It’s common to feel overwhelmed when you’re starting your home search. After all, purchasing property is a major investment, and you want to get it right. Fortunately, by learning about best practices, you can avoid mistakes and save money. Here’s what you need to know. 

A Guide to Best Practices for Homebuyers

1. Create a Budget 

Start by adding up your income sources, including full-time and part-time gigs. Next, determine your typical monthly expenses, including food, gas, pet care, and insurance. Additionally, add up the expected monthly costs for buying a place, such as maintenance, home insurance, mortgage payments, and utilities. Finally, calculate your total projected expenses and subtract the number from your total income. If you’ll be spending more money than you make, play around with the expenses to see where you can cut back. 

2. Define Your Needs & Wants

Before looking at homes, make a list of your non-negotiables and wants. Do you need to have a short commute to work, or is school district quality more essential? How important is shopping to you? Do you want to live near a beach or have a pool? Answering these questions, and similar ones, will help you define what you’re looking for and give your real estate agent the information they need to find a good fit. Doing this exercise is especially important when buying a home in Hawaii, where there’s a limited inventory and homes get bought quickly. 

3. Learn the Market

A qualified real estate agent can help you learn about the market, so ask them plenty of questions. For example, how much do homes typically go for in each neighborhood? Is this area within my price range? What amenities and features can I expect when buying a home in this community? What taxes should I expect to pay? The more you know about the market, the easier it’ll be to create a budget, find a good neighborhood, and avoid buyer burnout. 

When you’re beginning your home search, contact Oahu Island Properties. Our team has years of island-wide experience helping buyers and sellers attain their real estate goals. Our expertise of the island of Oahu coupled with our client commitment will ensure that your home buying or selling needs are met. Call or text (808) 673-8681 to schedule a virtual appointment, or visit the website to begin your search today.