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4 Things to Remember When Buying Your First House

Purchasing a home is a monumental decision for the majority of families. Not only does it mark the transition into a new chapter of your life, it can also require you to be more involved in managing your finances.

But, there’s more to buying a home than sitting down one afternoon with a real estate agent and signing documents. In fact, there’s plenty to keep in mind before you buy your first house.

Read on to discover a few, key things you should keep in mind when you start the home buying process for your first property.

Determine Exactly What You Can Afford

If you’re eager to make the big move into a place of your own, it can be tempting to look into properties that are beyond your means. Some people might even put themselves into significant debt for their dream home.

The reality is that if there ever comes a time when you can no longer afford your house, you can lose it faster than the time it took for you to close the deal.

Therefore, it’s imperative that you have all of your finances in order before making such an involved commitment.

But, you also need to keep an eye on the housing market’s performance if you don’t plan on staying for ten years or longer.

Having a solid home budget saved up or a plan to set aside a certain amount of money each month are steps you need to take in order to avoid running into problems in the future.

Schedule an Inspection

As previously mentioned, people who are eager to get into a new home may skip vital steps of the purchasing process. When looking to buy your first house, an inspection is a must.

If you buy the home as-is because everything in the house meets your criteria, you could potentially encounter issues further down the line.

Although a house may look pristine on the outside, there could be underlying electrical, plumbing, or structural issues that you won’t know about until it’s too late.

Having your home inspected before signing the papers will let you know about any potential issues, allowing you to make your final decision with the knowledge of the entire property, inside and out.

Factor in Your Job

Even if your home is relatively close to your place of employment, the traffic in that area could be awful during your morning and evening commute.

If you’re someone who doesn’t particularly like a long trek to and from work, this is an important factor to consider.

You should also think about how stable your job is. If you’ve been at your current company for less than a year, you’ll have to determine if your job there is stable enough to warrant purchasing a home.

Understand Property Upkeep

A major benefit of renting a house or apartment is that you’re required to do minimal upkeep. You don’t need to mow the lawn, trim the hedges, and if something goes wrong, you more than likely aren’t responsible for fixing it yourself.

When you own a house, however, you’re responsible for everything. While homeowner’s insurance can cover the big stuff like natural disasters, most other issues are in your hands. Setting aside a budget for these matters before you decide to purchase can make upkeep of your property easier down the line.

It can be intimidating to buy your first house. But, it doesn’t have to be! With these tips in mind, you’ll be well on your way to moving into the perfect home for you.

If you found this blog helpful, you might also want to read, The Latest On San Diego Home Prices”.

Want to learn more about what San Diego has to offer? Sonja Huter is a premier specialist of luxury real estatein greater San Diego. If you’re in the market for properties in La Jolla, Del Mar, Rancho Santa Fe and other elite coastal communities in North San Diego County contact Sonja Huter Real Estate today!