Real Estate is one of our oldest industries, because as long, as someone owns, something of significance, there will be conditions, at some point, or another, which attract him, to look at selling it.
Every individual, who buys any home, at some stage must proceed, to buy his first home, and doing this, for the first time, has certain particular challenges, and obstacles, involved, as compared to when, somebody buys their second, third, etc.. With that in mind, this guide will try to briefly, consider, analyze, review, and talk, some smart considerations, when one is ready, to purchase his first house, of his own.
1. Why are you buying, versus leasing, etc? : Begin Having an introspective, goal, review, of why, you want to have a house, rather than continue, your present living arrangements. How has your own life experiences, and/ or expectations, directed you, to this choice? Have you ever considered the responsibilities, and duties of owning, with respect to financial, maintenance/ repair/ renovations, and how, you may feel about doing this?
2. Financial considerations/ planning: Are You prepared for owning a home, of your own? Have you looked, at your finances, and consulted, a mortgage specialist, to think about your qualifications, and ability to get the loan, most need, and need? Concerning financing, you must closely consider, and examine, if you have the funds, for the down – payment, as well as all the necessary reserves, etc.. A few of the reserves, must include: Reserve fund, for contingencies, in the event you have some change in work status (urge 6 – 9 months reserves); funds for immediate repairs, renovations, upgrades, including painting, floors, etc; appliance reserve (for upgrading/ replacing appliances, such as refrigerators, dishwashers. Freezers, cooking appliance, etc; future renovations; future repairs; updates; and major needs, etc..
3. If it’s the latter, then, it might be simpler, to consider, since there are fewer variables! Individuals looking, longer – term, must evaluate, whether they may be well – served, and whether there’s a potential, for adapting the specific home, on this house, for future needs!
4. Location: It is possible to Change many things about a specific home, and property, however, you can’t change its location! Before buying, walk around the neighborhood, and place, see if it meets your needs, and priorities, with respect to schools, amenities, shopping, transportation, security, etc. Check avenue south residences floor plan.