How to Save Money When Buying a House
As most people know, buying a home can be time-consuming, expensive and emotionally draining. Even so, it’s still very rewarding coming home to something that you can truly call home every day. Having the freedom to paint the walls, keep a pet and not have to worry about annoying the person you share a wall with is becoming the dreams of many first time home buyers. Unfortunately for many first time home buyers, they may be a little overwhelmed by the sticker shock they are feeling from house hunting. Below I have provided some simple tips to at least help with reducing the expensive part.
See Past the Ugly Color Scheme
Many times people will pass up a great deal just because they can’t get past minor updates such as paint, flooring or the way the owner their rooms laid out. Watch some design shows before viewing the house to awaken your inner interior designer. Be open to living a few blocks out from the “perfect” and more expensive neighbourhood.
Don’t keep up with the Jones, instead of focusing on wants to think about needs. Does each kid REALLY need their own room? Most people I know shared a room at some point in their life and turned out just fine.
Don’t Forget About Open Land
Sometimes building on an inexpensive plot of land can be cheaper than buying a home. Just make to get quotes for electric, water/well and sewer/septic before taking the plunge and buying open land. Another way you might be able to reduce cost is looking into prefabricated homes. They can be customized and are normally more energy efficient than traditional homes.
No Matter Your Choice in Homes, Stay Awhile
Buying a home then moving in a few years pretty much waste all the energy you put into finding the home in the first place. You also end up wasting more money than you would of renting due to purchasing fees, mortgage, taxes and interest rates. Make sure you are planning to stay awhile so you can get the true benefits of owning a home. If you are unsure that you will stay in a home for longer than 5 years look for a rental home.
By following these simple tips and keeping an open mind about your future home you will be able to not only save money but create and design your true dream home.