If you’re thinking about buying your very first house you may not know exactly what to expect. Buying real estate can be a very scary thing, especially if you’re very young and you don’t have much experience with the whole process.
The first thing you need to do is find a reputable agent to help you through all of the stages of buying your home. Twin Vew Condo real estate agents are also brokers, which sometimes helps with the whole loan process and keeps it just a bit less complicated. Most people have a friend or relative in the business because it truly is a very popular career choice.
After you find your agent, you need to find out how much house you can really afford. Some people see a beautiful home for sale on the block and not realize how much the mortgage is going to be. One thing that first time buyers don’t realize is that not only do you pay the basic mortgage, but there are also taxes and insurance costs to add to the monthly total.
If the house has been previously owned, it’s pretty easy to find previous tax records to find out how much the taxes are, and most of the time the taxes are listed right on the MLS listing that the real estate agent provides to you.
You can find out your insurance cost by calling your own insurance agent, which may be the agent you have your car insurance through. A lot of times, when you combine your car insurance with your homeowners insurance, you can get a bulk discount rate.
Additional costs that you will incur when buying a house would be the closing costs at the close of the sale, an inspection fee so that you can have the house inspected before you close on the house to make sure everything is in proper working order and there are no major flaws with the house, and you may also need to have a down payment for the house. However, there may be some first-time home buyer programs available that would minimize that down payment.
After you find out how much house you can afford, then you can really start looking. Your real estate agent will be able to build a customized list of houses based on what you are looking for with parameters such as cost, how many bedrooms and bathrooms you would like, and what county it may be in.
The fun part comes when you go out looking at the houses. You should plan to spend a whole day with your agent looking at the houses you picked off of the list provided to you. However, when you look at several houses in one day, sometimes the memory gets a little foggy and you may not remember one from the other so it’s a good idea to take notes and maybe even some pictures so you can remember clearly what the high points that you like about each house you visit.
Even though the home-buying process can be very stressful, it can also be a lot of fun, and of course it’s exciting to be able to call a house your own and truly make it all your own.