Five expert tips for buying a home

By Michael Madsen

Owning your own home is a powerful confidence-building step in your life, but buying one can be a busy and time-consuming process, especially if it’s your first home — there are many more decisions to make than just touring places and choosing the one you like best. When you’re ready to make the big move, these tips can make the process smoother:

#1 Before you look at homes, settle on a budget and secure a loan. Unless you’re planning on plunking down cash, you’re going to need a loan, and the sooner you secure financing the sooner you can begin looking for the perfect place to call home. One caveat: don’t spend what you’re qualified for, spend what you’re comfortable borrowing. You’ll likely qualify for more than you expect, so setting your own budget
is crucial!

#2 Hire a realtor. Many home buyers think they are savvy enough to take the task on themselves, but I assure you that there is just enough information out there to make the average layperson dangerous to her or himself. You hired a personal trainer at the gym, so follow suit with the largest purchase you’ll ever make and use the help
of professionals.

#3 List what you want in a home, but be open to alternatives. Go into the process with a list of wants and needs, and understand that both lists may have to compromise — keep an open mind. Something might come along that fits the bill in a way you never thought about.

#4 Tune out excessive advice. Many Doctors will tell you to stay off Web MD, and for good reason! Buying a home is an exciting endeavor, and everyone will have their opinion, but the only one that matters is yours — you’re the one who has to live there. No matter how well-intended, too much advice can lead you astray. Listen to your heart and try to focus on the big picture, and remember, have fun!

#5 Location. Location. Location. It might sound trite, but you need a home that’s perfect for your lifestyle. Keep that in mind when looking for places that are in proximity to where you work and where you play. You can’t take an Uber cab all the time now that you’ve got a mortgage!

Michael Masden is a senior broker associate at Nostalgic Homes and leader of it’s specialized Urban Legendary team. Contact him or find more about Urban Legendary online at urbanlegendary.com