Home For Her

Real Estate and Renovation advice for women

Home Buying Tips: Four Things You Might Not Think About

how to buy a house Buying a home can be a stressful experience that often becomes unknowingly more stressful after you buy it.  While some people often point out the major aspects of buying a home, such as location, budget, school districts and large scale repairs other aspects might be overlooked in the buying process and lead to some major frustration after buying.  Here are four home buying tips you might not know about when you’re buying a home and why they’re important to consider.

Home Buying Tips

Consumption Demands

Often home buyers don’t consider this aspect of a home until it’s too late.  That charming two bedroom ranch that you’d had your eye on and managed to close on could be a complete terror on your bank account as your utility bills roll in.  There are a variety of ways these billing records can be recovered (either from previous owners or the selling agent).  If it’s a new home it’s definitely worth considering products such as windows, doors, and the weather stripping being installed.  These areas can be one of the most expensive aspects of a home if overlooked, and they aren’t cheap to repair once you’ve realized the problem.  There are also ways to better insulate water piping and water heaters to reduce consumption costs.

Expenses Fees and Dues

For many home owners another surprising aspect of buying a home is the related fees and possible dues that will come along with the home.  If you’re considering buying a home in a subdivision, community or private area it’s highly possible there are community fees, home owners association costs and even local taxes.   To further complicate this issue it’s often a surprise to first time home buyers the number of inspections required before you’re able to close on your home.

Repairs and Maintenance

One of the most common areas of home ownership that might go overlooked is the cost of repairs and ongoing maintenance.  That quaint ranch with the picket fence and metal roofing will eventually cost money.  While homeowners insurance will cover damages to your home and property, this insurance won’t cover the replacement of areas that experience normal wear and tear.  Consider the upkeep required to have a fenced in yard.  When it needs replaced it will require an investment of time and money to repair it.  The same can be said for other areas of your home including water piping, windows and shingles.  These areas of a home experience constant use and abuse and will eventually falter.  When they do it’s your obligation to take care of these to prevent further problems from manifesting.  Also, your yard and property is an area that requires more regular maintenance and requires necessary equipment to maintain them appropriately.  Just be aware that once you own the home, it’s yours to maintain and repair.

Various Mortgage Options

This aspect of purchasing a home could be one of the most beneficial to be aware of.  Far too often first time home buyers settle for a very limited financing option that isn’t ideal for their individual finances.  This is usually a fixed rate mortgage that may test their financial stability or lengthen the mortgage payments longer than necessary.  As the home owner you have the freedom to finance the home in a way that best suits you.  If you’re financially stable and can pay a house off sooner than 30 years, you can do so.  If a fixed rate mortgage isn’t ideal for you it’s also possible to utilize adjustable rate mortgages that change with their associated market rates.  There are also interest only mortgages, bimonthly mortgages and other variations of mortgage terms and conditions that can accommodate your individual needs.  Being aware of financing options could dramatically impact your purchasing process and financial impact for years to come.


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