7 Lessons from a 1st Time Home Buyer

Homeownership has traditionally been a life goal for most, and, after a fall, it's on the rise again in the US. If you're looking to buy your first home, here are some tips from others homeownership experiences:

1. Take your time

As a home buyer, you want to find a property that you really like, but at the same time, you should avoid getting carried away and not completing your research. This is especially important if you’re moving into a property that’s very different from your previous one. If you’re in the market for a home where you’ll raise your family, then consider their needs as well, so they can appreciate your decision when they grow up. Sometimes, it takes multiple visits before you can see the benefits of a property.

2. There are cheaper lenders

A small difference in interest rate will add up over the life of your property. So, don’t be afraid to provide your financial history to as many lenders as possible. Also, don’t hesitate to negotiate a better price. You’ll be surprised how many lenders will give you a better offer if you ask for it. If you’re getting pre-approval, like property browsing, don’t get carried away with the pre-approved amount. Decide the budget you’re comfortable with and stick to it regardless of how much you get approved for.

3. Estimate furnishing costs

House furnishing is one of those areas where the core costs sneak up on you. The sofa that you like cost a bit more than your budget but you go for it anyway. Here is a guide for estimating furnishing costs by Happho. By planning ahead, you can stay closer to your overall budget!