Just like getting your driver’s license, getting your first apartment or buying your first home is one milestone that we all come across in our daily life. You might be tired of writing monthly checks making you all more eager to sign a dotted line, but don’t like this have a rush decision to make such a purchase. You would here want to ensure that each and everything is working right for especially when it comes to the process of having a secure investment in order to something that is in the cards for you right now.
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You don’t always have to buy a home
This is a fundamental question that generally everyone comes across, whether owning a home actually makes sense for your particular circumstances. Some people would here tell you that paying rent is like throwing the money away and there are a lot many benefits you could use in terms of renting especially when you move around a lot.
Your future plans
Before making an investment, it’s vital enough to work out how long you think that you would be able to live in the property. There is no point of trying to buy a studio flat if you think in a couple of years and time that you might want to start a family. Similarly if your job or financial circumstances are unstable do ask yourself whether now it’s a good time to tie yourself to a location and the monthly commitment of the mortgage. And if you are buying it in the wrong place this was not only encounter the expenses of moving again, if property prices fall then you might here land up find yourself forced to sell your apartment or a home at a loss.
Do you see yourself in the neighborhood
If there are tons of children in the neighborhood and you are a professional couple who carve quiet then you might be in then you are definitely in a wrong place. Conversely if you have children and there are no schools within the walking distance, and no basketball hoops in the middle of ways, then they would not have any friends to play around with. So do make sure that you pick up an area that would not just fit according to your lifestyle while you are looking into the city or the suburbs.
Location
Where your home is located may be the more important than the home itself. So whether you want to live in a quiet suburb or a bustling city deciding where to live is the key to being a happy owner. So try and talk to those who live nearby and get their opinion on the area. Find out the home base values what you have been looking out for, what’s the starting price for most of the houses. If you have school age children you should put major emphasis on what quality of school they would be attending. You would also want to establish what the commute to your office is and if it is actually fitting to your lifestyle.
Structure
No one would ever want to share their house with insects or wake up to see a leaky ceiling. So if you are planning to buy a house that is already built, then do make sure that it is in a good condition before making investment that you would later regret. So do not trust your own judgement and instead hire an reputable inspector who could check the house for you. Most banks would not even give you the loan unless and until the inspector has checked into the house. Inspectors would here ensure you that the house is well equipped with proper flooring, having a solid foundation, better windows, and the last but not the least sturdy roof. You would here need to get specialized inspectors to check out pests or to examine the quality of the pool.
To conclude there are a lot more things you need to think off while you are planning to buy an apartment or a home. Use this guide to help you in order to ensure that your investment is a really good one. What other tips would you like to give your first time home buyers? Do leave your thoughts below.
