There are a few occurrences to see for first-time homebuyers or people who are relatively new to property buying, and we have listed them down for you – in case you are planning on buying your first house soon.
Here is what you should know as a first-time homebuyer:
Don’t Worry About Minor Cosmetic Issues.
Whatever house you sign up for, it is most likely to have some forms of cosmetic issues. Even the home inspection team can give you a list of potential cosmetic issues that the property might have. For instance, you might walk up to a house and think why the potential seller might have painted the house pink.
Or, you might walk into the bedroom and notice the red walls. As a first-time homebuyer, you might not be able to overlook these things and potentially pass up the perfect property for something that could potentially be changed out in a weekend.
So, anytime you plan to go and look at a property, you should be looking at three things:
- The property’s location – this is something you will be stuck with. No matter how much money you have, you won’t be able to change the location. Assess the location and see where you will be signing up to live – will you be living on a busy street or living in a lousy neighborhood?
The location is something you will be stuck with, so you should take it into serious consideration; otherwise, these could be deal-breakers.
Whenever you see a property, you only see it during a certain time of the day – it can be either on a weekend or a Sunday afternoon. Since you have only seen it during a specific time period, it is crucial to see the home location and street traffic at different times of the day (and the night). What could be a quite quiet residential street could be a nightmare of traffic during usual times of the week.
- The floor plan – depending on how much money you have, the floor plan is something that you can change. But at a certain price, things just don’t make sense. For instance, you are buying a property for $300,000 under market value. Maybe it makes perfect sense to change the floor plan, but if you are buying something at the retail level and hate the way the kitchen is laid out – at that point, it might be best to just pass the property and move on.
- Cosmetic issues – these are things that you can change pretty easily with minimal effort. For instance, you hate the kitchen. While a brand new kitchen might cost you a lot, the flooring will cost you less. You might want to invest in small changes when it comes to the house’s cosmetics and render amazing benefits. For instance, you can change the entire feel of the kitchen by painting the cabinets a different color. You might also want to change the wall paint and install new lighting. Small upgrades like these don’t cost you much and can make an enormous difference to the interior space.