Home Styles to Consider When Buying Your First Home

No matter where you are in your life, buying a home may be in your very near future. Statistics show that a great number of people relocate at least 5 to 7 times in their lifetime which means that it is most likely that you will be moving in the next 5 to 10 years.

Fortunately, there are a number of different types of homes that can meet your needs at any stage of life; from the simple condominium for newlyweds to the spacious townhouse fit for a family, you have a variety of styles and floorplans to choose from. One of the first things about home buying is what the different types of homes for sale are.

The Condominium: Condos first became popular in the 1970s as more people wanted to live in urban areas without paying the high price of a home. '100 Questions Every Home Buyer Should Ask' expert author Ilyce Glink explained that when you buy a condominium, you do not necessarily own the unit. Your actual investment is in the common elements of the real estate property which is shared with the other condominium owners, and the airspace inside the walls, ceilings and floorings.

The Townhouse: Another term for townhomes is row houses because these kind of houses are grouped together with shared walls. Some townhomes require you to join a homeowner's association to cover the cost of common areas such s the parking lot, laundry room and fitness centers, but town homes are very similar in ownership status as a single-family home.

Single-Family Homes: The detached single-family home is one of the most popular types of homes for first time homebuyers, and available in a variety of sizes, styles and floorplans. These single-family homes can be part of a small community or a stand alone in their own lot. Almost all single-family homes will have separate ownership and maintenance fees, which means you'll be wholly responsible for all expenses to keep your home safe, clean and secure.

Mobile Homes and Pre-Fabricated Homes: Mobile homes are designed to be moved whenever needed, so you never purchase the land that the home sits on. Mobile homes are fully equipped with basic home amenities and appliances, and can be an affordable alternative to purchasing a regular home.

Pre-fabricated homes are usually are more well constructed and made with sturdier materials than mobile home. The quality of pre-fabricated homes is higher than the average mobile home and these can still be moved from site to site. Similar to mobile homes, pre-fabricated homes allows you to rent the property you will occupy instead of purchasing it.

Understanding the key differences, benefits and drawbacks of different types of homes can get you started on your search and help you make the best decision on your which among the new homes for sale to purchase.

Forecasting your future for the next three to five years can also help you narrow down your choices; if you have a large family and want to stay in a particular neighborhood, a single family home or townhouse may be the best fit for you. For example, if you are single and have no plans to get married in the next 5-10 years, the perfect choice for you as a first time homebuyer would be a condominium.

If you are a new homebuyer looking for houses for sale in Minnesota, using the internet is one of the fastest ways to find what you are looking for. The MN MLS allows you to search by price and location, throughout the state.

First Time Homebuying Tips for the First Visit

Making the decision to buy your first home is a significant event, and the entire process can be overwhelming. However, there are several steps you need to take as a first time homebuyer to ensure that your home purchase really is the right fit for you, and that you have looked at enough properties in your neighborhood so that you are well-informed about your options.

The first visit to the property involves more than just taking a tour with the realtor. You need to be prepared with a checklist and a few tools. Eric Tyson and Kevin Brown, authors of the book "Home Buying for Dummies" point out the importance of becoming an "educated buyer". Here's what you need to know before you head out to the properties on your search list:

1. Take pictures of the homes for sale you visit. Take a few pictures of the homes for sale that you visit with a real estate agent so that you will have reference material when you review all the properties and start your decision process. Even if there is an available picture of the house for sale online or in the printed material, taking your own pictures will allow you to be able to recall clearly what the best parts and the drawbacks are of each and every house that you inspect. Take close-up shots of all the rooms, the backyard, the basement and the other areas so that your files per home for sale can be complete.

2. Print out a map of the property and surrounding landmarks. How close is the home to local parks? Local schools? The nearest grocery store? Take a good look at the bird's eye view of the property using an interactive map to identify where the major roads and landmarks in the community are. This will help you decide if the location is suitable for you and your family.

3. Make an assessment of the area you might live in. How close is the home to the neighbors? Is there a fence between the house you are inspecting and the adjacent property? Take a look of what the other houses beside the property looks like, what kind of cars the neighbors own, and how well they maintain their garden. Get a general idea about the overall community lifestyle of the area residents to see if the location is the ideal place for you.

4. Identify three to four unique features of the property. Since you might be visiting several homes for sale, this activity will be an effective way to recall each and every home that you get to inspect. Identify the features that make the house for sale stand out, like if there is a pool, a gazebo in the garden, an island in the kitchen, or a loft-style bedroom. This will help you keep track of the benefits of each of the homes for sale that you visit.

5. Rate each home for sale. Set up your own rating system so you can remove from your list homes for sale which do not meet with your criteria. A scale of 1 to 10 can be applied to the homes that you visit, and you can give a high rating like 9 or 10 to the ones that are to very much to your liking. This can help a first time home buyer make the home buying process shorter and easier.

Being a first time homebuyer can be a nerve-wracking experience, but there are several ways to make the process of visiting and surveying each prospective home that much easier. Take the time to organize your first visit with these essential tips and strategies so you can make a well-informed decision.

Searching the internet is one of the best ways to find Minnesota houses for sale. Searching the MN MLS is one of the best resources for locating homes by price, neighborhood, and other criteria.