What You Need to Know About Buying a House

For the vast majority of Americans, buying a home is the most important purchase they will ever make. Aside from the monetary investment, a person's home is central to their life and wellbeing in a way that no other purchase can match. For that reason, it is essential for anyone looking to become a homeowner to fully educate themselves about the home-buying process. Here are a few things every future homeowner should keep in mind.

Plan Ahead

It bears repeating that buying a house is a major commitment. Unless you plan on flipping the home quickly, you will likely be living in the home for years, even decades. That's why it's important to buy a home that meets your needs, not just for today, but for the future. Do you plan on having kids? How likely is it you'll still have the same job in five to ten years? You need to consider these things and look for a house that fits with where you see yourself down the road.

Get Informed on Big Picture Costs

A lot of people who aren't familiar with the home-buying process tend to fixate on the purchase price. While that, of course, will be the largest portion of the costs, it's by no means the end of the expenses. There will be a loan origination fee associated with getting the mortgage, usually between 0.5 percent and 1 percent of the purchase price. There's also the cost of the housing inspection and closing costs (including attorney's fees). Plus, if you're working with a realtor, their commission will be absorbed into the cost of the home. All of these extra costs can add up, so be sure to calculate them into your overall budget.

Don't Be Afraid to Ask Questions

If you don't know something, never be afraid to ask. There are plenty of things to consider when buying a home, and you're not expected to be an expert on all of them. Questions you might ask the seller include whether there are any ongoing maintenance issues, what the cost of utilities is, how old the roof is (and when it might need replacing), and what to expect from the neighborhood. If building a new home is a dream that you are looking to turn into a reality, align yourself with a reputable building company who has a strong focus on setting clear expectations and communications so you feel comfortable and in the know.

Enjoy the Perks of Homeownership

Once you've made the commitment to purchase a home, you will enjoy many benefits as a property owner. You will start building wealth and equity from day one of homeownership, in addition to enjoying tax deductions for your mortgage, property tax, and some closing costs. As a homeowner, you are making a long-term investment in your financial security and future while creating a space that you can call your own.

At Robertson Homes, we are committed to helping our customers realize their dreams of homeownership. We've been building new homes tailored to our clients' needs for over 70 years. Whether you're searching for a single-family home or a condo in one of our communities, we can help you with every step of the process, from designing the perfect home to finding a reputable mortgage lender. Call us today at (248) 657-4968 to speak with one of our experts.