Are You Ready to Buy Your First Home in Columbus?

The Boy Scouts’ motto is “Be prepared!” It’s also great advice when you get ready to buy your first home in Columbus. Purchasing Columbus condos or homes is one of the biggest decisions you’ll ever make, so it’s important to be prepared. Here are some things to consider before you begin searching for Columbus OH homes for sale

Everyone has a reason for wanting to buy a home. After all, home ownership is part of the American Dream. You may need more space or have received an inheritance you want to invest. Or perhaps you’ve crunched the numbers and found that home ownership, with its many tax advantages, is less expensive than renting. There may be several reasons why you are considering buying a your first home in Columbus. What’s your reason?

Think about your timeframe. Sometimes, the need to buy a home is urgent. You could be moving to a new location next month because of a job transfer, and need to find a place to live right now. On the other hand you may not be in a hurry and have the luxury of time.

Consider what type of home you’d like to live in. There are homes available for every taste and preference: new, old, big or small, out in the country or right in the city.

Talk with you banker, realtor or accountant about what price of home you can afford. There are many programs available that allow you to purchase a first home for 5% down or less. Some programs are even available for 0% down. You may need some cash to cover closing costs, however, often your real estate agent can structure your purchase so it also includes any closing costs.

One time, I purchased a home that didn’t have air conditioning, and was able to get a mortgage that not only paid my closing costs, but also provided enough funds for me to install a new central air conditioning system. Although there is some leeway here, as a general rule of thumb, your mortgage payment and any other debts you have (car loans, school loans, etc.) should account for not more than 30% of your monthly gross income.

Your home will require regular upkeep and maintenance. Gutters need to be cleaned, weeds have to be pulled, toilets must to be repaired and sinks need to be caulked. Any one or all of these tasks can be outsourced, but part of the joy of home ownership is taking care of these tasks yourself! There’s nothing like mowing your lawn and then resting in a hammock under the shade of a tree, peacefully surveying your work!

For most people, home ownership is incredibly fulfilling and emotionally rewarding. It’s a labor of love that gives back to us ten-fold over the years. So be prepared. And now that you’re ready to start looking, call Susanne today at 614-975-9650 to talk about your next steps!