For some folks, there’s nothing better than being a homeowner. After all, there’s a certain pride to be had in owning your own home, fixing it up and really putting your stamp on it. In 2019 alone, it was estimated that the homeownership rate was more than 65 percent and 31 million Americans move every year.
But make no mistake: if you’re looking for a starter home, it’s going to likely be one of the most important, and most expensive, purchases you’re going to make in your lifetime. Even if you have grand visions of what your dream home is going to look like, you’re not going to get there overnight.
If you’re looking at new homes and wanting to own your own home, these tips can help you in your quest:
Be Practical
If you’re looking at new homes as your search for a starter home, you can avoid a lot of mistakes by approaching the process from a practical standpoint. It’s easy to get excited by the possibilities a particular home may offer, but you don’t want to let your emotions cloud your judgement. Ultimately, you want to get a home that you can afford.
If you’ve been pre-approved for a mortgage, you might be tempted to shop based on the full amount you can borrow. But by doing that, you might put yourself at a disadvantage by taking on payments you can’t afford. Conventional wisdom says you should find a home you can purchase for five to seven years to recoup the upfront costs.
Consider Your Lifestyle
When considering how new homes will jive with your lifestyle, not all homes are created equal. It’s easy to think about what the inside of your home may look like, but don’t forget the outside. Think about how far you are away from family and friends. Think about how far you are from your job and far you might be from vital stores.
Think About The Future
Amidst the excitement of looking at new homes and eventually being your own starter home, you might not be thinking too far ahead. But not thinking 5-10 years down the road can be a mistake. If you’re single and buying a home, consider that in the next 5-10 years you may get married and have children. You may also want space for family and friends to stay. Ultimately, you want to make sure you’ve got enough space for now and for five years from now.
What’s The Property Look Like?
If you’ve ever seen any home improvement show on TV, you know that these shows make home improvement and home renovation look incredibly easy. But that’s not always the case. As you look at new homes for sale, you want to take a look at the condition of homes and the surrounding property.
You’d do yourself more than a few favors by buying a start home that doesn’t require a tremendous amount of upkeep. You can always make improvements and do renovations in the future, but you don’t want to be doing DIY projects from the get-go.
There’s no doubt that home ownership can be very empowering. But it can also prove very challenging. If you’re looking for a new home in the Rio Grande Valley, contact the staff at WestWind homes today. The staff at WestWind homes can make the home buying process easy, hassle-free, and ultimately put you in the home of your dreams.
