Buying Your First Home? Here’s What You Should Know
A significant investment like a home requires a lot of thought and analysis.
Your First-Time Home Buyer Checklist
Any big plans for 2019? We’re almost a month in but and you might already be working towards some major goals. Maybe buying your first home is one of them.
A home is a large —probably the largest— investment you’ll make and it is indeed not a decision you want to rush into. Many things need to be carefully analyzed before actually buying a home but sometimes, there is so much going on that you might quickly get overwhelmed and end up overlooking a few important aspects. Here are some of the most important things you should consider before buying your first home.
Thoroughly Inspect Your Home
Inspecting your home is an incredibly important step in the home-buying process. That is not where you want to save money. Pay to get your potential home thoroughly inspected and make sure nothing is left out. You must know everything about that home before you decide to buy it. If you find any issues with the house, you can use that in the negotiation.
Find Out How Long It’s Been on the Market
Depending on how much time the house you’re looking at has been on the market, you may either want to make an offer quickly or maybe look at the price history, if it’s been on the market for too long before you consider making an offer.
Check on Price Flexibility
It never hurts to ask the seller how flexible they are willing to be on the price before you make your offer. That will keep you from going too low, and risk offending the owner. It also lets you know if you have room to negotiate.
Ask for Documentation on Mechanicals
It’s essential that you know about any mechanical or any other kind of updates that might have been done to the house. Ask the owner for all the information you need regarding those updates.
Do a Final Review
If you’re inclined to purchase the property, take some time to do a final walkthrough of the property before buying it. Check for things that might need to be repaired or removed before you close the deal.
Bundle and Save
Bundling your home and car insurance is a great way to save money. You might also want to look into getting umbrella insurance. Talk to your agent at AAI Central Agency for more information or if you need any help deciding which policies work best for your insurance needs.