Navigating First-Time Home Buying Anxiety
I mean, what’s to be nervous about? You’re just making the largest financial purchase of your life. Why the stress? Yeah right!
First time home buyers, don’t despair. It’s totally normal to be anxious about the entire home buying process. In fact, if you weren’t anxious, then I’D be anxious! I hope the following few tips can help ease your anxiety and get you on the happy road to buying your first home.
- It’s okay to be anxious. Enough said.
- Find a good and experienced REALTOR. Realtors are there to hold your hand each step of the way. We can answer your questions, help you navigate unexpected turns and drive you towards your home buying happiness. Personalities matter, so find a Realtor that you connect with. These questions might help.
- Test drive your mortgage payment. If you anticipate buying a house and paying $1,800 a month, for the next few months put $1,800 in your savings account. Don’t forget estimating your utility payments too. If you can live comfortably with this ‘payment’ each month, then you’re in the driver’s seat. If not, step back and evaluate what you must have in your new home so you can consider a less expensive option. Not sure what your monthly payment might be? Use a mortgage calculator to help you narrow it down.
- Ask questions. Don’t understand your good faith estimate? Ask your banker to explain. What’s due diligence? Is that item on page 12 of the home inspection important? Should you ask for closing costs? What are closing costs?! Don’t be afraid to ask, ask, ask. You’re the boss of this process. Exert yourself!
- Be Flexible. Absolutely nothing (and I mean nothing) goes according to plan when it comes to buying a home. Negotiations can crumble, home inspections can stir up a mess, and banks can be finicky.
Above all, take a deep breath and hold on tight. The home buying process is exhilarating, exhausting and sometimes frustrating but, most of all, it’s a thrilling ride into your future.