Buying a home for the first time is just as exciting as it is scary. For most first-time homebuyers, there are A LOT of questions and it’s easy to get really overwhelmed. So here are the top 4 concerns that I hear when a client first comes to me.
- I’m Going To Blow My Lifesavings On A Down Payment…
A lot of first-timers think they need to put down their whole life savings, and it’s just not the case. There are down payment assistance programs at your fingertips you probably didn’t even know about. AND, there are a lot of financing options that require way less than the traditional 20% down.
- What Happens If I End Up Buying A House And Not Liking It?
Buyer’s remorse can be a thing for first-time homebuyers, because the commitment is so significant. It can be hard to keep out the voice of fear and doubt. What if I don’t like living here? What if it never feels like home? What if my neighbors are creepy? The reality is, you adjust and settle in—just like you do with anything new. And sooner than you think, you’ll grow attached to your new home, especially once you start making memories! Honestly, you will know your home when you see it. By the time we finish with inspections and the process you’ll be so ready to move in, it’ll be hard to feel remorse.
- What If My Family Outgrows Our Home?
Starting or expanding a family is often the reason most people move, especially if you bought a starter home. When buying your first home, it may be wise to consider some growing room, but you don’t have to overdo it. Having more home generally means more maintenance and financial responsibility. If you feel you’ve outgrown your home, you can always consider an addition, or you can look at selling.
- Overall, the idea of homeownership is terrifying. Renting just seems easier.
When you pay rent, it disappears into someone else’s pocket. When you make a mortgage payment, you’re building equity and are one step closer to payoff. Consider all the times you wanted to make a change in your apartment, whether it was a paint job or a fixture, only to realize you are not “allowed” because the truth is; you’re simply borrowing that space from month to month until your lease runs out. So, You’re right. Renting just SEEMS easier, but in the end – it’s financially hurting you and helping your landlord.
You know what helps me overcome my fears? Talking about them! Sometimes the best thing to do is consult with someone who can see the bigger picture. I would LOVE to help you work through your concerns and address each one with information that’ll help you make the best decision for you and your family.
If you’d like to connect, comment below or reach out! You can shoot me a text at 601-606-3001.