Buying a home for the first time can be an exciting time, but it’s definitely easy to get overwhelmed. The real estate market is full of people looking to buy a home for the first time; almost a third of people looking to buy new homes are first-time home buyers. If you’re finding yourself overwhelmed while you’re looking for your first home, here are a few pieces of advice you should keep in mind.
- Do your research: In today’s real estate market, you’ll need to do some initial searching online for information. 44% of home buyers today look online for properties, and it’s not hard to see why; more information is available online today than ever before. Looking online initially can help you have basic information on your favorite homes before you ever see them in person.
- Hire a realtor: Hiring a realtor or real estate agent might seem unnecessary if you can get tons of information online, but this is an important step in buying your first home. A realtor can provide you with additional information on homes and the real estate market that might not be available to the general public. Top realtors can give you advice that you might otherwise miss out on, as well as helping with the actual process of buying your chosen home.
- Visit multiple homes: Make sure you’re actually going to visit houses in person, rather than just going with photos you’ve found online. Try to schedule your open houses so that you can see multiple houses on the same day. That way, the previous homes will be fresh in your mind when viewing other options.
- Give yourself time: It’s easy to get carried away with the excitement of home buying, but do your best to not get caught up in the excitement. Give yourself time to consider if you really want to make an offer on a home, and if the home you had picked has already been bought by someone else, remember that there are always others available.
If you’re looking to buy a home for the first time, use these four tips, along with any advice you get from your local real estate agents, to help you make the best choices for your home purchase.
It’s no secret that different generations have different behavioral patterns, and that shows just as much in buying a home as it does anywhere else. The real estate market can be incredibly different for different generations. When looking at a home for sale, different ages will look for different factors that could influence their decision to buy. Here’s a bit more information on what different generations look for, so you can work with your real estate agents to develop a plan on what factors to highlight when selling your house to different generations.
The G.I. Generation, Silent Generation, and Baby Boomers
Older generations interact with the real estate market in a far different manner than younger generations. They are less likely to look online for homes, despite the ongoing shift towards digitizing the real estate experience. Additionally, they’re more likely to rely on a real estate agent’s opinion when looking for homes, as it’s less likely they’ve researched online.
Older generations are more likely to value accessibility, as mobility will become more challenging as they age. In order to appeal to this generation, make sure your home is easily accessible, even by those who struggle with mobility. Additionally, be sure to emphasize nearby amenities; having all your needs close by is important when mobility is a factor.
Gen X, Millenials, and Gen Z
These younger generations aren’t always quite as young as people think; the oldest Millenials are currently in their thirties. Despite these generations being at the age where they’re more likely to be part of a growing family, these generations are looking at smaller homes; at 23%, millennials are the most likely to look at townhouses.
Additionally, these generations are far more likely to search for homes online before consulting real estate agents. Because they’re more familiar with technology and are better able to use it for research, they typically will show up to open houses and showings with a better idea in mind already of what the home will look like.
Looking for help with selling your house, or looking to buy a home of your own? Contact Faye Emerson Real Estate for some of the top Magic Valley real estate agents.
Finding the apartment of your dreams is an exciting new chapter in your life, no matter what your age. Around 25% of rental residents in a survey were renters by choice, meaning they simply prefer to live in an apartment rather than a house. Renting is a popular option for many to help with maintenance work and costs, to take advantage of fantastic amenities like a clubhouse or pool, or just because they are just not ready to buy a house quite yet. However, an apartment lease is a legally binding contract, and many rush into signing pre-leasing or leasing options without knowing all the facts. You may have thought you found the perfect property and location, but there are a few other things to consider before signing on the dotted line.
- Visit the Property
If pre-leasing or signing a lease is on the table, make sure your new apartment meets all of your criteria for function, safety, and comfort. A visit to the actual property, show room, or a similar apartment will allow you to see the space, amenities, and surrounding area. This is a good time to begin establishing a relationship with the landlord or rental property employee. Come prepared with all the questions you may have. If you see something that concerns you, make sure that these concerns can be addressed.
- Know What’s Included
There are some fabulous rental properties out there with all the rental amenities and extras one could need. Don’t get stuck with an apartment complex that doesn’t fulfill your specific wants. If you are looking to live the country club lifestyle, you may want to find out if your apartment includes use of a clubhouse, tennis court, a pool, exercise equipment, or a basketball court. Are you looking for furnished apartments? A property that allows pets? Are you looking to possibly lease with an option to buy? Make sure you are 100% clear on what else is included so you know how this new apartment will fit in with your monthly budget and lifestyle.
- Read Over the Lease Carefully
Whether you’re pre-leasing or signing a standard lease read it over carefully. It may seem like obvious advice, but don’t skip over the small print just because you’re in a rush. Some important factors that should be addressed in the lease include the guest policy, how long the lease term is, whether 24/7 maintenance is available in emergency situations, how much the deposit is and and whether it’s non-refundable, and whether personalization and customization is allowed. Once you know everything there is to expect in your new space you can feel confident signing the lease! There will be no unexpected surprises or problems awaiting you!
As a renter, don’t be blinded by the superficial when looking for apartments to rent. Use this checklist or create your own before pre-leasing or signing a lease! In order to ensure your time renting is as pleasant as possible from start to finish, do your research, know what your signing, and make sure your new space is exactly what you are looking for, without sacrificing any major wants or needs.