After several years working on your first job, you’ve finally moved up the corporate ladder. Along with the increased responsibilities, this also gave you more money to spend or save. If you’re still living with your parents, perhaps it’s time to consider moving out and settling down. But before you can do so, you need to find the right home to buy. This is essentially your first house, your first legitimate step towards adulthood, and your biggest financial commitment to date.
Here are three helpful tips to help you make a smart decision.
Location is Everything
You’re still tied down to your current job, so your first home purchase shouldn’t make traveling to work a hassle. That means you shouldn’t buy a property that would take you three to four hours to get to work.
The location should be your priority. If you’re working in a city where property prices are crazy, you can consider looking for a home in nearby suburbs, as long as you have access to public transport. You’d probably notice how the price of homes is going down as you go farther away from city centers and business hubs. If you don’t have a clear route to work from these areas, don’t let these low prices tempt you, or else you’d end up paying to rent someplace near while paying for your mortgage.
Room to Grow
Granted, this is your first home and maybe you don’t have enough to buy a home you could accommodate a big family in the future. Still, you should consider the space for a growing family, not just for you and your partner. An extra room or two for your future children would be great. You can opt with a smaller floor area and smaller rooms, as long as you have the space ready for them when they arrive.
In the meantime, you can turn those extra rooms into your office space, an entertainment room, a guest bedroom, or even a storage room. To help facilitate searching for these specifications, you can check if your lender’s website allows you to filter your searches with these criteria. For example, a mortgage company in Fort Myers will let you input the number of desired rooms, your ideal floor area, and the location you’re interested in.
Aesthetics is a Plus
Starter homes tend to look the same as everyone else’s: two-toned exterior paint job, a simple, no-nonsense design, and barely any design in the front. You’re lucky if the property has a bit of an enclosed yard, which is great if you plan to have pets or start a small garden.
If there are any aesthetic improvements, like a unique color scheme from every house in the block, or a garden that’s already thriving in the front, that’s already a bonus especially if you got the house for a bargain. What you can do is add a bit of your creative flair to improve the overall look of the house.
For example, if you have plants, you can put them in colorful planters that’s sure to break the bland, two-toned exterior of your house. If your budget permits, you can opt to add a fresh coat of paint before or immediately after you move in.
Buying your first home is an important milestone. Make sure you spend your money smartly to make the most of your investment. Spend time on research and seek help from real estate experts to help you with your purchasing decision.