5 Research Tips to Consider When Buying a Home

I get it. Home buying can be very stressful especially to first time home buyers. There are so many things to factor in that the process can seem very overwhelming. The good news is that it doesn't have to be. By doing the right research and using the right tools, you can find the perfect house that fits you and your family. In today's article, I am going to be breaking down five research tips when it comes to home buying.

1. Know exactly what you want

If you don't have a vision for the home you want, it's going to be hard to come to a decision when it comes to buying. Are you looking at homes for sale in Nashville TN area homes for sale in Austin, Texas? Do you have a stable job where you are currently located? Are you planning on starting a family in the future? How many bedrooms and bathrooms will the house need? These are all questions that must be answered. By having strict criteria when entering the buying market, it will make it easier to filter out houses that aren't suited for you and your family.

2. Research loans

Your house will most likely be the greatest asset you will ever own in your entire life. It will also be an asset that you will leverage the most debt on in your life. This is why it is extremely important to have and maintain a great credit score. Start researching loans at local banks and credit unions to find out which one suits you best. If you don't do this right, you will end up paying thousands if not tens of thousands of dollars more in interest for your home. Don't be that person. I'd recommend having a credit score in the 800s and taking out a 15 year fixed rate mortgage. This is going to be your best bet financially.

3. Figure out your finances

Let's face it. The last thing you want to be in this world is house poor. This happens to a lot of new home buyers who fail to do their due diligence when it comes to buying a home. You have got to remember to factor in repair costs, closing costs, etc. You have to find out if your income will allow you to comfortably buy a home. In the end, the financial part is a very big part of the home buying process and should not be taken lightly.

4. Research for home inspectors

A great home inspector will find things that you won't find at a normal open house. These things can be radon, mold, pests, etc. Make sure that you hire an inspector that you trust and have researched through and through. Make sure that you are there attending the inspection while it is being done so that you can get a feel of whether or not anything needs to be done to the house. In the end, this transparency will allow you to win with home buying.

5. Research for a great buying agent

This tip is pretty simple. Find a good buying agent that is going to have more knowledge than you in the real estate game. He is going to make sure you make the right decision both financially and for your family.