Buying a new home is an exciting emotional and financial adventure! All the vagaries and hurdles in the complicated process of buying a house can leave a buyer feel stressed & burdened. So, it is a necessity to plan wisely and carefully before making an important decision like buying a home in order to be relieved of all the obstructions coming in the path. Following are the Home Buying Tips that can help you take a wise and rational decision and ease out the entire course of action.
Tip #1: Get your Ducks in a Row: Make a Budget and get pre-approved for a Mortgage
Depending upon your financial condition, figure out the maximum home price you can afford. Line up your financing, Set your down payment stats aside and study the available loan programs. By doing your homework, you will know exact expenditure and costs. It has been recommended by financial experts that a homeowner should spend a maximum of about 30% of their monthly income as principal interest, taxes and homeowners insurance.
Tip #2: Invest in the long term
Protect your investment against rising energy, water and petrol costs by ensuring that your home saves energy and water and is close to everything you need, including public transport. Choose long-lasting, durable materials that don’t need a lot of maintenance. These factors also have an impact in Re- sale value. Remember to look at the big picture.
Tip #3: Choose where to live: Location, Location!
Confine your priorities and choose the kind of location where you could find a desirable neighborhood meeting all your needs. Look for a location from where your work place is nearer and the rest of the public places as well. Spend less time stuck in traffic and more time enjoying life. Being able to walk or cycle to shops, schools, parks and public transport not only makes life easier but healthier too.
Here are some tips for you to select the best home for your family at the best price. You must take care of the legal aspects as well while purchasing a home. So, keep these tips in mind and have a happy home searching experience!