A good first home is on the mind of many of the country's Millennials who are looking to step foot into the real estate world and stake claim on a foundation that will last for decades to come. If the time is finally right and you're looking for a home as a first-time buyer, here are some things to go over before signing.
Location is Almost Everything
While most homes can always have any projects or issues worked on from within, at your sole discretion as a homeowner, there's really nothing that can be done about the area in which you live. Once you've settled on a neighborhood, what happens beyond your own property is out of your control. That's why it is important that you do some research on the area, find out what kind of neighbors you have living nearby and decide whether or not the feeling of the area fits within your own preferences.
If you are planning on going in on a mortgage lasting upwards of 20 years or more, if you aren't happy with the area, there's little that can be done once you've signed the dotted line and settled in. With that same idea in mind, try to find an area, or work with an agency like Re/Max Posh Properties near you to help you find an area, that is close to where you work and shop.
Maintenance
A fixer-upper might be more in the price zone of many first time buyers but it's highly suggested that you don't jump on the first project you come across because you see some sort of potential in it. Those who have had some experience under their belt in reworking a home back to its full shape will know what to look for here. It's suggested that if you don't know what to look for right off the bat that you seek the expert guidance of a real estate agent who can help you find what you're looking for. If it can be helped, try to avoid a home that has anything that needs to be worked on. Especially if the maintenance hasn't been kept up with on the home as long as it's been owned by the previous owner.
Recent Upgrades
There's a reason why homeowners put upgrades into their home. What it does is bring up the value and overall cost since it's introducing something new and useful to the home that was not there before. Look for homes that have the important kinds of upgrades, including fresh roofing, tiling, a new water heater, upgraded wiring in the walls, and so on. While it's nice to have fancy new kitchen cabinets, this is the kind of stuff that will really last.
These are only a few things to look for when looking for a starter home. Quality is often in the eye of the beholder, so your situation may step along a different line than what is outlined here.
