Houses Recommended for People Buying Their First Home

Posted on Nov 20 2017 - 9:04pm by Business Day TV

A family has just purchased a new homeOwning a house is probably on everyone’s bucket list, but shopping for one is a task that overwhelms first-time homebuyers. As a first-time homebuyer, you are faced with many options based on many considerations, such as location, type of home and type of mortgage.

Whatever your choice, real estate professionals advise going for new homes, as opposed to old ones, to reduce the risk of purchasing a less-than-ideal home. Utah has many new homes for sale, but they may not all tickle your fancy. Here are the best homes for first-time property buyers:

Townhouses

This narrow multi-level house attaches to other houses on the street. The owner owns the parcel of land on which the building is standing. The insurance and maintenance costs of common areas are paid to a homeowner’s association (HOA). These houses are secure and cost less than single-family homes. The proximity of neighbors however limits your space and privacy.

Condominiums

Condos have the most hands-off style to homeownership. They are cheaper than townhouses since owners do not own the land on which the house is built. Maintenance and other monthly fees are paid to the HOA, and they are higher than those paid in townhouses. A condo works for those looking for an affordable house with building security. It is, however, difficult to sell, appreciates slowly, and lacks privacy.

Single-Family Homes

These detached homes provide the owner with the freedom to improve the structures. Unlike condos and townhouses, there are no rules as to what you can do with your house. In most urban areas, the HOA takes care of shared amenities, like trash collection and road maintenance, at a low cost. Single-family homes offer privacy and adequate space for growing families. You are responsible for your home’s exterior maintenance as well.

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The best house for you ultimately depends on your lifestyle, preference, and budget. Your home should ideally be able to accommodate any plans you have in future.