5 Tips for First-Time Alaskan Home Buyers
Are you ready to buy your first Alaskan home? There are many pivotal points in life that we consider part of ‘adulting’ and one of the main big purchases in our lives is our first home. There’s a lot that we aren’t taught growing up about buying our first home. This major milestone is full of benefits, but it’s important to get the facts and do your research first. Before you post your “First home” announcement on social media take the time to learn from those who came before you with a few tips.
Tip 1 – Listen to your gut
When it comes to big decisions it is amazing how many well-intentioned people will share their opinions with you. You just must remember that in the end, it’s your name on the dotted line and you take the responsibility. You know what is right for you, for your family, for your goals and the future. Unsolicited advice will come, just be prepared to block the negativity, and focus on your own goals.
Tip 2 – Realtors are a true blessing
If you’re looking for a less stressful home-buying experience, you will be in the best hands in the care of an experienced realtor. Agents understand the market and are available when you have questions or are overwhelmed. You may think that you’re saving money by avoiding realtor fees, but working with someone in the business can save you money especially during strategic negotiations. Agents are also able to connect you with home inspectors, attorneys, and brokers.
Tip 3 – Home warranties take out the guesswork
The one big reality of homeownership is that you are now the landlord. If something breaks, you call yourself to take care of it. Home warranty insurance is sometimes offered by the seller and can bring you great peace of mind. Things will break, and it will happen unexpectedly and at the worst times but knowing that you have insurance can save you from spending your savings. Warranty companies will connect you with the best local agencies and get the repairs done quickly.
Tip 4 – Know your price range
Yes, even as an adult, well especially as an adult, you have a set ‘allowance.’ Our financial budget is an important number to not only know, but to stick to. You also need to be prepared to not take on more than you can handle. Sometimes, with great credit, our pre-approval can be higher than we can ultimately afford to pay back. If you don’t manage your mortgage limits efficiently you can end up house poor.
Tip 5 – Pay attention to the little things
When you’re looking over your potential home and you see something that isn’t quite right, you should point it out. During a walkthrough something as simple as a small leak or stain can be linked to some serious water damage or issues. You and your agent can work together to look at the property carefully for any future financial pitfalls. Once you sign the papers that problem is all yours. During the selling process is the time to speak up and avoid first time home-buyer remorse.
Buying your first home doesn’t have to be scary and is a fun and educational experience. Working together with a realtor is a great way to find your first Alaskan home. We are here and ready to work with you if you’d like to buy or sell in the Anchorage, Eagle River, Wasilla and the Mat-Su Valley.
