What to know when Buying your First Home

Jan 12, 2018 by

What to know when Buying your First Home

There are few firsts in our lives quite as exciting or as intimidating as our first house. Not a rental apartment, but a true-blue house all your own. The glowing feeling of independence, the crushing weight of responsibility, it can be overwhelming. Which is why you should know some things going in, so you aren’t too overwhelmed. If you are seeking real estate for sale in San Francisco for the first time, here are some basic pointers to help you get started off right.

#1. Make sure you can afford it

Not just at first, but instead in the long term. Not only are there many upfront expenses, including installing heating, electricity, internet etc. but what if there’s a part of the house that needs fixing? Or what about bills? Before buying a house, you need to make sure that you not only have a good amount of money in pocket, but also have a stable income coming in on a regular basis.

#2. How long do you plan on living here?

If you just plan on living in a city long enough for, say, a 3-year college program, then an apartment on campus will do you much more financial and social good. When you buy a house, you are making an investment in that house. Moreover, if you don’t live in a house for at least five years, you’re unlikely to recoup any of the expenses from buying and selling the house. If you expect to be moving in the next few years, and prefer living on your own, you’d be better off just renting a house. Avoids the mortgage issues and all the expenses that go into buying a house.

#3. Is it worth the money?

Do you see yourself raising a family in this house? Is that what you even want out of a house? Do you see yourself growing out of it in 3 years or so? All of these questions and many more should play into whether you consider this investment worth it or not. When you buy a house, it isn’t the same as renting out an apartment or even buying a condo. It’s an investment for life, for a lot of people. If you are one of those people, you should very carefully consider whether you need or even want this. Because in most cases, with insurance and leases, you won’t get the chance to back out afterwards. For more information visit Theaustinsf.com

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