Thursday, March 26, 2009

Buying Your First Home

Posted By: Madeleine Brooks

Say you just got married and you want to raise a family but you're living in a one bedroom apartment in a major city. Maybe it is time to consider buying your first home. Buying a home isn't like buying a pair of shoes or an article of clothing. There are many decisions one must make to decide whether or not a home is the best decision for your financial situation. Buying a home is an investment that will be fifteen to thirty years down the road an investment that can be converted into cash to pay off debt, pay for your childrens' college education and even pay for your retirement.

So what do you, as a home buyer need to keep in mind? You always hear the phrase "location, location, location". Location is an important factor in purchasing your home. Would you like your home to be behind a railroad track where you hear trains passing through every hour on the hour? Or would you like your home to be in a residential area that is quiet and secluded? Do you as a home owner want to be relatively close to a major city or out in the country? Would you also like your home on a heavily traveled street or far into your neighborhood? Every location decision has a positive attribute and a negative consequence.

Another question as a home buyer is what type of home would you like to have? A one story home known as a ranch, a two or more story home, a split level? Also many people have a specific requests for the interior of the home. How many bedrooms? Bathrooms? A large kitchen? A spacious living room? Then external factors play a role as well. Whether or not you would like a pool (in the ground vs. above ground), have a swing set, building a fence around your property.

Besides the physical home itself, people will also take into consideration school districts for their children, the community around your home, the neighborhood you are living in, and possibly the distance from your home to your workplace. It is highly recommended to have a real estate broker to help you with your home purchase. Because you are buying your first home, having a broker will assist you in knowing the value of homes, good locations, and to help you with your needs and wants in your ideal first home.

It is a new and exciting process in your life. Take these questions into consideration and hopefully your first home buyers experience will be one that is worthwhile and easy!


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