Buying a house is a big deal, especially if it’s your first time to do so. There are many things you need to remember to do to make sure you are ready to take on this new responsibility. Here is a checklist of things you don’t want to forget before you close on your new home.
Take a Home Buyer Class
Few people know how to buy a house when they start out. It’s normal to have a lot of questions. A first-time home buyer course can answer a lot of those questions and set your mind at ease. It can help you make a lot of decisions, ranging from choosing the right neighborhood to getting your finances ready. You can take a course online, but if you want one that is well-suited to your area, it may make more sense to search for reputable classes you can attend in person.
Make a List of Projected Expenses
The mortgage payment is only one of the expenses you will have as a homeowner. In addition to the payment on the house itself, your mortgage likely includes homeowners insurance premiums and property taxes. You are responsible for all the utilities, and there are probably activation fees for each of them. You are also responsible for all repairs to your home when you own it, so it’s important to have a cushion in savings set aside for just that purpose. You may also find several things you want to change or fix when you move in, and you will need money to do that. Having a clear idea of your budget can keep you out of financial trouble once you’ve signed on the dotted line.
Get a Home Inspection
One of the most important things you need to do before you commit to such a huge purchase is a home inspection. The owner may have paperwork that reveals issues with the house, but it helps to get an outside opinion. Make sure to hire someone who has a home inspection license to look the house over before you buy it. If the foundation or HVAC system needs serious repair, you may consider asking the seller to pay the costs or use the information to renegotiate your price.
Buying a house is not a decision to take lightly. Knowing the steps you need to take to get the best deal or budget responsibly can help the process go more smoothly.