First Time Homebuyers – What to look for when buying a home
The decision to buy a home can be easy to make, but it is the process that goes into it that probably stumps people. The typical age for a first time home buyer is 31 years, while that of a repeated buyer is 53. Additionally, about 33% of the home buyers in 2016 were first time home buyers. 12% of home buyers choose to read through online information before making a home purchase and 43% of the buyers made use of internet to search for homes as their first step. Keeping this view in mind, it would be a good decision for people to digest the process that is involved in the home buying process. This would save them the time and energy invested in making a purchase.
The process can be shortened in three simple steps:
- Location scouting
- Housing market conditions
- Getting a mortgage
Choosing the location
The right location is probably one of the most crucial steps in buying a home. One of the first steps would be to do a comparative study of the different communities and neighborhoods, and find the one that is best suitable for the home buyer. For example, a young family with school going children would prefer to settle in a neighborhood with good schools, parks, zoos and other facilities, whereas a family with grown children will have different preferences.
Learning about the local housing market condition
The home buying process also involves learning about the local housing market conditions. To know about the market conditions about a particular community, one would have to seek the assistance of real estate professionals operating in the area. This would give the homeowner an idea of what appreciation he can expect with his area once he buys a home there. Viewing the market conditions would let him know what are the best areas and neighborhoods and whether buying a home would be the right decision or not. We also suggest subscribing to your local politicians newsletters via email and sitting in on some community meetings.
Getting a mortgage
A competent real estate professional will be able to refer you to a decent mortgage company. We suggest doing your own research as well. A quick Google search will bring up tons of local mortgage companies in your area. The best way to find a reputable mortgage company is to talk to people you know that have recently bought homes and see what mortgage company they used and find out how was their experience. A mortgage professional will be able to inform you of the qualifications needed for a mortgage.
Going about these tasks with the help of a reliable real estate agent would make things easier. Hire a professional real estate agent in Houston. They will help you throughout the process. First time home buying is an exciting journey makes it memorable.