Helpful Information by Mountains To Sound!
If you still remember your first home buying experience, you probably know all too well how strikingly emotional that event in your life was. We know it wasn’t an overnight journey but it wasn’t really a relaxing time either. Here at Mountains To Sound Home Inspection, we listed down four major dilemmas first-time home buyers went through.
Yes, buying a house is perhaps the biggest purchase one could ever make and so it’s no wonder how it brings to light a roller coaster of emotions and wild thoughts too! Trust me, we all faced a major dilemma at one point and buying a house can be one of them.
But, what exactly do first time homebuyers go through? Was there an easy way out? Or did they really go through a lot? Well, I say just read on. Embrace the pressures of home buying for all it’s worth!
With our years of conducting home inspection services in Seattle, WA, we’ve heard many homebuying stories that we all can relate. Below are the four of the most common dilemmas faced by first time buyers.
How to Save Up
Unless you’ve got a big pot of gold on hand, why not just buy your own home, right? Kidding aside, saving up for a home can be one of the toughest things to do, under certain circumstances. Taking a break from all the monthly rent is actually a good idea but might not come easy for most. What you need to do is plan ahead what type of house you want and try to research how much is it according to the current market conditions. It also pays to take note of the minimum down payment so you can have time to keep up with your regular monthly savings while still being able to make ends meet. There are helpful resources online. Figure out how much mortgage and real estate fees are and try to save above that figure.
Fixed vs Variable Rate Mortgage
Your mortgage rate will most likely depend on your current financial circumstances, of course. With a fixed rate mortgage, your repayments will stay the same so you have a rough idea on how much you’ll be paying monthly. Variable rate may go up or down but it has benefits too. One is that you can make over payments or switch out without facing any breakage fees.
Which is which? House or Apartment?
We all have dream homes in its perfect dream location. But, if you can’t afford one, buying an apartment is actually a good option. If you are still young, building up your career and making the most out of your social life, an apartment can provide you a safe haven between work and personal life. But if you are the one who’s opting for a more kid-friendly environment close to local schools, buying a home now could really pay off. Again, still depends on you.
Newly built? Or One I Can Revamp?
Still depends on your preferences but on a financial scale, you can actually get a lot more house for your money if you can take on a house that needs a new love.
Older homes tend to be more situated in local parks, greener areas and wider roads. However, they need more care too so maintenance can be a bit costly.
With new homes though, the BER energy rating is a major standout. This means, you’ll have better savings on your utilities.
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