Things to Keep In Mind While Buying Your First Home
Becoming a homeowner is huge, but one thing is sure, when bought with careful consideration, it can ensure a secure financial future. Buying your first home requires a lot of research because, without the research, your first home could prove to be a dead loss in the long run instead of being a home of many happy financial returns.
Full-service real estate agent
When buying your first home, do you have time to thoroughly vet the neighborhood or the new city you want to move to? Do you even have time to find out what the area’s local market value is? How do you even start to buy residential property that can boost your investment portfolio?
You’ll also need to know what certificates are required to register a house in your name.? It is why Costa Rica Real Estate works so well for those looking to start a new life in Costa Rica. Blue Water Properties is a full-service licensed real estate agent who finds a home close to pristine beaches and who offers excellent customer services to all clients looking to buy a home along the Gold Coast of Guanacaste.
The right area
If you’re looking to buy a new home, you want to be 100% sure that you buy in the right area. If you’ve got kids, you will want to find an area close to good schools and a place that offers decent public transport. You don’t want your kids to be cut off from the things that are important to their development.
If someone is sickly in your family, you want to be sure that the home that you buy is close to good doctors and clinics. In other words, you want to find a home that is conveniently situated close to important amenities and which fulfills all your requirements in terms of position and space.
Have a deposit ready
Even when you are young and starting to work for the very first time, save diligently each month because you will need to put down a deposit. This is a wise move even when you believe you will be eligible for a 100% loan.
The more you put down, the less you will pay in monthly installments. Be a wise buyer and make every effort to find out about things such as transfer fees and conveyancing fees. It is always a good idea to have extra cash around as there are always additional costs when buying a home for the first time.
Know your home-type
When considering your first home, you want to at least be sure of the kind of home you want. What suits your style as a single person, a couple, or a family? Does the thought of a large home with large grounds appeal to you? Maybe you’re escaping from somewhere where you had security issues and you’re now looking for a chic condo.
Maybe the thought of a small beach house is even more appealing. What can you afford? Before you contact the real estate agent, make sure you’re settled in your mind about what you want. Just because you have a home loan, it doesn’t mean you have to use it all up on your first home.
Don’t rush into any deal
Buying a home for the first time is a huge financial investment and you want to get it right. You need time and you can’t be swayed by everyone’s opinions. Do your own personal research and be sure of what you want.
There are lots of costs involved with buying property and you may even look at homes and think some of them will require an upgrade. There are so many costs to consider with a new home. An agent can at least be a guide on what the monthly utility costs will be, what local taxes there are, and what other financial commitments you will have.