Note! ️The house buying and selling procedures are complicated. We provide one-stop service from assisting with loans, low interest rates for first-time home buyers, to house delivery, decoration and taxation.
Million-dollar real estate agent | Massachusetts licensed decorator Chen Yi
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For young Americans who are buying their first home, buying a home is an important milestone in their lives. It not only represents independence and maturity, but also means building a warm home for themselves and their family.
However, faced with numerous housing options and a complex home buying process, first-time homebuyers need to consider some key points in order to choose a house that suits them and bear the long-term financial burden.
1. Choose a House That Meets Your Requirements Based on Your Actual Needs
When buying a house for the first time, it is recommended to consider practical needs before pursuing ideals. As a first-time homebuyer, you should focus on practical needs and look for a house that fits your budget and meets your daily needs. For example, for fresh graduates, it is important to choose a house that is close to work and convenient for commuting.
At the same time, when choosing a house, you should also consider its value-preserving features, such as the location, proximity to the city or busy business district, as well as convenient living functions and transportation. Since house prices and real estate taxes vary from state to state in the United States, first-time homebuyers are advised to carefully understand the market value of the house and the monthly property fees before purchasing a house to avoid incurring excessive financial burdens.
2. Consider the Need to Change Houses and Make Long-term Plans
First-time homebuyers should understand that the first house they buy is not necessarily where they will live for the rest of their lives. According to research data from The Zebra, a Texas insurance comparison website, Americans change houses about three times on average in their lifetime. Therefore, first-time homebuyers should consider changing houses at the right time according to the needs of different life stages.
As time goes by, you may face factors such as marriage, childbirth, job changes, etc., which may affect your housing needs. Therefore, do not have too high expectations for your first house, and consider your needs and budget reasonably. For example, for the middle class who are about to become parents, excellent school districts and good educational resources around the property may be the first consideration.
3. Buying a House is Also an Investment
When buying a house, it is very important to choose a property that can maintain its value, which will directly affect your future financial situation. Therefore, when buying a house, you should not only pay attention to the price of the house, but also consider the appreciation potential and flexibility of the property. It is recommended to avoid buying cheap but remote suburban single-family houses, because the property appreciation potential in these areas is limited. On the contrary, choosing a house that maintains its value has the following advantages:
Assets do not shrink: Value-preserving houses provide flexibility when upgrading or changing houses in the future, and can be exchanged for larger living space.
Easy to resell: Value-preserving houses have greater room for appreciation and can usually obtain higher prices when sold, which is conducive to creating a good return on investment.
Property appreciation: A value-preserving home may experience an increase in value after a few years of living in it, allowing the cost of housing to be recovered or even to make a profit.
Favorable loan terms: Value-preserving houses usually have some advantages such as being located in prime locations, having convenient transportation, and being close to popular business districts or school districts, so banks can usually provide better loan terms, allowing you to have more funds in your hands.
Taking into account factors such as location advantages, living functions, and the object's condition, choosing a value-preserving property not only has the potential for appreciation, but also provides you with greater flexibility when changing your residence in the future.
