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Excited couple jumps for joy in front of first home.

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Lesson #1: Decide location versus space before searching for a home

Before shopping for a home, it’s important to set your priorities and decide which is more important to you: space or location. If you settle on this in advance, you can make thought-out decisions during the home-buying process and avoid the unsettling feeling of buyer’s remorse.

Lesson #2: Don’t commit before you’re ready

Owning a home is a huge commitment — and a more expensive one than some homebuyers realize. Before buying a home, make sure you know exactly what you’re getting into so you can decide if you’re financially and personally ready for such a large commitment. In addition to your monthly mortgage payment, figure out how much you’ll be paying for property taxes, homeowner’s insurance, HOA fees and other monthly costs of owning a home.

Lesson #3: Sweat equity can save thousands

First-time homebuyers John and Jennifer always knew they wanted to add value to the first home they owned. The couple spent $20,000 remodeling their kitchen, building a new deck and installing a new patio — upgrades that would have cost $50,000 by their estimation if they had hired a contractor to do the job. If you have the skills, the time and the patience to live with dust and debris for a while, do-it-yourself home improvement projects can save you a big chunk of cash.

Lesson #4: A down payment is never a bad investment
Putting some money down is a good idea for any homebuyer because it minimizes your risk and lets you start off with some equity.
Lesson #5: The school district will affect home value
Even if you don’t have kids, it pays to check out a neighborhood’s school district before buying a home, as living in an area with a sought-after school system raises your property value. 
Lesson #6: A land survey will answer boundary questions

Before making changes to your property, it’s a good idea to find out your exact property lines. You can’t always rely on the seller’s knowledge of the property, so getting a land survey will clear up any uncertainties you have.

Lesson #7: Check building plans for the neighborhood

Before buying a home, find out if there are any building plans near your home to avoid surprises after you’ve moved in.

For more great tips on buying a home click here 
source: HGTV
Looking to buy a home? The Ohio Housing Finance Agency offers down payment assistance, career-related interest rate discounts and other loan products to make buying a home or condo easier. Click here to see if you are eligible 

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