12 Oct Three Things the First Time Buyer Needs to Know by Cincinnati Real Estate Agent
Here’s an interesting tidbit; I was a Cincinnati Real Estate Agent going on 3 years before I bought my first home.*Gasp!* I understand the real estate transaction. I know how to navigate through simple and complex issues. I know how to close a deal. However, when my husband and I bought our first home this summer, I realized there are still things I needed to learn, especially beyond the closing table! Now that I’ve been there and done that, I feel that I can provide my first time home buyer clients with even more value. Here is what I learned.
The first bills are the worst bills! Talk about kicking a man when he is down. I know you were really feeling your bank account before closing day. After? Maybe not as much. And something I totally didn’t expect is the extra fees we were going to incur after we got into our house. First there was the water hook up fee. In our county, even if the water is already hooked up and turned on, you still get charged a fee when you transfer the utility into your name. But they just stick it on your first bill for you.
How nice. Next was electric. Since neither my husband nor I had been a customer of this energy company before, they required a security deposit. They were kind enough to roll this into your first payments as well. Fortunately, with this utility, after a certain time period they will credit you back for the deposit. Don’t forget about getting TV and internet and those other things hooked up. If the provider has to make a service trip because you just cannot get your internet working for some reason, there’s going to be a charge. Now these fees will vary based on where you live and your providers, but just don’t count on getting off easy, keep extra money set aside for these items, you may need it!
Second – The devil is in the details. Everyone has their list of wants. You may be dead set on some details you have to have in your home but they may not be as important as you believe! We have 2 dogs, so a dog friendly home was a MUST! The house we bought had a fenced in dog run, a room in the basement equipped with stairs and an exterior access to the dog run, and doggie doors to boot! Holy doggie heaven! Guess what? We don’t use any of it. Really, none of it. My dog refused to use the doggie doors, the dog jumps out of the dog run 3 seconds after you put him in it, and the steps that gave the dogs access outside were taking up too much of my much needed laundry space. The dog run is no longer there, and neither are the steps. The doggie doors will be nonexistent before too long. I’ll admit, it was a hard decision to tear down things that at one time we felt added so much value for us, but when it came down to it they really didn’t. So don’t fret over some details missing off of your list if you find an other wise great home. Chances are you can make it work without them. Or as in my case, it may even work better without them!
Third – You learn something new every day. You may visit a house 3 to 4 times before you get occupancy. First showing, a second showing if desired, inspections, and final walk through. That’s not a lot of time! Even though inspections are very thorough, you’ll still going to discover some things when you actually start living in the home that you didn’t notice before. You will probably have a lot of questions about how certain things in the home work. For example, the pump for the pool was different than anything we were used to, We had no idea how it worked and it started acting up a week after we moved in.
There’s also a wood burning stove, but we didn’t know how long it had been since the seller last cleaned out the flu and it isn’t something we thought to ask until it started getting cold of course. It’s not a bad idea to get contact information from the seller if you have had a good relationship in the transaction. You’ll probably come across a thing or two that the seller may be able to clear up for you if they lived in the home.
Buying a new home is an exciting experience! Make the most of it and make sure you have an agent who can guide you all the way through the process, and beyond!