Owning a home is one of the top priorities in people’s lives, and one of the most self-satisfying accomplishments. These days, your chances of actually becoming a homeowner are actually quite good, but that doesn’t make the home buying process any easier.
Realizing that you can actually afford to establish homeownership is a tremendous feeling, which is then followed by feelings of stress, confusion, and anxiety. Once you’ve determined that becoming a homeowner is a viable option, then you must conquer a number of other serious questions:
- Do we want a single-family home or a townhome?
- Should we purchase a previously owned home or build from the ground up?
- What should our budget be?
- What home features are the most important to us?
No real estate expert or title company representative can answer those questions for you because they are all based on personal preference, and require serious consideration.
In recent years, a number of homes have become available to buyers via foreclosure or short sale. This provides a tremendous financial opportunity to potential buyers up front, but can also require a significant amount of funds down the road. Even if you browse homes on the market that are not foreclosures or short sales, you still run the risk of having to deal with numerous homeowner headaches once you move in.
Not all previously owned homes will drain your wallet and your mental sanity, but that is why it is imperative that you get a thorough quality inspection prior to closing on an older home. Even if you choose to hire a custom home builder, inspections are critical. The key thing to your homeowner success is to consider all the factors that could potentially cause you problems, and identify a way to overcome those obstacles.
Home Buyer Headache Triggers and Remedies
- Technical Terms – Mortgage and real estate jargon can get confusing and overwhelming. Additionally, the amount of paperwork involved in the purchase of a home is considerable. If you are not careful, you may find yourself grappling with hidden costs or even choosing the wrong mortgage plan. Make sure you work with a real estate agent and title company that you feel comfortable talking openly with so that all your questions and concerns are addressed clearly.
- Limited Options – Depending on where you live, there may not be a whole lot of homes on the market, or at least ones that fit your criteria. However, you may not want to sit back and wait for the perfect house to be put up for sale. A logical solution to this would be to buy a piece of land and hire a custom home builder to construct your dream home.
- Internal Improvements – If you do happen to find a previously owned house that fits your budget is has all of the traits you desire in a home, then you must accept the fact that older homes are more likely to require improvements and repairs, whether they be functional or cosmetic. You can never truly know exactly what might happen down the road, which is another reason why it is a good idea to build from scratch. A custom home builder does not have to break the bank, but can provide you with a safe and reliable home that pleases everyone in your family.