4 Houses that First-time St. Louis Home Buyers Should Avoid
Congratulations on your decision to purchase a St. Louis house! This is a big decision and when done carefully, can be one of the most exciting decisions that St. Louis home buyers will make. For most people, buying a St. Louis house is the biggest purchase that they will ever make. Owning a house is a very different than renting a house.
The majority of first-time St. Louis home buyers can’t wait to start the process of looking for the perfect house. It’s exciting to see all of the options that are on the St. Louis market. Choosing the right house can be more difficult than expected with so many options.
To help make your process just a little easier, here are 4 houses that most first-time St. Louis home buyers should avoid.
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The large house
When you are just starting out, you don’t need to buy the biggest St. Louis house that you can afford. This is no longer the days of the past where people purchase a house that they live in for 30 years while paying off the mortgage.
Instead, people are most likely going to buy and sell several houses throughout their life. While it is nice to have a little extra room in your St. Louis house, you don’t need to over do it.
Buying a large house means you will have to furnish the entire house and pay for the extra utilities to run it, such as gas, electric, and water.
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The tiny house
The tiny house craze has been sweeping the nation, but most people don’t really want to live in a tiny house. First-time St. Louis home buyers need to think about how much room they really need in their first house. You may not have a large family at the moment, but if you are planning on having children in the near future, you need to account for that while you buy your house.
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Fixer uppers
Buying a St. Louis fixer upper is a great idea, right? Well, except for the fact that they can be huge money pits. It is often impossible to accurately predict how much work and money you really need to invest into the house.
As a first-time St. Louis home buyers, this can be a big commitment and one that you will regret down the road. If you don’t have experience or the money to hire a contractor, pass on purchasing the fixer upper.
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The most expensive house
Once your lender tells you how much you can be approved for, it is easy to just start looking at St. Louis houses at the top of the range. However, this can get you into trouble later.
Do not just accept the amount that the lender tells you that you can afford. You need to consider the activities that you like and the life you want to have.
If you are spending every penny you have on your mortgage and house, you will end up house poor. You will have the money to pay for your house, but will have to sacrifice things like hobbies, eating out, and traveling in order to afford it.
Make your first-time home buying experience a good one. Avoid making these mistakes. Create a list of the things that you need to have in your house when you buy one and work from that list. Don’t forget to double check your list to make sure you aren’t including “wants” on your “needs” list.