buying your first home - what you should know

Home-Buying Tips And Recommendations For Your Upcoming Purchase

Buying a home is always an exciting prospect, but now with fixed mortgage rates at an all-time low, the lending costs can be much more affordable for you and make the dream of homeownership closer. However, with the help of a professional real estate agent and some helpful tips, you can find the right home to fit your budget and your needs. Here are some recommendations for you to put in place as you search for to buy your own home.

Use Your Realtor

The home buying process can be a completely new experience, and as such you might not have the knowledge to help you take the proper steps during your search. So, use your real estate agent when you first start your search so you can get their help and expertise in narrowing down your home search, viewing and visiting properties, and arranging for a professional inspection. Your realtor will be able to help you find a mortgage broker and help you fill out the paperwork to submit an offer on the home you want to buy.

Look at Housing Options

When you know what your spending budget is for your home, this can help you decide what type of housing it is that you want to buy. There are many types of housing depending on the area you live in and the location or access to specific areas in your location. For example, there are single-family homes that are detached, semi-detached, or row homes. If you live in a more urban area, you might be limited to multi-unit properties with a flat or apartment condominium where you own the property's interior space but the common areas are managed by an HOA (homeowners' association). 

However, the option of your housing may be limited to one or two types, so you need to evaluate this so you can find the right home that fits in your budget. With the help of your real estate agent, you can check into home prices of the type of housing you are interested in. Then, if you find the homes available are out of your price range, you can adjust your search to a wider area or look at a different type of housing. 

For example, you may find that single-family detached homes in your search area are priced out of the range of your budget. However, when you search for townhome properties that are attached to one or two nearby homes, which can be priced lower than detached homes, you can still have a backyard and your own outdoor space that you want in a single-family detached home.

For more information about single-family homes, talk to a real estate agent today.