First time home buyers

First time home

buyers By Theresa Grant - Real Estate Columnist Ah, the first-time home buyer. A special breed. Joyful, optimistic, eager yet hesitant at the same time. Given the price of real estate these days, first time home buyers come in all different age ranges. Years ago, your typical first timer would be in their late twenties to mid thirties. Now it’s not uncommon to find first timers in their forties and fifties. There is also a situation that qualifies some as first-time home buyers even if they have owned a home previously. If you have owned a home previously but have not owned a home in the last five years, you qualify as a first-time home buyer. Younger first timers need a little more guidance than their older counterparts to know the right questions to ask and what should be top concerns when walking through a potential contender for their first home purchase. That may be simply that older home buyers may have lived in newer and older houses and know what they may contend with a homeowner. We think back to the houses we grew up in and remember certain characteristics of that house and can compare and ask questions based on that. Some however, grew up in apartments and that gives them a different set of questions and concerns. It is always recommended regardless of how many times you’ve purchased a home that you have a home inspection from a qualified home inspector. That can provide you with peace of mind when it comes to anything that may be hidden from plain view. Problems with moisture or foundation are good examples of something that may be hidden or somewhat hidden for the average person just taking a walk through the property. Some things that a first-time home buyer may overlook can seem common and others may wonder how that could not be addressed or overlooked however, when you are out looking at homes certain things can just escape you. This can be due to excitement or being completely enamoured with a property. I find that some of my first time homebuyers will get into a property and be completely taken aback at the fact that they have qualified for such a nice place and may overlook some pretty important facts. On the whole, house hunting can be somewhat overwhelming, and it doesn’t hurt to bring a detached person with you to point out things that you may be overlooking or that simply didn’t occur to you. I remember going through a property with home buyers and the houses were so close together there was really no where to put the snow. When I asked the potential home buyer where they would put the snow, they responded with shock and dismay because it was mid June with no though to where one might put the shovelled snow. First time homebuyers are gearing up for a busy 2025 and will make up a huge percentage of home buyers next year. With this in mind, if you are planning on buying a home next year as rates are expected to continue to drop, it may be a good idea to have a list of questions with you. As well, make a list of things that are important to you like electrical outlets in certain rooms so you can remember to check them. A friend, parent or sibling is always a welcome additionon tours and can prove very beneficial. How ever you want to approach it, a little preparation can go a long way in the house hunt. Questions? Column ideas? You can email me at newspaper@ocentral.com