Tips For Buying Your First Home: What You Need to Know
If you’re thinking of buying or are about to start the process, you’ve probably read up on mortgages, new vs. used, etc. But do you know what to bring to home builder meetings? How about negotiating your home’s features? Some things get overshadowed by the “big points” you may have seen in other blogs, but at Stone Martin Builders, we believe the little details matter…
So we put together the questions you really want to ask, and the answers you won’t find in a simple internet search:
1. Will I be completely overwhelmed throughout the homebuying process?
We’re not saying that buying a home isn’t stressful, but choosing to build your home with Stone Martin Builders will assure that you have a fun time building your happy place! We have streamlined our process in order to make it the most efficient and easiest homebuilding process in our region! Not to mention, even after you’ve purchased your home, we’re with you every step of the way with our new homeowner portal on our tablets!
Pro top: enjoy every minute of the ride, even the stressful parts, because it’s all worth it in the end.
2. Can I afford to buy a home?
If you’re worried about whether or not you can pay for a home you love, don’t worry, you’re not alone. But that’s why we’re here to tell you that you might be able to afford so much more than you think. In fact, you might even up paying less for your mortgage than for your current rent… in a much better space that you own.
Pro tip: you can get a preapproval even while you’re still renting! Go check out where you stand (you might be amazed).
3. Should I continue to rent for just one more year?
When it comes to home ownership, there’s no better time than right now. (Guess all of those “seize the moment” quotes were right…) Of course, with interest rates at a current low point, buying your first home sooner rather than later means you can stop throwing money away (and by that, we mean renting), and start owning something that gives you so much back in return. Pro tip: just take the leap! You’ll be glad you did.
4. Will I have a completely different lifestyle? What’s going to stay the same?
Of course, it’s what’s on the inside that counts, but when it comes to your first home, what’s on the outside matters a whole lot too. Your first home’s location is going to make a difference when it comes to your job and your social life, so make sure to consider convenience — how close are you to stores, restaurants, and bars? How long will it take you to get to work?
Pro tip: it’s okay to experience lifestyle changes (i.e. driving to work for the first time instead of walking), but don’t overlook the certain things you love the most.
5. Will I get taken advantage of?
First order of business: listen to your parents. Yes, we’re giving you childhood advice in a blog about owning a home, but hear us out. Bringing someone who knows and loves you (and who you trust) to your builder meetings will help you see things clearly, as well ensure you don’t get taken advantage of. Whether a parent, a sibling, or another important figure in your life, having someone else’s opinion that you value can make a world of difference.
Pro tip: it’s always okay to sit back, take a deep breath, and consider a new perspective.
6. Can I negotiate certain aspects of my home?
You might not get absolutely everything you want… but you can get more than you think. If you’re not happy about something, negotiate! For example, your home might come with a stove and dishwasher, but not a refrigerator and washer/dryer. If you want to save money (and time!), talk to your builder about having these features included.
Pro tip: you’re the buyer — and you have power. Don’t be afraid to ask for more.
Last but not least, we want you to know that this whole thing is going to be emotional. Just like any “first” in your life, your home is a big deal (the biggest deal, actually), so you’re going to feel a lot of different emotions.
But even when you’re doubting everything you’re going through, remember that owning your first home is a feat that should make you more proud that almost anything else. Building your vision from the ground up is so much more than just a process. It’s one of the most special things you can do. Looking to build your new home in Alabama or Georgia? Contact Stone Martin for an easy, home buying experience.