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After years of saving, you are finally ready to purchase a home. You are excited, and have mustered up the courage it takes to make the big step of buying your first home. However, you are nervous because you aren’t sure you know everything you need to know. Here are 7 little known tips that will help you out when purchasing a home for the first time.

Title Insurance – If you were concerned about insurance as a renter, you should be even more concerned when you look at buying your own house. Don’t worry too much though, just make sure you have adequate title insurance on the home you are thinking about pulling the trigger on. Title insurance will allow you to get full ownership without worrying about whether or not the previous owner had any judgements or liens on the property that could come back to haunt you.

Property Survey – A current property survey will let you know exactly what piece of land you are purchasing. Make sure the survey makes sense and there are clearly defined boundaries showing you precisely what you own and what you do not.

Home Inspector – Even if you know a lot about homes, it is still advantageous to get a professional home inspection. Its alarming how much wear and tear can exist in unseeable places within a home. Don’t get stuck with mold issues or a crack in the foundation. These types of issues can dramatically affect the value of your home.

Community – By community I mean more than just location. Often you will hear that location is everything. But location usually is limited to geographic location. What I mean is visit your neighbors and your kid’s potential schools. Make a fair assessment. Do you like the area? Are their parks, shopping, etc. How about a church in the area that you are fond of. Consider all aspects of location, and make sure to take into account the community you will be living in.

Minor details – Don’t fret over little things like an old carpet or an outdated backyard. You can change them relatively easily once you’ve already bought the property.

Major Factors – This tip falls in line with the last tip. What types of things should you look for if you shouldn’t fret about minor details? Look for things like a good floor plan. Is it big enough or small enough for your needs? Do you have enough bathrooms. Is the roof in good condition, how about the structural integrity of the foundation. Oh yeah, and don’t forget about the monthly payments. These might be more than you anticipate when considering HOA, heating and cooling costs, insurance, taxes, etc. Don’t make the mistake of purchasing a home you can’t afford. These are things to make sure to keep at the forefront of your mind.

Duration – Try to predict how long your intend to live in the home for. Believe it or not, there are times when it is best to continue to rent. For instance, if you are purchasing a home at current market value and you plan on moving before two years, the numbers usually don’t add up. When considering purchasing a home, try to make sure you are in the home for an adequate amount of time to be able to recoup you investment (tax free if you roll your profit into your next home).

Vicki Stallings is a Utah realtor focusing on Provo homes for sale. As a real estate agent, she has been helping buyers to find and purchase Provo and Orem homes for sale for over 11 years. She specializes in helping young families make the jump from renting to owning their own home.

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