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February
10
10
What To Look For In A Starter Home
A starter home is your entry into homeownership. Often starter homes are pictured as smaller properties that are more manageable for a young family to own and maintain, and something, you'll eventually grow out of and sell. The truth is that a starter home is what you make it. The exact home is the one that suits you, but there are some tips to make first time ownership easier.
Our REALTORS® know first-time buyer concerns and have some tips to get you started.
- Estimate Maintenance Costs
One of the benefits of renting is that you have a maintenance person who fixes things when they break and a landlord who replaces appliances that don't work. When you own a home, that support comes at a cost. The cost is definitely worth it because you are investing in your own property and equity. When you're in charge, you can choose and customize as much as you like, including that smart refrigerator with built-in grocery inventory. But if you aren't super handy or on a limited budget, you may want to start with a smaller and more simple property to avoid larger maintenance concerns. The smaller size will help keep things manageable so you can focus on enjoying the home at your budget now. - Don't Skip Inspections
Always get a quality inspection even on new builds. Newer isn't always better, so make sure you are looking for quality construction and materials. Many older starter homes have enormous potential. It's important to identify potential problems and understand the needed repairs before getting started. - Know What You Can Afford
It's important to choose a starter home that you can afford. Ideally, you will want to purchase at a price that allows you to recoup costs if you stay for 5-7 years. You'll want to review home values for years in your area and prepare for some fluctuations in the market. When it comes to your mortgage, remember that this often includes property taxes and insurance in your monthly payments. Make sure you can afford to manage your monthly expenses, some emergencies, and still regain your investment if you move on to a larger place later. - Manage Emotions and Expectations
Purchasing your first home can be an emotional experience. It's easy to let your feelings start pulling ahead of your judgment. When looking at the many Augusta homes for sale in the area, you'll want to select your starter home based on both the emotional and the practical reasons. Focus on choosing a home that will be easy to maintain both physically and financially, but still has many of the features that you've been dreaming about. Select a house that doesn't have everything you could want, but one that has enough to make you happy.
Contact us to learn more about the first time or starter home buying process. Our local experts know the market and when and where to get your best return on investment. That starter home is waiting for you right now.