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 – You might be worried about not getting “taken” in the home buying process. One area to make sure is taken care of is title insurance. Make sure the home you are buying has adequate title insurance and that the title is clear. You don’t want to deal with the situation of getting a letter from a painter, or plumber asking for thousands of dollars on a repair that was never paid for. Put your mind at ease with a full title report and title insurance to know that you have full ownership.

Property Survey – If you are planning to get a standard lot in a village or subdivision, you don’t have to get a land survey anymore. Otherwise, it’s a nice idea to have your prospect new house checked first.

Home Inspector – Unless you know a lot about houses, it is highly advisable to get an inspector to investigate the condition of the property you’re planning to purchase. There may be damages or problems that will only be discernible to an expert.

Environment – Just as important as your new house is its location. Go around the neighborhood and get a feel of the place. Do you like your neighbors? Do you feel safe there? Is it near your workplace or the kids’ schools? Of course, included in the things you have to consider is the cost. If you’re thinking of buying a house in a popular or upscale area, you may want to look into the most affordable houses there – for instance, a property off the main street.

Minor Details – Its common for prospective homeowners to be unable to see past minor details like carpet or paint. These things can be changed relatively easily and inexpensively. Instead focus on the major factors and use the minor details as leverage to negotiate on price.

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 Provo real estate agent who has been helping buyers to find and purchase Provo and Orem homes for sale for 10 years. She specializes in helping young families make the jump from renting to owning their own home.

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