You’re ready for the jump!
You’ve thought, you’ve planned, and you’re going to buy your first house in Grand Rapids, MI. Or maybe in Kalamazoo, or Kentwood, or Hastings, but you get the idea. It’s go time!
This is a very exciting journey. However, there are a few important things to remember as you start your trip.
1. Stay calm, and accept the timeline.
Buying a house can take a long time. From finding the right place, to getting your financing fully approved, to the never-ending negotiations, the home buying process can really drag on.
This is normal, and it’s OK! There are a lot of moving parts to a real estate transaction, and none of those parts are 100% efficient. It will probably take longer than you want it to. If you stay calm and collected, you will sleep much better at night.
2. Be Picky!
This can be a challenge, especially if you don’t find what you’re looking for right away. When you’re looking for houses for sale in Grand Rapids, it can be hard to reconcile your budget with the home you’re hoping for. My advice? Be patient, and be picky.
This is a big financial decision. If it takes a couple of extra months to find the right place, it will be well worth it. Ignore pressure from others to buy. It is your home, so make the right decision for you!
Also, remember that the market looks different during different seasons. The number of houses for sale in Grand Rapids can vary considerably from spring to fall to winter. Keep looking, and you will be rewarded!
3. Surround yourself with high-quality professionals.
Good pros can make a world of difference. Get references, check out their reputation online, and interview several professionals in each field. Whether it’s an inspector, a realtor, an attorney, or a title company, you want to work with the best.
You can probably save a few dollars by working with ‘discounted’ folks. Trust me, in the long term, it is NOT worth it. Work with the best people you can find, and you will sleep much better at night.
4. Get an inspection, and pay close attention to it.
Inspections are crucial to a smart home purchase. Some people look at this as an optional expense – don’t fall into this trap!
A good inspector will see things that we can’t. They will look at the foundation, HVAC, electric system, plumbing, and roof, just to name a few. They will point out many flaws, both major and minor, for you to consider.
This is a huge help in many ways. First of all, it can catch major, expensive fixes before they become your problem. If you’re not ready for a $30,000 foundation repair, you can either negotiate with the seller or walk away from the sale. Without the inspection, you might never notice!
Secondly, it can give you peace of mind. I have never seen inspection reports come back empty on houses for sale in Grand Rapids, so don’t expect the home to be flawless. However, if you are comfortable with the inspection report, you can move forward more confidently.
Third, if something surprising (and expensive) comes up, the inspection gives you a chance to talk about it with the seller. If a big fix is necessary, you may need to discuss covering those costs. Don’t use the inspection as a hammer to beat the seller up, but pay attention to the issues it reveals.
5. Be ready for the extra costs of home ownership.
Owning a home is more expensive than renting. That seems pretty obvious, right? But it is important. Don’t assume that if your rent is equal to your mortgage, taxes, and insurance, that you’re in the clear.
When the water heater breaks, you can’t call your landlord to come fix it. You are the landlord! As the roof gets older, you have to plan to repair or replace it. You have to mow the lawn, repair the door, and fix that leaky sink (or pay someone else to do it).
All of these costs add up. So prepare yourself by budgeting money every month for ‘unexpected’ expenses. Because you don’t know what will happen, but you know SOMETHING will break. If you’re financially ready for it, it will be much less stressful.
Keep these small things in mind, and you will have a much more enjoyable experience. Home ownership can be wonderful… have fun!