Buying a house thoughts
Start writing a post
Life Stages

Food For Thought When Buying A Home

When buying a new home, here are some things to keep in mind as you move forward.

88
Food For Thought When Buying A Home
Photo by rawpixel.com from Pexels

You might not really think about what all is involved when buying a house, not at least until you are faced with it all and, it can be a little overwhelming. I know for myself, as a second time home buyer, there are still things that hit me in the face like a tree branch when trying to make decisions. Ultimately the people you should lean are for help, advice, any and all questions is that of your lender and realtor. But, take it from me it doesn't hurt to do some of your own research as well just take everything with a grain of salt and consult the professionals.

First things first. Understand your finances.

Save Money

Photo by rawpixel.com from Pexels

You have to know what you can and cannot do when looking to buy a new home. This is not just referring to the price range of the home itself. There is also the closing costs, the costs of paying for an inspector, and then if you already own a house, you need to remember to take its mortgage and utilities into consideration if you don't plan to sell it before you buy another place. I believe the safe rule-of-thumb is: your take-home income should be three-times what your predicted rent/mortgage and utility payment will be.

Choosing a Realtor.

Realtor

Photo by Lukas from Pexels

Second of all, when it comes to choosing a realtor to either sell or help you buy a home. Do not, and I repeat, do not settle for the first realtor you speak with. Take some time, do some research on your area or the area in which you wish to buy. Check reviews and, don't be afraid to treat it like an interview process. You want to make sure you are working with someone who has your best interests in mind that listens to your wants and needs and is proactive. You shouldn't have to do most of the house hunting yourself. But ultimately find someone you're comfortable with.

What are you looking for?

Floor Plans

Photo by JESHOOTS.com from Pexels

Take time to understand what it is your looking for and what meets your needs. Then, think about what level or amount of deviation from these wants and needs you would be willing to accept. Remember, already built homes were built by someone else and likely is designed after their needs or wants. I haven't found a home that didn't have something I would change or remodel.

Negotiate

Negotiate

Photo by rawpixel.com from Pexels

Don't be afraid to haggle with the price. In a lot of cases, the seller will take what they absolutely have to sell the house for, the estimated worth of the home and then add a little. I owed $83k left on my previous mortgage, the home was estimated to work $100k, and I put it on the market for $115k. This gave me room to haggle with potential buyers. But besides that, you can ask for the seller to pay your share of the closing costs; this is especially important to remember if you're in a situation where you cannot afford those costs out of your own pocket. Or you could ask them to split the cost, or request certain repairs to be done and you'll offer this, the list goes on. But, in the end, again, take advice from your realtor.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Student Life

Waitlisted for a College Class? Here's What to Do!

Dealing with the inevitable realities of college life.

57809
college students waiting in a long line in the hallway
StableDiffusion

Course registration at college can be a big hassle and is almost never talked about. Classes you want to take fill up before you get a chance to register. You might change your mind about a class you want to take and must struggle to find another class to fit in the same time period. You also have to make sure no classes clash by time. Like I said, it's a big hassle.

This semester, I was waitlisted for two classes. Most people in this situation, especially first years, freak out because they don't know what to do. Here is what you should do when this happens.

Keep Reading...Show less
a man and a woman sitting on the beach in front of the sunset

Whether you met your new love interest online, through mutual friends, or another way entirely, you'll definitely want to know what you're getting into. I mean, really, what's the point in entering a relationship with someone if you don't know whether or not you're compatible on a very basic level?

Consider these 21 questions to ask in the talking stage when getting to know that new guy or girl you just started talking to:

Keep Reading...Show less
Lifestyle

Challah vs. Easter Bread: A Delicious Dilemma

Is there really such a difference in Challah bread or Easter Bread?

37244
loaves of challah and easter bread stacked up aside each other, an abundance of food in baskets
StableDiffusion

Ever since I could remember, it was a treat to receive Easter Bread made by my grandmother. We would only have it once a year and the wait was excruciating. Now that my grandmother has gotten older, she has stopped baking a lot of her recipes that require a lot of hand usage--her traditional Italian baking means no machines. So for the past few years, I have missed enjoying my Easter Bread.

Keep Reading...Show less
Adulting

Unlocking Lake People's Secrets: 15 Must-Knows!

There's no other place you'd rather be in the summer.

958942
Group of joyful friends sitting in a boat
Haley Harvey

The people that spend their summers at the lake are a unique group of people.

Whether you grew up going to the lake, have only recently started going, or have only been once or twice, you know it takes a certain kind of person to be a lake person. To the long-time lake people, the lake holds a special place in your heart, no matter how dirty the water may look.

Keep Reading...Show less
Student Life

Top 10 Reasons My School Rocks!

Why I Chose a Small School Over a Big University.

192035
man in black long sleeve shirt and black pants walking on white concrete pathway

I was asked so many times why I wanted to go to a small school when a big university is so much better. Don't get me wrong, I'm sure a big university is great but I absolutely love going to a small school. I know that I miss out on big sporting events and having people actually know where it is. I can't even count how many times I've been asked where it is and I know they won't know so I just say "somewhere in the middle of Wisconsin." But, I get to know most people at my school and I know my professors very well. Not to mention, being able to walk to the other side of campus in 5 minutes at a casual walking pace. I am so happy I made the decision to go to school where I did. I love my school and these are just a few reasons why.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments