Home Buying 101: 7 Things to Consider When Buying a Home

Ask any first-time home buyer about their home buying experience and they'll no doubt tell you that they learned a lot of things throughout the process that they wish they had known in advance. Had they had the knowledge before they started shopping for their homes probably would have helped them avoid several of the obstacles they were forced to deal with.

If you are in the early stages of looking for your first home, or you're planning on moving to a new home soon, then here are ten things to consider when buying a home courtesy of our home builders in Wilmington NC.

#1 – All of the Old Advice is True

There are certain pieces of advice that have rung true throughout the ages when it comes to buying a home. They include:

  • Make sure your credit is as good as possible before applying for a mortgage
  • Save as much money as possible for the down payment (a minimum of 20% of the home's price)
  • Save as much money as possible in an "emergency fund"
  • Only buy as much home as you can afford and not more

 

#2 – Create Two Checklists: Must-Haves and Nice-To-Haves

There are things you're going to need in your new home and there are things that you would like to have, but that aren't exactly essential. Make two lists categorizing each and print them out. Then, take the lists with you when looking at properties. Use the list to rule out those homes that fail to provide you with most of your must-haves.

#3 – Think Long-Term

If you find a property that meets your current needs, take a moment and think – will it still meet your needs in the future? For example, if you want to have another baby, will the home be able to accommodate your family as it grows? Is the local school district good? Is the street safe for children? Likewise, if your children are older and getting ready to leave the nest, will the new home be too much for just you and your spouse?

#4 – Consider All of the Expenses When Deciding Your Home Budget

How much house can you afford? Well, in order to answer that question accurately, you have to consider all of the expenses that go into owning a home, not just the mortgage payment. Make sure you also take into account the costs of taxes and insurance, utilities, the cost of commuting, and any immediate upgrades.

#5 – Get to Know the Neighborhood Before You Buy

Once you sign on the dotted line you not only get a new house, but you're also getting an entirely new neighborhood. Therefore, you will want to know what you're getting into before you go all in. Do some research to learn about the neighborhood demographics. Is the community made up of mostly single people? If so, will it be a match for your family's lifestyle?

#6 – Don't Make a Buying Decision Based on the Property's View

If you find a property with a view to die for, you might be prompted to buy the home simply because the view can't be beat. But, landscapes can change over time and that lush field of wildflowers that once caught your eye could at some point in the future be bought up and turned into a shopping center. When shopping for homes, don't make a buying decision based on the view unless you're also buying the land where the view lies.

#7 – Don't Buy a Home Based on the Staging

When you look at a home, you need to look beyond the staging because once the deal is made, the staging goes away and you're left with a blank slate. Consider the layout of the house instead of the presentation on display.

Trusst' Builders in Wilmington NC are Here to Help

Trusst Builder Group has home builders in Wilmington NC who will work with you and within your budget to help you get the best possible home for your family's needs. We have homes in some of the most prestigious communities in the Wilmington area or, if you prefer, we can build the custom home of your dreams on the land of your choice. Visit Trusst Builder Group today or call us at 910-371-0304 to schedule a consultation.