you’re comfortable with can make a lot of difference. An excellent real estate agent knows a lot about the area you’re eyeing, which will save you a lot of time. That way, you don’t need to take so much time out of your day to find a home because your agent will do it for you. Aside from the home searching, your real estate agent will also have valuable contacts for local independent mortgage broker that can help make the homebuying process a lot easier.
Get the House of your Dreams in Royal Oak Today
A house is one of the most significant investments you could ever make in your life and getting one during your early thirties can be exciting, rewarding, and challenging all at the same time. Shopping for your first home isn’t the easiest thing to do, which is why you need to know some tips to help you manage better.
With these tips, you will be able to find a home in no time. Rest assured that it’s something that you will absolutely love!
If you’re a first-time home buyer in Royal Oak, we can help you find the right mortgage. The Mortgage City is your local lender that aims to fulfill your financial goals. Check out today’s rates and apply now. Call (248) 930-8709 to get started!