Couples who have just tied the knot would want to move to a new house they can call their own. It is the time when they either move out of their parent’s house or their private apartment and think about starting their own family. Everyone wants a sweet beginning. Buying a house is a big expense that you really need time to think about. Seeking professional advice is still important and one of them is talking to a company that offers Heather Foote-Jasso home loans. Even with such help, you would still wonder what are the things you need to consider in buying a new home.
Size of Your Future Family
Ample space is needed so that you would not get too crowded inside your home. Personal space is still important. Consider your future kids or pets because they need a place where they can play and you do not want to see a tiny space that’s too messy. If having children is not yet in your plans, then a small house won’t hurt. You may just sell the house once you feel it is the right time to move to a bigger one.
Budget
When it comes to the budget, newlyweds would often look for financing options. You also need to be as realistic as possible when it comes to how you can repay such a loan by analyzing your sources of funds. Ask yourself how much money you have saved for the down payment and how long you should pay the loan.
Credit Status
Before they provide you with financing options for your house purchase, lenders would need to run a credit check. If you haven’t built your credit score much, then there are other options you can consider, such as an FHA loan (Federal Housing Administration loan) which will also give you a lower down payment.
Available Options
Do not rush into making decisions. Weigh what you want from what you need so that you can find the features and amenities you are looking for in a house. Try looking around your desired location and see if there is a house that will fit your needs. You can check the neighborhood, climate, employment options, schools, and other factors that you feel are important. It is also now easier to check online to see if there are listings available that you can share with your preferred realtor.
A Bargain Price
Nothing is wrong with asking for a lower price than the amount they have stated. You might be surprised that they can offer it to you at a lower rate than what you asked, especially during off-seasons when they just need to close that deal.
Ocular Inspection
It is necessary to take a good look at the house you’re planning to buy, so you can tell them if there are things you were not informed or if there are any home improvements needed. You can ask them to reduce the list price of your house because of the costs associated with repairs.
Ask for an Appraisal
The mortgage company normally performs this, but just in case they don’t, you may request them to do it before you sign the deal. This will allow you to compare the current value of the house versus the loan amount. You have to make sure you are getting the best out of your money or loan.
Once everything is good, you can now close the deal. It is time to move into that dream house for your new family.
