There are costs, risks and responsibilities to be aware of when becoming a homeowner.
Buying a home is bound to be among the biggest investments any of us make and so getting a home inspection is one of the crucial steps in the decision-making process.
But there are other things to bear in mind too. For example, it’s best to get pre-approved for your home loan. Anyone can get pre-qualified for a loan but getting pre-approved means your lender has looked at your financial information and deemed how much you can afford and how much you can be lent.
It will not only save you time because you won’t have to be running around looking at loads of places you can’t even afford but also you will find you have significant muscle in the marketplace because the person you are buying from will know you can afford the property.
And remember when you are making your choice that you are buying a house – you’re not just dating it. If you base your judgement on emotions alone you could end up with a broken heart. Prefer to go with your instincts, because it will give you a better measure of whether the house is going to be good value. As it’s an investment, it is best to stay wise and calm and recognize that although the house can change to suit you, the location is bound to stay the same.
With this in mind, it’s, therefore, a good idea to stalk the neighbourhood so you get to see it in all its guises – in the morning, afternoon and evening.
By driving by at various times you’ll see what’s happening during the day. You don’t want to discover that that calm, cosy little nook actually turns into a throbbing night spot with loads of youths taking over the streets at night.