Tired of noisy neighbours? Tired of your landlord’s tantrums? Want to fulfill your dream of owning a dream house? Irrespective of your reason for planning to buy a home – taking this big step requires extensive planning and preparation especially if your eyes are on apartments in Birmingham AL. Wonder why? Well while holding the keys of your own home is big achievement, but remember you do not want to do this at the cost of all your finances. After all, home buying is not the end. Rather it is the beginning of some new responsibilities; which is why you need to be financially secure and aware about the aspects related to home buying.
Remember home buying for most of us is the biggest achievement. So, instead of making an impulsive buy, you should have a calculated approach. Here is a rundown on some tips you need know.
- Well, most of things we do in our lives require training. The same logic applies in first-time home buying also. Attend the first-time home buyer seminars. Many non-profit organizations offer these seminars. These seminars will provide you training on home selection, financing and maintenance. And what’s the best part – most of these seminars are free of cost.
Remember making a wrong decision in buying a home will continue to haunt you for many years. To avoid such a situation, taking a bit of training from these seminars is a wise decision right?
- Choosing a 5 bedroom house only to leave it later due to huge price – not a good idea indeed!
Home buying is a major investment. And this is precisely why you need to be exact about your budget. Most home buyers do the mistake of considering only the home price. Well, this is not correct. In addition to the home purchase amount, do take into account your monthly house expenses. For instance – monthly home loan payment, home maintenance fees, electrical costs, utility bills, taxes etc.
Remember you need to pay the above-mentioned costs from your monthly savings.
So if you find the estimated monthly home expense more than your savings, – it’s time that you reconsider your other expenditures (shopping, eating etc.).
- Let’s admit it – when you have a small budget, you need to make certain compromises. And this is precisely when a prepared list of home features come into the picture. Knowing what you want in your house will make it easy for you to select and zero in on a house.
Note down the features and facilities that you want in your house. These could be anything like – proximity to schools and shopping hubs, locality, number of bedrooms etc.
Take this list with you when you go for the home tour. Write down the positive and negative features of each house – compare them later with your list of house needs.
4. Research about the neighborhood. Most real estate professionals give maximum importance to neighborhood/locality. A home in a good locality will give you several benefits. After all you wouldn’t like to live in a locality noted for its crime incidents, right?