Many homebuyers opt to move out of an apartment to venture onto a property they can actually own. Taking this leap is often hard as a first-time buyer. However, you can have some peace knowing you are in good company. Back in 2010, 50 percent of the market was first time buyers. Most believe it is a beneficial financial decision, which it certainly can be. However, there are some things you can do to prepare for your starter home.
Plan for More Than Just a Down-Payment
A lot of young couples save vigorously to have 10 percent of their future starter home cost as a down-payment. But the mistake is thinking that a down-payment is the only cost you will have. First-time homebuyers don’t realize that there are actually a lot more up-front costs than that. Closing costs, a home inspection, and an appraisal fee are just a few of the costs that come with buying a home. You also have to stop and think about what kind of appliances and furniture you will need.
Know What You Want in Starter Homes
Oftentimes, buying a starter home means comprising. You probably won’t get everything you want for the price tag you are looking for, but it is still good to know what you want and need in a new home. You will more than likely spend five to ten years in this home so you have to look at the future as well. Will the location still be best? Will you have additions to your family in that time period? A number of bedrooms, size of the yard, location, nearby schools all make the difference for each home you like it. It will be important to decide which features you need and which are less of a priority for the price tag that you can afford.
Location is Everything
When you are looking at starter homes location can make a huge difference. If you have children, schools will make a difference. Not only that, the same home can have two different price tags in different locations. If you are willing to compromise on location, it can save you money in the long run.
Accent Homes Has Great Options
Because of our responsible building methods, we are able to offer affordable homes with great floor plans and square footage.We have several homes to choose from in different areas of El Paso. Contact us today to find out more.