The guide to new home ownership

Introduction

It’s great to be a homeowner. You can change the locks on your door, put up shelves in the kitchen and paint the walls any colour you like! But there are other things that may not be so obvious when you’re buying your first home. And if you don’t take care of them, they could turn out to be very expensive mistakes.

Start with a budget.

The first step in the home buying process is to create a budget. A good rule of thumb is that you should set aside 1% of the purchase price of your home for closing costs, so if you’re planning on purchasing a house for $200,000, be sure to include $2,000 in your budget.

• Budget for repairs and renovations: If there are any major projects that need to be done before you move into your new place (think painting or fixing the roof), make sure these expenses are included in your budget.

• Budget for furniture and appliances: You might want to furnish your new space with brand-new bedding and appliances or simply use what comes with it; either way, know what expenses will come from this so you can plan accordingly.

• Budget for moving costs: This includes everything from hiring movers or renting trucks/trailers/storage units (depending on how much stuff you have) to paying fees associated with getting utilities connected once at your new house

Find an agent.

You could try to buy a home without an agent. It’s possible, but be prepared for a headache.

Real estate agents and real estate brokers are not the same thing. An agent works on commission and is paid by you, while a broker doesn’t work on commission and is paid by the buyer or seller of your home (or both). You can choose to work with either type of professional when buying a new house.

Get pre-approved for a mortgage loan.

Once you’ve picked out a house and got the ball rolling on a home-buying process, it’s time to think about getting approved for a mortgage. A mortgage loan is what allows you to buy a house with cash. It will generally cover 80% of the cost of your home, but there are many things that can affect how much money you’ll need in order to make an offer on one:

• How much do they want? If they’re asking $100k, it’s gonna cost more than if they’re asking 30k.

• What kind of property is it? Is it new construction or an old fixer-upper? The more expensive properties require larger loans and therefore have higher interest rates attached to them (more on this later).

• Are there any upgrades planned? If so, these upgrades might increase the value of your home by quite a bit—but don’t forget that they’ll also add onto your overall expenses once everything has been completed!

Make an offer.

The next step is to submit an offer. You’ll want to make your first offer very close to the asking price, or even slightly lower than it. The seller may ask for some concessions in order to approve your offer (for example, you might have to pay for repairs that were not disclosed), but unless they’re impossible requests, you should probably agree. If the seller isn’t budging and wants more money than you’re willing or able to pay, then move on; buying a house can be stressful enough without working with someone who doesn’t want you around after they’ve already accepted an offer.

If your first offer is accepted by the seller and everything appears in order during inspections, congratulations! You’re now ready for closing day…

Have home repairs done before moving in.

When you get a new house, there’s always going to be some work that needs doing. You don’t want to move into your home and then spend months fixing it up. It’s better to have the contractors in place before moving day so that everything can go smoothly and without any hitches.

Have your contractor give you estimates for all of the work they’ll do and make sure they’re competitive with other contractors you’ve talked to. If they’re not competitive, hire someone else! You don’t want them coming out of pocket for money that could be used on other things like food or entertainment while living in temporary housing while waiting on repairs until completion (more on this below).

Consider hiring movers.

You may think that hiring movers is unnecessary, but they can help make your move easier and less stressful. Before you decide whether or not to hire movers, however, there are some things you should know:

• What to look for in a moving company

Most moving companies have similar services and prices. But when it comes down to choosing one, there are certain things that will make all the difference in how smoothly your move goes. First of all, ask about their price range and if they offer any discounts or coupons; if you’re looking at several companies’ quotes side-by-side online (which we recommend), these details will be essential in helping you determine which company’s quote makes the most sense for your situation. You should also find out how long it takes them from start to finish—do they offer free estimates? Can they guarantee arrival dates? This can be especially important if time is limited since many people tend to wait until last minute before hiring movers due to budget constraints as well as other demands on their schedules (like work).

We also recommend checking reviews from previous customers before making a decision about which company best fits your needs—especially if this isn’t an area of expertise for yourself! Not only does reading reviews provide insight into what past customers thought about specific services provided by different companies; those same reviews might contain tips other potential clients learned during previous moves involving specific locations within town where particular businesses operate more efficiently than others due into traffic patterns around town during morning rush hour times versus evenings when everyone else gets off work later than normal workers who commute each day via carpooling options instead…

Change your address on official documents.

You can change your address on all of the following documents:

• Driver’s license

• Car registration

• Voter registration

• Passport

• Insurance policies (health, auto, home)

• Credit cards and bank accounts

Fix up the home with minor changes you can live with now, and major changes down the road.

If you’re looking to buy a home, there are a few things that you should take into consideration before you sign on the dotted line. If your budget is tight and your savings account is low, then it may seem like purchasing a home is out of reach. But it isn’t! There are many ways to finance the purchase of your first home—the most popular being owner financing or a mortgage loan.

Here are some other tips to keep in mind:

• Make sure that your income meets the minimum requirements for making payments on a mortgage loan before applying for one. Your lender will want proof of employment as well as proof that your monthly income is enough to cover all expenses (including taxes).

• Don’t fall victim to “house lust” – this happens when we see something we love so much that we feel compelled to buy it no matter what its price tag says about our financial situation (or lack thereof). Remember: You don’t have to settle just because someone offers something amazing at an incredible discount! If something doesn’t fit within your budget now, then don’t worry – wait until later when money might become available through investments or gifts from family members who think they’re helping by giving us large sums all at once instead of letting us build up slowly over time.”

You don’t have to sacrifice your dream home if it needs some work done

If you want to make improvements, it’s a good idea to start slowly and be realistic about what your budget will allow. You might not be able to do everything at once, so think of this as an ongoing project. It’s also important to understand that even if you have the money for renovations today, any improvements will have an impact on the value of your home when it comes time for resale. Your goal should be improving your home in ways that will increase its value over time—not just today.

If the cost of hiring a contractor is prohibitive, consider doing some of the work yourself instead! There are many resources available online that can help guide DIY projects like painting walls or installing light fixtures. If you’re worried about doing something incorrectly or hurting yourself with tools like saws or drills (or hammers), ask a friend who has experience with these sorts of things and get them on board!