Searching for a First Home
Besides being handed the keys, house-hunting for your 1st home is most exciting part! Sure, looking through homes on http://tidehomes.com or checking out the new listings Erin emails to you each day is an important part of shopping for a home. But, nothing beats the thrill of personally viewing homes! Each buyer or couple develop their own rating system; the homes that meet all their criteria will be placed in the top choice categories. However, many 1st time purchasers are met with some level of disappointment. It’s a common occurrence for expectations and a 1st time buyers’ budget not to match up. Remember, there is a reason for the term starter home.
Ultimately, Erin will continue to refer back to her notes from the buyer’s counseling session. She’ll encourage each buyer as they re-focus upon their real estate needs and priorities and less on their wants. Her market knowledge will be invaluable during these times; she’ll be able to take you to other areas or types of properties that may not have been considered or even know about. Or, this may help to re-evaluate previously dismissed properties. Maybe a little longer commute to work is worth getting a larger home. Perhaps getting a smaller starter home is ok as long as you can live in a certain neighborhood. Regardless, 1st time purchasers can feel confident that they have full knowledge of their options. Armed with this first-hand information, Erin and her clients can write an offer on their favorite home.
Even Erin had to compromise when it came to purchasing the Melton’s first home. Her husband and her decided to select a more affordable townhouse with fewer bedrooms that was located in a favorite neighborhood and zoned for a particular school. They painted, decorated & landscaped without having to ask permission. Better yet, they knew they had invested in their future and weren’t just paying someone else’s mortgage. They found the stability of a consistent, fixed rate mortgage rather than yearly rental rate increases or headaches of living in base housing comforting. Being able to deduct the mortgage interest at tax time was an added bonus!
Granted, the Melton’s townhouse was not their dream home. Your 1st property probably won’t be yours either. However, owning your very own 1st home is a proud and memorable milestone!