Purchasing a new house is an exciting experience that marks a major accomplishment a for first time home buyer in VA. This excitement can easily lead an inexperienced buyer into a home that seems great but, in reality, is far from the right choice. Buying a home is a long-term investment and to preserve that investment, one must find a balance between wants and logical, realistic needs. By going over several key factors that are easily overlooked, first time home buyers in VA stand to make a decision on a home that will be the right one for them.
Location
Location is by far the most important factor that should be considered by a first time home buyer in VA. As the most valuable asset in a home purchase, the location of the home is one that the buyer does not have as much control over improvement as they would with the actual home. When looking for a beneficial location, evaluate the local schools, the neighborhood, and any taxes, dues, and fees associated with the location of the home. If these categories check out then it is a solid indicator that the land value will not decrease.
Size & Space to Expand
When considering a home’s size for long-term residence, try to imagine any expansions you might want down the line. For these expansions, you are going to need to have the space for them. This can be space for furniture such as dining tables or beds or a garage for storage. If you have other people living with you or if are expecting to have more in your home, you are going to want to make sure that the available space is appropriate for the number of residents. In short, make sure all of your things fit and if you plan on making future expansions, make sure you have the space to expand.
Renovations
If you are planning on purchasing a home, it is very important to consider the renovations that will be required to bring the home up to your preferred standard. Try to imagine yourself living in the home and take notice of anything that would bother you or that you would like to be updated. It is crucial to be able to know what renovations you will be able to do yourself and which renovations you would have to hire a professional contractor for. Also, be sure to have realistic expectations for the true potential of the home, and don’t let your imagination consume this reality. Renovations can raise a home’s value and make the resident happier with the home but, if the resources and money required to make these necessary renovations outweigh the worth it adds, it might be best to look at other options.
Luxuries to Consider
Luxuries are things that come with a home that is not necessary for occupation and instead add a level of convenience or comfort to a residence. For some, certain luxuries might be a necessity. Being able to determine if a home feature is a luxury or a necessity will assist you in deciding if that home is right for you. For example, some first time home buyers in VA must have adequate parking while some view it as an unnecessary luxury that just boosts the sales price of a home. When deciding if a residence will be able to make a good home for you, be sure to contemplate if the luxuries that come with the home are important to you.
Purchase Your First Home With Federal Hill Mortgage
First time home buyers in VA have a lot to consider when deciding on their first home. Finding the right balance between a solid investment and a home that you are comfortable in is key in choosing your first home. With it being your first experience in purchasing a home, having a team of mortgage professionals guiding you through the process serves as an invaluable asset. If you are a first time home buyer in VA, contact the team at Federal Hill Mortgage to get expert real estate guidance and the professional assistance you need to get an advantageous deal on your new home. Want to learn more? Check out our reviews.
