Tips for Affording a Better Home for Your First Purchase

Buying a home for the first time is one of the most financially difficult processes you're ever likely to go through. If you have things lined up in advance, though, you should be able to afford a home you truly love. 

Here are four tips for affording a better home on your first purchase.

Clear out Old Debts First

Before you buy a home, it's a good idea to clear out some of your other debts. Car loans, credit cards, and student loans will all put a monthly drain on your finances, limiting the amount you can afford to put toward a house payment. 

If you retire these other debts, though, you will be able to pay a higher monthly amount for a better property.

Save up a Significant Amount for Your Down Payment

Assuming you have good credit and a decent income, the price of the house you can buy is mostly limited by the amount you're able to put down. 

As a result, it's a good idea to build up a large down payment fund before you begin seriously looking at houses. If you have to, you can use all of this fund to buy a more expensive home. 

If you find something you like at a lower price, you can instead use the extra money for improvements or to reduce the amount you have to borrow when you buy.

Have an Experienced Real Estate Agent in Your Corner

When it comes to getting the best price on a house, few things are as important as having a good real estate agent. An experienced agent can help you put together a reasonable offer on the house and determine what the seller will likely accept. 

Working with an agent who knows your local market will make for a smooth buying process and the best possible final price.

Don't Skip on the Home Inspection

In addition to making sure the home, you're buying is safe and up to date, a home inspection is an invaluable tool for price negotiations. If an inspector finds previously unidentified problems, you may be able to negotiate for a lower price that reflects the true condition of the property.

As with your agent, it's important to choose an experienced and reputable home inspection contractor.

With these four tips, you should be able to afford a great property. A bit of planning and preparation goes a long way, so going into the purchase process with everything lined up will give you the best chance of snagging a great price on your future home.

How to Make Sure You Receive What Your Home Is Worth When Selling

Considering a house is a significant investment, the real estate industry can have substantial financial incentives for those who understand how to market and sell properties at the best possible price. 

Getting what your home is worth does present its array of issues. Enlisting the help of a skilled and knowledgeable real estate agent, on the other hand, will significantly reduce the stress of the process. 

Here are three tips to consider to sell your home at its actual value.

Understand the Local Market

The real estate market is rapidly evolving, and even on a local basis, market dynamics cannot be expected to remain stable for long. In this respect, hiring a successful real estate agent to serve you while selling your house is critical to getting the highest deal possible.

A successful real estate agent is well-versed in the industry in which they work. Experience in their real estate market has enabled real estate agents to know how to interpret market trends at any given time and counsel home buyers on a reasonable price – taking into account similar homes as well as the listed property's features and amenities.




Your realtor will do a comparative market study to compare similar homes that have been listed in the last 6 to 12 months to calculate an asking price for your house, as well as a thorough examination of historical market patterns to forecast potential property sales.

Select the Appropriate Time to Sell

The right time to sell is not always the same for each property seller. You've probably heard that the real estate market blooms in the spring and that prices hibernate during winter. 

Still, each particular seller's financial and personal conditions will undoubtedly influence their move to sell at a given moment.



Discuss the motives for selling your home thoroughly with your realtor, and make sure to map out a timeframe for the sale to give the realtor a sense about when you'd hopefully like to have the home sold.

Consider Minor Improvements That Add Value at a Low Cost

Most properties on the market do not necessitate extensive renovations or upgrades – unless you are selling a flipped home. 

However, minor repairs, such as a fresh coat of paint, minor bathroom, and kitchen renovations, and slight energy-efficient updates to the house, will increase real value to the property without spending a fortune.

If you need to get cash, immediately sell your home as is though. This will ensure you don’t need to make repairs around the house, but will still let you receive what you put into your home.

When selling your home you want to make sure you get as much out of it as you can. Follow some of the above tips before listing.