Advice for Buying Your First Home

Buying your first home is an exciting—and nerve-wracking—decision. There are many factors involved in choosing a home, from its price to its location and featured amenities. With so much to consider, the search can be overwhelming. Keep this advice in mind as you prepare to look for and buy your first home.

Be realistic about what you can and cannot afford. This seems obvious, but the reminder is important. As you begin your home search, have a clear, well thought out budget in mind so you can stick to it as you look at properties. You will not put yourself in a favorable financial position in the long run if you exceed your home budget. As you make your list of wants and needs in a home, always keep your budget in mind.

Home AuctionConsider location with care. As many people say, you can change a lot about a home, but you cannot change its location. If you plan to grow into a home and expand your family, your location preferences may change in time. Keep this in mind as narrow your home search to focus on select areas. It can also be a good idea to do a test drive from a preferred neighborhood to your workplace at a peak commuting time, for a realistic sense of the commute. Other factors for location may include proximity to other family, a recreation center or gym, and frequented grocery stores, doctors, and businesses.

Always work with a buyer’s agent. The home buying process is complex, involving a great deal of paperwork and communications with a number of different service providers. A buyer’s agent is there to guide you through every step of the process, from the very beginning of your home search through the home closing. Another bonus of working with a buyer’s agent is that they know the local real estate market very well. They can also help connect you to properties that may just be coming onto the market, giving you an advantage.

When you are ready to buy your first home, work with the real estate professionals at the O’Reilly Team. We are here to help you through your first home buying experience.