The process of buying a home can seem overwhelming. While home ownership is a smart way to build wealth and provide you and your family stability and security, some people shy away from jumping into the process. Or they make an impulsive decision that costs them money.
It doesn’t have to be that way. Before starting the process of searching for and buying a home, take some time to plan out your approach. Don’t worry about how quickly the market is turning over or sudden price jumps or drops. There are always great homes available. You want to find the one that is right for you at a reasonable price.
Tips For Searching and Buying a Home
The following Good Greek Realty Homebuying 101 tips provide an overview of what you should keep in mind as you search for a new home.
Use Online Resources
About 90% of homebuyers say they start their home search online with sites like Good Greek Realty. While it’s important to see a house in person, using online listings can help you decide what you like in a home and neighborhood. You can quickly eliminate certain types of homes and start to narrow down the list of where you want to go for an in-person showing.
Buy the Neighborhood, not Just the Home
Once you get settled into a new home, the surrounding neighborhood is going to become especially important to you. You want a neighborhood that is peaceful, safe and that has demonstrated it maintains consistent home resale value. It’s better to own the “Chevy house” in a great neighborhood than the “Cadillac house” in a so-so one.
Have a Realistic Buying Budget
Like all shopping experiences, the price for houses escalates as you find more amenities you love. It’s best from the start to have a strict limit on what you will spend on your home and then search for homes at or below that price in neighborhoods you like.
Practice Patience
First time buyers might think buying a home is like in the movies, where someone sees a home they love and snaps it up as the heartwarming music swells in the background. In reality, smart homebuying requires time and patience. Most people look at a dozen (or two dozen) homes before making a decision. That’s the only way to find out what you do and don’t like in a home. Plan to spend as long as six months or more looking for the right place.
Think About the Future
On average, people spend about seven years in a home. But that’s just an average – many people spend a much, much longer time in a home. If you plan to start a family, think about your space needs down the road. Many first-time buyers underestimate the space they will need.