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You are here: Home / Featured / Buying First House Things To Consider

March 16, 2017 By ronr

Buying First House Things To Consider

Buying First House Tips & Tidbits

Buying first house? Congratulations! You’ve made one of the most important and hopefully the best decisions of your life. The decision on buying your first house is huge . You’ve saved your money, evaluated your finances, personal situation, needs, and you have  decided that, it’s time! Well, as  a Licensed Real Estate Salesperson, in New York State, for over a decade, I have counseled many potential buyers.  Some of them were ready and prepared , others  weren’t.
I feel  it would be helpful, for potential buyers especially, those who are buying a first house to have some sort of simple, basic, guidelines. Like, some of the considerations  they should make  when buying their first home. Using the mnemonic approach, let’s review some of the relevant aspects  to consider when it comes to buying first house.

Basics and benefits of Buying Your First Home

What are the basics of buying your first house? First, evaluate your personal situation  in terms of ability to make the necessary down-payments  without over – stressing. Then, consider your monthly financial needs like  mortgage principal, interest, escrow, taxes, emergencies, as well as a reserve for  ongoing maintenance.
buying first house
If these work out for you  then, consider whether your needs are met  with a particular house in terms of the home itself, the neighborhood, neighbors, schools, conveniences, commuting, and/ or any other factors which are of  importance to you.  Will you enjoy the benefits,  will they outweigh any possible fears, or change / expand your comfort zone?

Usefulness, uniqueness of First Home Purchase

What is it about this particular home that attracts you so much? Is there some unique factor or combination of factors? Will the combination of features be useful  to your needs? How usable will the home be  in terms of your personal requirements and priorities?

Buying a first home is a very personal decision.  It’s great to get the opinions of others  but, remember  you and your family will live in it  so, be certain and remember it’s all on  you!
Intents & issues With Buying First House
Are there any issues and  or concerns  which might deter you  from buying this particular home? Are these major  or deal – breakers?  Or, can they be easily addressed? Focus on the intents of how you will use this first  house, and whether it will satisfy your needs.

Needs; numbers; neighborhood; neighbors: Does buying this first house fit your needs  or would it? Have you reviewed all the relevant numbers  related to economics, finances, and affordability? Is the neighborhood in a location  you would enjoy living? How  convenient is  in terms of its location  as it relates to transportation, commuting, schools, safety, etc? Before making your final decision  make the effort to speak to some of the neighbors  to see if you’d like them to be your neighbors.

Greater – good; guided: Do the pluses and / or assets  far outweigh any negatives?  Would you consider the purchase  to be  a greater – good? Have you looked extensively?  Are you guided by a combination of needs  as well as affordability  and  condition  as indicated by a Home Inspector?

Buying a  house for the first time  is a great step forward especially  when it’s done carefully and properly.  Hopefully,  these above considerations  will assist you to make  the best decision when buying your first house.

Source by Richard Brody

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