5 Things Every First-Time Home Buyer Should Know

5 Things Every First-Time Home Buyer Should Know

Important information to consider before you buy your first house.

On the market for your first home in the Madison area? Here are 5 essential things every first-time home buyer should know before shopping around or making a purchase:

1| Location means more than space
Once you’ve purchased your new home, it’s possible to add on an extra bedroom or bathroom—it isn’t possible to move to a less noisy lot.

2| It’s best to spend less than you qualify for
If you spend a little less than you are qualified for, you have more wiggle room for renovations as your home ages. You’ll also enjoy a smaller mortgage payment.

3| Just because remodeling looks professionally done, doesn’t mean it was
Don’t judge a book by its cover. Even if a newly remodeled kitchen looks perfect on the surface, it could have been worked on by a novice using substandard materials. Make sure to take a closer look or even ask the seller for information on who did the work.

4| Home inspections are essential and should be done by a professional
HGTV tells a story of a homeowner who thought they bought a home with a new roof, only to learn that it needed to be replaced. Hire a professional to track down costly problems before you buy.

5| Property taxes can make a big difference to your budget
When you’re considering adding a brand new mortgage payment to your expenses, it’s easy to forget about property taxes. Find out if they’re part of your mortgage or paid yearly, and factor that into your budget.

Searching for your perfect first home? For more essential information for first-time home buyers, as well as custom advice from Madison’s most experienced real estate team, give the Cheng Real Estate Group a call today at (608) 957-2683.