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First-Time Home Buyers – Everything You Need To Know

Your first home will be the most significant financial obligation you’ve faced to date. For a first time home buyer, this is a huge deal. While taking such a big step will bring on feelings of excitement and exhilaration, it can also illicit fear and intimidation for some. To ease the burden of such an important financial decision, here are some tips every potential home buyer should consider before taking the plunge.

The roof – What to know
The roof of your home is important because it literally shields your loved ones and your belongings from the elements. Therefore, it is important to be well informed about the state of your roof. Furthermore, because a roof replacement can be a costly expense, it is important to fully understand what you are taking on when purchasing a property. Important questions you need to ask that will help you determine the current state of the roof are:

  • How old is the roof?
  • What is the material composition of the roof?
  • Is the roof under warranty?
  • What are the existing problems with the roof?
  • Is there currently a roof leak?
  • Have there been any repairs since the roof was done?
     
    The answers to these questions will help you make an educated decision and will also help you map out an action plan if necessary. An older roof may not require immediate replacement but you may be able to negotiate price if there is work that needs to be done. Don’t underestimate roof maintenance. Don’t be afraid to ask questions and make sure you have all the facts before you make a decision.
     
    Inspection – Scratch beneath the surface
    An inspection of the property you are interested in purchasing is critical for identifying potential problems and risks that you may not have been aware of. Inspections can provide helpful insight on the current state of the property and it can also draw your attention to any potential red flags. However, make sure that the inspection is done by a professional who will dig deeper to unveil the root cause of specific problems. If you feel your inspector does not have enough thorough information, call a specialized contractor to dig deeper. Ask questions. Inform yourselves. And most importantly, don’t be afraid to speak up.
     
    Renovations – Professionally done
    When looking for a home, structural details are just as important as aesthetic ones. There is nothing wrong with doing certain renovations yourself. However, people should understand their limitations. While professionally done renovations does not guarantee the job was correctly executed, it does increase the probability. More importantly, it ensures that the structural integrity is not compromised. Typically, professional contractors use quality materials and good contractors take pride in their craftsmanship. In other words, whether the renovations are carried out by a contractor or yourself, make sure they are done right the first time.
     
    Purchasing a home is not only a big financial burden but it requires a huge commitment. Make sure you know exactly what you are getting into before diving in head first. Do your research, consult different knowledgeable professionals, ask questions and make your voice heard. While finding the perfect home is a difficult feat, don’t feel pressured to make any offers right away. Don’t commit before you’re ready. Make sure that whatever decision you choose to make, is an informed decision.

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