Pay Attention To These 3 Factors If You're A New Homebuyer

Posted on

Upgrading from an apartment to a house can be an experience that can be more complicated than it seems at first. It is so easy to remain focused on what the bedrooms look like and other spaces inside the home that you can forget to pay attention to other factors that may prove important in the future. Pay close attention to the following things when you're shopping for your first house.

Your Mortgage

A lot of first time buyers wait until they find a house for sale to talk to a mortgage broker. This can be a mistake because the lender might very well inform you that you are not approved for a house of a certain price. To avoid getting your hopes up only to have them dashed later, take the time to secure a mortgage from a reputable lender before everything else. That way, you can narrow your home search to those houses that you know you can afford; when you finally find a good one, you will have a better shot of owning it.

Possible Repairs

While most sellers are honest about repairs and problems with the house that you may be responsible for when you own the place, it can be hard to be sure that they are telling you everything. A good idea is to have a professional home inspector take a look at any house you're seriously thinking about purchasing. They can talk with you about what you might have to fix and they may find problems that the seller doesn't even know about.

Land Description in Deed

One thing that many new homebuyers overlook is the land that goes with the home. Other than casting a glance at the backyard, they don't measure the land or inspect it very much. This can become an issue after you buy a house, as you might want to add a new fence or an addition on your house and discover that the land is not legally yours. Previous owners could have made a deal with past neighbors, but that agreement may not be reflected on the official deed.

To check this out for a house you're considering, talk to a town records clerk about finding the most current deed for the property, which is an open, public record. Read the section titled "land description" to find out the boundaries of the property. You might want to get a surveyor's help so you can be sure that the deed is in line with any current fences or improvements on the property. If not, you can have the language changed on a new deed if you buy the house.

When you're able to use the information here to make better decisions during the homebuying process, you will be proud of the work you've done to find a home. Ask your realtor for more pointers.