Weekly Wedding Tip: Buying Your First Home

Buying your first home can be daunting, especially as newlyweds. Not only are you going to have get used to living together, you are quickly going to learn how to compromise. Let’s say you like traditional and he likes contemporary. You want a one-story home and he wants a two-story home. You want turn key and he wants a fixer upper. You want a condo and he wants land? What do you do? Here are some tips for buying your first home together:

1. Establish a budget of what you can truly afford. Go and get pre-qualified by a mortgage company or lender for the home. This way your know your price range and will only look at those homes. You may be required to put money down or have closing costs so have money set aside for that.
2. Each of you make a list of what you want and need in a home. Remember wants and needs are very different. What you want is what you desire but don’t necessarily need. Ex: He may want a man cave but do you want to sacrifice a bedroom or living space? What you need is a necessity and you can’t do without: a fenced in yard for the dog; kitchen appliances.
3. Then prioritize your lists of wants and needs.
4. Start visiting various neighborhoods and get a feel for each. Determining your neighborhood helps you find your home much more quickly.
5. Figure out what you want in your neighborhood: shopping, restaurants, conveniences, location.
6. Look in the real estate section of the newspaper or on-line at houses. Get a feel of what homes are selling for in different areas and at various sizes. Do your due diligence. Be a savvy shopper.
7. Get a reliable real estate agent to show you the properties and help you negotiate the sales. If you don’t know of anyone, ask colleagues, family and friends for references, and look at reviews for the best realtor in nolensville tn. Remember, these agents are paid commission by the buyer and/or the seller.
8. If you are looking at older homes, remember you want a home inspection. This small expense now will save you money and grief later.
9. Don’t be scared if the inspector finds some issues. Obviously, if there’s a major issue like the whole roof needs replacing then stay away from the property. But, if it’s a small issue like termites then it’s easy for you to go to a site like https://www.pestcontrolexperts.com/local/texas/san-marcos/ and get the pests removed before you move in. Not every issue is a deal breaker!
10. Learn about the area: do they have foundation problems; is this prone to flooding? This will affect you further down and road and your homeowners insurance costs.
11. Ask about the taxes on the property.
12. If it’s a condo or a planned community, find out what the Homeowners Association (HOA) fees are? Some can be substantial. Can you afford these?
13. Look at the bones of the home. A can of paint can do wonders. See what needs to be changed or fixed now and what can be done over time.
14. Put the mortgage in both your names. In most cases, this applies when you are taking out a mortgage from smaller mortgage providers (who in turn might take it from wholesale mortgage lending services). If it is a huge sum of money then the attached terms and conditions might also be higher than other loans. This makes putting the agreement in both your names a good choice.
15. Don’t let a $5,000 or $10,000 difference scare you or prevent you from buying your first home. In the scheme of things, with a 30 year note, you are probably only talking about a few dollars. Your real estate agent can help you and guide you through all this.
16. Finally, be patient. You don’t have to buy the first home you see. Don’t get discouraged. You will a home that suits both of you.
17. And don’t forget to be imaginative and creative in your décor. That can really change the look and feel of your home entirely. Our first home was the ugliest home on the street. No one would look at it…red brick, harvest gold siding, royal blue shutters and doors. Once we went into the home, we realized it was cosmetic. We loved the layout, location, everything but the décor inside and outside. We gutted the inside and repainted, put in new floors, carpeting, and wallpaper. On the outside, we painted the siding white, the shutters and doors black and even painted the brick white. It was a show piece when we finished. And when we went to sell the house, it was quick. We didn’t even have to list it.

Have fun buying your first home. Follow these tips and remember, your home is anywhere you are with your beloved.

Want more tips? Get the latest copy of Premier Bride. Go to www.premierbridems.com