Newlyweds: How to Find the Perfect Starter Home

You’re newly married and ready to start your new life. You’ve talked about buying a starter home and now it’s time. But, despite what you’ve managed to save, the amount of time you’ve spent on due diligence and all the effort you’ve put into Pinterest to promote what you’re looking for, do you know what it takes to find the perfect starter home?

This is going to be a big investment. Any number of things can happen along the way. The perfect home could slip through your fingers. You may find out you haven’t saved enough. It is going to be a long and potentially stressful endeavor and you’ll need to be prepared. Partnering with an agency like #1 Properties of Casper can streamline the operation and get you well on your way.

Here are a few things newlyweds need to remember when they set out to buy a starter home.

Be Ready to Compromise

If you are looking for your dream home in your first home, stop it. Remember that this is a starter home.  It doesn’t have to be everything you’d dream it would be, nor likely will it be. This is a property you will live in until you’re ready to move up the social or professional ladder. If you had your heart set on a three bedroom with garage, imagine that could change as you see what the market has to offer. Chances are you have a limited budget to work with and that will only get you so far in terms of what your starter home will have. So be willing to compromise. You can always update your home to make it into something that is more to your liking.

Get a Home Inspection

Inspections are actually required by any mortgage company. It wouldn’t be unwise though to get your own inspection. Either way, try to accompany the inspector and take notes. They will provide a great overview of the home’s good and bad components. You will get a better overview of the inspector’s perspective in their company than from a written report. Depending on what the inspector finds in terms of flaws and damages to your home can impact your home loan. Hopefully though, the seller will be willing to make any repairs necessary to they can get the home sold as soon as possible.

Know What’s Feasible for Your Starter Home

Your new home may need some work. The question will be how much and what you’re willing to spend. On one hand, you’re looking to move on eventually and whatever you put into the property will make it that much more valuable. But you could save for that day when you are ready to move on and have a nice nest egg and more knowledge for your next home. So, if you’re thinking about adding wood floors or putting in a garage, determine your ultimate goal and expense for a starter home.

The typical starter home resident stays an average five years. Your long- or short-term plan should determine what you want out of that home and what you are willing to put into your home.