Afraid to Buy a House?

Buying a home can be scary, especially if you’re a first-time buyer. Making such a large financial decision can be stressful, but it doesn’t have to be if you’re prepared. Here are some of the most common concerns, myths and misconceptions potential homebuyers might have, and why you actually have nothing to fear.

I Can’t Afford a House

Financial woes are easily one of the biggest fears most people have, especially when making a large purchase like a home. If you intend to start paying a mortgage you might fear that you’ll lose out on expendable income that you’d otherwise spend elsewhere, or that the constant payments will become a burden for you and your family.

The easiest way to overcome this fear is to only look at houses you can actually afford. If your dream house is above your budget, it’s time to learn how to settle for something more affordable. Talk to a financial advisor or loan officer to get a better understanding of exactly how much you can afford without breaking the bank, then stick to a comfortable budget.
You may actually find your mortgage payment is comparable or even a little less than your current rent, depending on your situation. Luckily, the first step of the mortgage process is getting preapproved, so you can relatively quickly find out what your maximum mortgage payment may look like.

How Will I Find the Perfect Home?

Even if you’ve found a house that fits your budget, you might be concerned that buyer’s remorse will eventually set in. Will you still like it in a week? A month? A year? It’s likely you won’t find the perfect dream house that checks all the boxes on your list, but it is possible to find something close. One of the benefits of owning a home is the ability to make any changes you’d like. If you do find yourself tired of a space or wanting to change things up a bit, buying a home gives you that option the future.

Is It a Good Investment?

Like any commodity, homes can appreciate or depreciate in value over time. For better or worse, the housing market is completely out of your control. If you find a new house you like don’t try to game the system by waiting for it to go down in price in hopes of a better deal. Chances are somebody else will snatch it up before then.
To maximize your potential investment, do your research before buying. Try to buy in a low-crime area where the homes are well kept and the surrounding developments are appealing to a future buyer.

Renting is Safer

Even if you take all the necessary precautions, you might be convinced it’s just easier to rent. While you are able to leave a rental unit whenever your lease is up and pay significantly less maintenance costs, renting does have its own downsides. As a renter, you own no part of your residence. While a home can function as an investment for the future, the money you put towards rent essentially disappears. You have no way of getting a return on the money you put in a landlord’s pocket. Buying a home might seem risky, and even downright frightening, but it’s an important step in building a life for yourself for years to come.

Your Stress and Fear ReMovers

At Humboldt Storage and Moving, we understand that buying and moving into a new home can be a stressful experience. That’s why we strive to look at every aspect of the moving process and make your next move as comfortable and stress-free as possible. With Humboldt, you can always expect efficient, professional service. Contact us today for more information and a free moving quote.