Buying a home is something most people look forward to doing eventually in their lifetime. Perhaps you are getting tired of making rent payments for money that you’ll never get back in return. And maybe you want to start putting your dollars towards an investment in the form of your very first home. While many people can purchase their first home without legal help, we strongly advise against this. By having an attorney, like attorney Tim Kassouni, a real estate lawyer in Sacramento, CA, oversee the real estate transaction, we can ensure that your rights and best interests are being protected.

Unfortunately, many agents or sellers may take advantage of people who are buying a property for the first time, since they probably don’t know as much about the process. Rest assured, we can evaluate the home and paperwork and let you know whether the deal is going to be great for you long term, or not. 

Here are tips that an attorney frequently suggest to clients who want help with buying their very first home: 

Miscalculating Repair Costs

Home buyers may commit two mistakes without realizing it. The first is that they may request a repair estimate from one contractor only, and the initial estimate is incredibly low. Then, when they hire someone to come in and officially begin the repairs the total may be much more than they had anticipated. It’s best to get an estimate from several different contractors and average the totals, so you have a more solid idea of what to expect. 

Changing Your Credit During the Sale

As an attorney may explain to first time home buyers, the beginning stage after choosing the home you want to purchase is to apply for a mortgage. Then, the loan is approved, the transaction finalizes, and you get the keys to the property. During this time it is crucial that you do not do anything that may impact your credit score. Do not apply for a new credit card, don’t buy brand new furniture on credit, or make any other big purchases before the closing date. 

Underestimating The Costs After Buying

Once you buy a home, it won’t only be the mortgage that you have to pay. You may also have to pay a gas, oil, cable, and water bill. While those who rent typically have to pay these types of utilities, with a new home there may be new bills that they haven’t had to deal with yet. For example, depending on where you purchased your home, you may have a monthly bill for homeowner association fees. 

If you are excited to purchase a home but want someone to oversee the process to ensure that your best interests are being accounted for, then call our law firm today. New clients receive a free initial consult, so there’s nothing to lose by inquiring further about our services. An attorney is happy to chat with you more about how we can be of support.