4 Tips and Advice for First-Time Home Buyers You Must Read!

If you are looking into becoming a first time home buyer, then we have to talk. It’s exciting when you buy your first house!

According to the California Association of Realtors, the state’s median sale price for a home was an astounding $898,980 as of May 2022.

Yes, the market is daunting, but slow down. The perfect house will find its way to you, when it works with your financial situation. You may be wondering, how to get started with the process. Well, we got you covered!

Homebuying Tips:

  • Get your finances ready for homeownership: Your emergency fund should include a buffer for housing costs. According to experts, you should set aside 1% of your home’s value each year to pay for unforeseen repairs and routine maintenance. You won’t have to use credit cards to pay for any repairs or necessities.
  • Don’t forget about moving expenses: You will need money for moving costs unless you know someone who is offering to assist you. A truck, boxes, packing materials, and even movers to arrange your furniture in your new house will all be expenses. According to the American Moving and Storage Association, a local relocation costs $2,300, and a long distance transfer costs $4,300.

House Hunting Tips:

  • Be flexible in your home search: Have an open mind, when searching. Oftentimes, first-time homeowners put themselves in a difficult situation by becoming fixated on their ideal house. It’s unlikely that most first-time home buyers will receive their first choice. Your chances of succeeding are higher the more adaptable you are. Before you begin your search, it could be useful to list the qualities that are most important to you; this will enable you to better evaluate your selections once you start seeing potential homes.
  • Research Where You Want to Live: When looking for a home, take into account the following neighborhood aspects:
    • Schools: The affordability of homes is frequently influenced by high-quality schools.
    • Walkability: Having access to amenities like playgrounds, grocery stores, and public transportation that you can reach on foot can help you avoid public transit.
    • Parking: If you’re thinking about purchasing a building without parking, examine the availability of street parking, particularly at night and on weekends when more inhabitants may be parking. You might also look at parking choices for rent.
    • Property taxes: They might vary significantly between neighborhoods. This crucial information will be available to your real estate professional.
  • Get Familiar with First-Time Home Buyer Programs: CHER can help you the simple and affordable way, here’s how we can help you:
    • Sign up at CHER to see how much you can qualify for by getting pre-qualified in less than 5 minutes!
    • Browse our thousands of homes curated for you at cherahome.com

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Mila-Joselyn A.
Author: Mila-Joselyn A.