It’s May 2024, and we are just entering the prime home-buying season in the Treasure Valley. The cold, dark days of winter are behind us and warm, long summer days are ahead; many people are starting to prep their homes for selling. For the new home buyers out there, we have some advice as you plan to look for and purchase your first home this year. There are great opportunities out there we don’t want you to miss out on!
While you’re starting to look for your first home, don’t let emotions rule your decision. There won’t always be the perfect house or the perfect buying situation, but there are plenty of good houses out there, and always the option to sell again in the future. Take into account the neighborhood, the size of the house you need, and your credit score before making a decision. Getting advice from multiple lenders and a real estate agent will also help as they know the market and state of the economy better than most.
Another piece of advice for first-time home buyers is don’t drain your savings! Pay attention to hidden home-owning costs, the percentage of a down payment (which can vary from house to house), and the cost of moving itself. Keep well within your budget, but don’t wait around for the unicorn home, be reasonable and flexible.
Don’t be afraid of fixer-uppers, older homes in need of a few renovations or yard clean-ups. Those kinds of houses are great for first-time homeowners, you get to build equity through renovations over time and can eventually sell for more than you bought it for. The prices for older homes tend to be less than those of newer homes as well, so they can fit better in your budget.
There’s a lot to keep in mind as a first-time home buyer, but don’t let the stress take over your life! Getting a good team of people to help you with advice and knowledge makes a big difference in the ease of the experience. We at TV Idaho RE and PM are happy to help you find the home of your dreams, contact us to see how we can help you!