Did you know that 32% of people looking to buy new homes are first time buyers? It can be intimidating to look for your first home — and with good reason. A house is a major commitment, and can seriously affect the rest of your life. While few homeowners end up living in the same house for the rest of their lives in this day and age, most still stay in their first home for an extended period of time. It could be the first house that you share with your significant other; it could be the home in which you begin to raise a family. Alternatively, it could simply be your first big financial commitment in terms of real estate. No matter what your first house means to you on a personal level, you need to be careful when searching for and choosing a home. For this reason — among others — many homeowners choose a realtor to help them with their home search. Of course, while there are many homes for sale on the market, a real estate agent can help you narrow down your options and make a more informed decision. With that being said, let’s look into what you should keep in mind when buying a new house.
1. Search Online and In Person
Thanks to the recent surge in real estate listing sites, it’s become easier than ever for people to begin their home searches online. Many real estate agents now advise sellers to not only list homes for sale in print ads, but online as well. An estimated 42% of potential home buyers begin their search online, while 14% begin by searching for a realtor. The thing about searching online is that it lets you weed out the homes you definitely aren’t interested in ahead of time. This makes the job of looking for a home easier for you and your realtor alike. With that being said, lots of people find that they can get overwhelmed when looking for homes online. This means that they need extra help in the process, and this can come from searching with a realtor. When looking at homes in person, it’s always ideal to go with a realtor. While some homes are for sale by owner, a realtor helps first time home buyers in particular remember what they need out of a home, what they’re able to buy, and how to get the best deal possible.
2. Remember Custom Features
Before buying a home, you should probably make a list of what you want out of a house and what you absolutely need. Some features are purely aesthetic or simply unnecessary; others can’t be negotiated on. You should also consider whether or not the home you end up buying can be renovated in some way. Certainly, some homes are easier to renovate than others. You can essentially customize your house to make it what you want it to be, if you get a good deal on the asking price. Budget does factor into whether or not what you really want out of a house is already there, or can be added on in the future. About 42% of buyers willing to pay at least $500,000 for a home rated the top item on their list of wants essential or desirable. This is comparable to the 15% of people with a budget under $150,000. The bigger your budget, the more ideal your home should be when you initially buy it — this is just a fact of the market.
3. Consider Building Your Own Home
In some cases, none of the homes for sale suit a buyer’s needs. In this case, a realtor can help a buyer look into homes for sale that haven’t been built yet. A new, custom house could potentially have everything you need, and a real estate agent can help you look at pre-made plans and choose from a variety of different options. It is a big undertaking; but it could be your literal dream home.