I had been house hunting for about 2 years when I found my house. I started looking around as soon as I knew I’d be buying one “within the next few years” just so I could watch the market and try to learn anything I needed early on. (Note: You’ll learn the most when you’re actually going through the buying process. It’s a tingly slap in the face.)
If you’re house hunting I’d highly suggest making a “What’s Most Important to ME” list! (Or us if you have a significant other.) For me I wanted a location near “stuff” like restaurants, shopping, and a market. Typically you can find nicer homes for less money the further you get away from “stuff”. (Keep that in mind if you can’t budge your budget but need MORE.) I also needed a large bedroom/room to have my studio in. These were my top 2 priorities.
Sadly I did not find anything within our original budget that fit both of my requests. Thankfully because of the “coming within the next few months” circumstances I was able to raise my search by $20,000 and then I found my mini-dream home.
Estimating cost of a home:
Be sure to put together a cost average that includes everything about your new home, and then add some. Utilities, mortgage, PMI (should you have it), cable, internet, home owners association fees?, and any possible services. Should your home have a pool, I’d say add a minimum of $80 a month. You’ll never quite know the cost until you “jump in” to being a pool owner, but there is cost on top of responsibility. I’m happy though since I wanted one for my mother who has shoulder problems. it’s wonderful therapy.
Expecting the unexpected:
As a first time home buyer I was kinda hoping there would be no repairs within the first year. However, that’s not a good way to think. There hasn’t been anything major for me (thankfully) but it’s more important to think what could happen and just be sure to have resources to fix whatever disaster may come along. (But hopefully doesn’t!)
no comments