Buying a home for the first time is an exciting accomplishment, but it's a process that often comes with pre-purchase jitters. For a first-time home buyer, these fears are expected, but they can easily be put to rest. Here are a few common first-time home buying fears and the best way you can overcome them.
Fear: How can I take care of a home? I've always lived in an apartment and I know very little about home maintenance and repair.
Reality: Fixing little things around the house can be empowering, such as installing a new light switch or solving the issue behind a kitchen leak. If a task becomes too daunting, there are always professionals to assist you. Do some research and find a good handyman in your neighborhood without having to break the bank. Keep in mind, there are general timelines when considering the larger home improvement jobs, including roofs, windows and gutters.
Fear: What if I end up buying a house and not liking it?
Reality: The average American moves every five years, so it's normal to buy a home and turn it around if it's not the right fit after the first year or two. However, buyer's remorse is a common feeling among first-time home buyers and is often fleeting. Ultimately, understand the first home you purchase will more than likely not be your last.
Fear: What if my family outgrows our home?
Reality: Starting or expanding a family is often the reason most people move. 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 means more maintenance and financial responsibility. Remember, when you feel you've outgrown you home, you can invest in an addition or look to sell.
Don't let your fear of purchasing a home discourage you. Buying a house is an exciting time and something that should be carefully researched and celebrated. By conquering these fears or any other you may have, you'll be able to enjoy this accomplishment for many years to come.
A ditech Home Loan Specialist can answer your questions and help you determine the right mortgage to put you on the path to homeownership.