Purchasing a home is one of the biggest decisions you can make in your life. It’s an exciting process, but it also requires a great deal of thought and consideration. As you begin looking for the perfect home, there are several questions that you should ask yourself before deciding to purchase. This blog post will provide tips and questions to consider as you embark on this journey.
What Can You Afford?
It’s important to remember that when buying a home, saving up for your down payment should be at the top of your list of priorities—even if you plan on taking out a loan or using other financing options such as grants or gift funds from family members. Depending on where you live and how much money you have saved up, down payments can range anywhere from 3% – 20%. Saving up enough money for this initial payment will ensure that your finances remain in order throughout the entire process.
One of the most important aspects of purchasing a home is ensuring that you can afford it. Before you start looking at houses, understand what your budget is and how much money you can realistically spend on monthly mortgage payments. You should also be aware of any additional costs, such as taxes and insurance premiums so that you have an accurate picture of how much owning a home will cost each month. As your local Maple Valley Realtor, we will provide you with referrals to trusted lenders that will help you understand your options in financing.
What Do You Want in A Home?
From wants to needs, it’s important to consider what are items that are “must haves” in a home that are non-negotiable and what are items that are “wishes” that you can live without in a home. The inventory of houses on the market is finite, so often you will have to be flexible when it comes to finding a home that checks all of the boxes on your list. Another option to consider if you aren’t finding homes that match enough of your needs is looking at new construction that you can customize to meet your needs.
Niche gives a great perspective on this as well, stating “your perfect home isn’t out there because you haven’t created it yet.” It is important to remember when considering what you need or want, what are things that you can change in a home and what are things that you cannot such as location, etc. For more great tips by Niche, you can read more on their blog by clicking here.
Purchasing a home is an incredibly exciting experience but it’s important not to rush into anything without doing your due diligence first! As potential home buyers, there are many questions that must be asked before making this big decision—from understanding what monthly payments would look like to reflecting on what you will need in a home—all these factors play into finding the right home. Whether this is your first time buying or just another step in the homeownership journey, remember to take your time and that as your local Realtor we are here to help you every step of the way!
Reach out to The Amber Bills Real Estate Group for more ideas! We are your local Maple Valley contact for all things real estate. email@example.com 425-281-0373 www.amberbills.com
We can assist you with lender referrals as well – call, text or email anytime!