What I wish I knew when buying my first home

Me to my younger self:

If I could, I'd be passing along these insights to the younger version of myself – the things I definitely didn't know before I purchased my first home.

Sharing now because if one person benefits from seeing this, it’s worth it!

  1. Plan for maintenance expenses. Back in the day, I didn’t anticipate any maintenance costs. I was so focused on updating and making my first home pretty, I put less weight on what NEEDED to be done. It’s critical to set aside a portion of money for this. A good rule of thumb is 1%-3% of the value of the home per year. Consider moving a fixed amount each month into a high-yield savings account so you’re prepared for surprises down the road.
  2. Your first home is a vehicle to your dream home. Your first home won’t be perfect and it won’t be forever. Keeping that in mind when purchasing can lessen the weight of the decision. While it’s still a huge move, it doesn’t have to be your last move. And what’s better – you will be better able to afford that big, beautiful home in the future by investing in a smaller and less perfect home now.
  3. The best time to buy is now. Ever hear that saying, “The best time to plant a tree was 20 years ago. The second best time is today.” While we can’t go back in time and buy that first home at record low rates and at a significantly lower price, you can act now to avoid feeling this way next year – or 10 years from now. In order to start building equity and wealth in real estate, you have to do just that… you have to start!

So, if you're considering buying your first home and have a few worries, I get it. It’s a huge step that shouldn’t be taken lightly!

If you need a guiding hand, comment “home” to grab my free Buyer Guide, it’s a compilation of all that I’ve learned along the way!

Phone(815) 353-0343

Email[email protected]

Address The Decker Group at eXp Realty
10 N Martingale Rd #400
Schaumburg, IL 60173

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