Have you dreamed of the day you take that first step into your new home with your family, knowing you’ll make wonderful memories there? From watching T.V. together in the living room to baking cookies in the kitchen and even spending long summer nights in your beautiful backyard. But before having this dream come true, there are some things you should consider before buying a house!
Take a Look at Your Finances:
And by take a look, we don’t simply mean to take a quick glance at your bank account and kind of guess if you can purchase a house or not. Start by adding up every source of income that comes into your checking account each month and then write down your monthly expenses. After seeing how much you have left, you can start doing your math. Try to keep your mortgage payment to no more than 25% of your monthly take-home pay on a 15-year fixed-rate mortgage. And don’t forget to save some extra money to cover regular maintenance, future home improvements, and furniture replacements.
Don’t Buy For The Life You Have Today
Life happens, and unexpected curveballs can make your life change in a blink of an eye. Before buying a house, consider your long-term plans. Will you be staying at your job for the next 10 years? Planning on tying the knot? Expanding the family? Or are your children already leaving home? Have this in mind before buying a large home or a small one as well.
Buying Vs. Renovating
Have you considered the cost of buying a new house versus renovating your home? If you don’t currently have a home to sell, the decision is easier. But if you are thinking of selling in order to buy a new home, have you weighed your options? When renovating, it’s true that you will likely spend a lot of money and sometimes things don’t go as planned. And when buying, finding that perfect home is also tricky and can take up to years. So, ask yourself, do you really need to buy a new home or is it just the idea of wanting a fresh, new space that you can easily achieve by renovating?
Don’t Judge A House By Its Paint
When searching for a new home, there’s always that one room that you dream of changing and that’s not bad! But, don’t let these kinds of things move you to reject a great house that has potential. Remember that it’s fairly inexpensive to fix cosmetic issues. Always factor in any cost before buying a house, especially if it needs a little pick-me-up.
Use a Great Realtor
NEVER try to walk into a deal without a real estate agent or broker! Agents are held to the ethical rule that they must act in both the seller’s and the buyer’s best interests. And not only are they there to help you find your perfect home, but they can also get to know what you are specifically searching for and narrow down the houses for you.
5 Things You Should Consider Before Buying A House Review
Whether it’s the first time you are looking for a home or you are in need of some great real estate tips, our blogs can help you with this. And if you are looking for your future dream house in the Calabasas area, contact Yoav Astman today.
